Audit log

Every state-changing event for Abracadabra Finance (MIM Stablecoin): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-06-21 12:10:29Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 427,938,412

   sig

   5gAT5yP6Ngeb…kemHv6bNcopyexplorer ↗

   hash

   6ZNWkQLbMTqu…ZRfqobjhcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (26623 B) ▸

   {"actor":"system:backfill","investigation_id":"d12991a8-c2e7-480b-a4a5-e128b6666999","kind":"publish","page_slug":"abracadabra-finance-mim-stablecoin","published_at":"2026-06-21T12:10:29.514Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Abracadabra Finance (MIM Stablecoin)","sections":[{"content":"MIM depegged twice within a single week in early June 2026. The first event occurred on June 8, 2026, when MIM dropped to approximately $0.8065. A second, more severe depeg occurred on June 12, 2026, when MIM fell to $0.8776, representing a decline of approximately 10.93% in 24 hours. By mid-June, MIM was trading at approximately $0.8232, an 18% deviation from its $1 peg. Neither event was attributed to a new exploit or unauthorized minting. On-chain monitoring platforms including PharosWatch and blockchain security firm Blockaid attributed both depegs to thin exit liquidity and severely imbalanced DEX pool compositions rather than any smart contract vulnerability or key compromise. Cross-chain price discrepancies were noted, particularly on Arbitrum where MIM traded between $0.91 and $0.92 on executable routes at the time of the second depeg.","heading":"June 2026 Dual Depeg Events","severity":"critical","sources":[{"credibility":2,"name":"Magic Internet Money Depegs for Second Time in a Week Amid Liquidity Stress","type":"news_article","url":"https://www.cryptotimes.io/2026/06/12/magic-internet-money-depegs-for-second-time-in-a-week-amid-liquidity-stress/"},{"credibility":2,"name":"MIM stablecoin drops to $0.87 as algorithmic dollar tokens keep losing their pegs","type":"news_article","url":"https://cryptonews.net/news/defi/33005806/"},{"credibility":2,"name":"MIM Depegs Below $0.89 Twice in a Week on Thin DEX Liquidity","type":"news_article","url":"https://coinpaprika.com/news/mim-depegs-below-089-twice-week-thin-dex/"},{"credibility":2,"name":"Stablecoin Depegs Explained: apxUSD, MIM, USR, and StablR Under the Microscope","type":"research","url":"https://www.webacy.com/blog/stablecoin-depegs-beyond-the-price"}]},{"content":"PharosWatch monitoring data identified the underlying cause of the June 2026 depegs as a structural liquidity problem. Despite approximately $35 million in DEX liquidity distributed across 47 pools on five chains, the pool balance health metric registered at only 12% — indicating severe imbalance between MIM and its paired assets. This fragmentation meant that moderate selling pressure could not be absorbed without significant price impact. The article from The Crypto Times notes that when broader market pressure pushed sellers into these shallow pools, the price had no support mechanism. Blockaid flagged deteriorating conditions specifically on Arbitrum, where executable swap routes showed MIM trading at a material discount to other chains. The Webacy analysis noted that by June 14, MIM had reached approximately 1,822 basis points below peg and did not recover, in contrast to other depegged stablecoins that showed partial recovery. A contributing factor identified by CryptoNews.net was a recent shift in Abracadabra's DeFi incentive strategy, which altered the reward structure for liquidity providers and contributed to an unexpected liquidity drain.","heading":"Root Cause: Liquidity Fragility","severity":"critical","sources":[{"credibility":2,"name":"MIM Depegs Below $0.89 Twice in a Week on Thin DEX Liquidity","type":"news_article","url":"https://coinpaprika.com/news/mim-depegs-below-089-twice-week-thin-dex/"},{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg","type":"news_article","url":"https://cryptonews.net/news/defi/33010099/"},{"credibility":2,"name":"Stablecoin Depegs Explained: apxUSD, MIM, USR, and StablR Under the Microscope","type":"research","url":"https://www.webacy.com/blog/stablecoin-depegs-beyond-the-price"}]},{"content":"In response to the June 2026 liquidity crisis, Abracadabra.money injected $100,000 of MIM alongside USDT and USDC into its primary Curve Finance liquidity pool. The team cited an 'unexpected liquidity drain' as the trigger for this intervention. On June 11, 2026, the protocol submitted a governance proposal to add a MIM-2Pool gauge on Curve Finance; however, the seven-day governance timeline meant this could not provide immediate relief. Beginning June 18, 2026, Abracadabra planned to distribute 140 million SPELL tokens to liquidity providers in the MIM pool, aiming to attract new capital and reduce the depeg. The protocol acknowledged publicly that improving MIM's liquidity was its 'top operational priority.' CryptoRank reported on the $100K Curve injection as the primary immediate stabilization measure.","heading":"Protocol Response to June 2026 Depeg","severity":"high","sources":[{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg","type":"news_article","url":"https://cryptonews.net/news/defi/33010099/"},{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg (CryptoRank)","type":"news_article","url":"https://cryptorank.io/news/feed/23398-abracadabra-money-injects-100k-curve-pool-mim-depeg"},{"credibility":2,"name":"MIM stablecoin drops to $0.87 as algorithmic dollar tokens keep losing their pegs","type":"news_article","url":"https://cryptonews.net/news/defi/33005806/"}]},{"content":"On January 30–31, 2024, Abracadabra Finance suffered its first major exploit, with over $6.4 million in crypto assets drained from the protocol. According to BlockSec CTO Lei Wu, the attacker exploited a rounding error causing precision loss in the smart contract, which enabled manipulation of the protocol's debt recording mechanism. This allowed the attacker to bypass insolvency checks and borrow MIM stablecoins with insufficient collateral. The exploit was funded with 1 ETH sourced through Tornado Cash. The attack caused MIM to briefly depeg, falling to approximately $0.77 before recovering toward $0.98. The affected contract still held over $29 million at the time of the exploit. CoinTelegraph and CoinMarketCap both reported on the event as a significant security failure for the protocol.","heading":"January 2024 Exploit ($6.4M)","severity":"critical","sources":[{"credibility":2,"name":"Abracadabra Finance Hit By Exploit, $6.4M Drained and MIM Stablecoin Depegs","type":"news_article","url":"https://coinmarketcap.com/academy/article/abracadabra-finance-hit-by-exploit-dollar64m-drained-and-mim-stablecoin-depegs"},{"credibility":2,"name":"Abracadabra's $6.49M loss leads to MIM stablecoin destabilization","type":"news_article","url":"https://cointelegraph.com/news/abracadabra-s-6-49m-loss-leads-to-mim-stablecoin-destabilization"},{"credibility":2,"name":"Abracadabra Money Exploit: Turning 1 ETH into $6.49 Million","type":"research","url":"https://threesigma.xyz/blog/exploit/abracadabra-money-security-exploit-explained"}]},{"content":"On March 25, 2025, Abracadabra Finance suffered its second major security incident, with approximately $13 million (6,262 ETH) drained from the protocol. The attacker exploited Abracadabra's isolated lending markets known as 'cauldrons' that used GM tokens — GMX V2 liquidity positions — as collateral. Security researchers, including Weilin Li, described the attack as a flash loan exploit in which the attacker manipulated the liquidation process: the attacker liquidated themselves within a flash loan context and extracted profit from liquidation incentives. PeckShield identified vulnerabilities in the smart contracts related to both GMX and Abracadabra, though GMX publicly distanced itself from the incident, stating that 'GMX's contracts themselves were unaffected' and the breach was 'solely related to the Abracadabra/Spell cauldrons.' The affected cauldrons had previously been audited by Guardian Audits. Abracadabra confirmed the exploit, paused affected contracts, and offered the attacker a 20% bug bounty. The stolen funds were bridged from Arbitrum to Ethereum. No user collateral was reportedly affected, according to Abracadabra's official statement.","heading":"March 2025 Exploit ($13M)","severity":"critical","sources":[{"credibility":1,"name":"Abracadabra Drained of $13M in Exploit Targeting Cauldrons Tied to GMX Liquidity Tokens","type":"news_article","url":"https://www.coindesk.com/business/2025/03/25/abracadabra-drained-of-usd13m-in-exploit-targeting-cauldrons-tied-to-gmx-liquidity-tokens"},{"credibility":2,"name":"$13 Million Stolen from Abracadabra.Money in Exploit Targeting GMX Liquidity Pools","type":"news_article","url":"https://finance.yahoo.com/news/13-million-stolen-abracadabra-money-005501164.html"},{"credibility":1,"name":"Hacker steals $13 million in Abracadabra's Magic Internet Money seemingly using a flash loan attack","type":"news_article","url":"https://www.theblock.co/post/348059/hacker-steals-13-million-in-abracadabras-magic-internet-money-seemingly-using-a-flash-loan-attack"},{"credibility":2,"name":"Explained: The Abracadabra Money Hack (March 2025)","type":"research","url":"https://www.halborn.com/blog/post/explained-the-abracadabra-money-hack-march-2025"}]},{"content":"On October 4, 2025, Abracadabra Finance suffered a third major exploit, with approximately $1.7–1.8 million drained from the protocol. The breach was first flagged by blockchain security firm Go Security. Security researcher Weilin Li explained that the attacker manipulated Abracadabra's smart contract variables to bypass a solvency check, enabling undercollateralized borrowing beyond the intended limit. Blockchain audit firm Phalcon traced the root cause to a faulty logic sequence in the platform's 'cook' function — a mechanism allowing users to bundle multiple protocol actions in a single transaction. By bundling a borrow action with a rogue action ID 0, the attacker drew out an undercollateralized loan while avoiding the solvency check. The attacker extracted approximately 395 ETH, which was subsequently laundered via Tornado Cash; Go Security confirmed approximately 51 ETH had already been laundered at the time of reporting. In response, Abracadabra's team paused all contracts and purchased 1.79 million MIM from the open market to offset the minted supply and maintain the stablecoin's peg. This was characterized as Abracadabra's third major exploit in under two years, bringing cumulative losses to over $21 million.","heading":"October 2025 Exploit ($1.7M)","severity":"critical","sources":[{"credibility":2,"name":"Abracadabra Suffers Third DeFi Exploit As Hackers Drain $1.7 million","type":"news_article","url":"https://finance.yahoo.com/news/abracadabra-suffers-third-defi-exploit-150012459.html"},{"credibility":1,"name":"Abracadabra loses $1.8 million in protocol's third major DeFi hack since 2024","type":"news_article","url":"https://www.theblock.co/post/373453/abracadabra-loses-1-8-million-in-protocols-third-major-defi-hack-since-2024"},{"credibility":2,"name":"MIM Spell Third Exploit: Inside the $1.7M Abracadabra Hack","type":"research","url":"https://threesigma.xyz/blog/exploit/mimspell-abracadabra-hack-breakdown"},{"credibility":2,"name":"Abracadabra Money hit for $1.7 million in suspected hack","type":"news_article","url":"https://www.cryptopolitan.com/abracadabra-money-hit-suspected-hack/"},{"credibility":2,"name":"Explained: The Abracadabra Hack (October 2025)","type":"research","url":"https://www.halborn.com/blog/post/explained-the-abracadabra-hack-october-2025"}]},{"content":"Abracadabra Finance was co-founded by Daniele Sestagalli, an Italian-born engineer who began engaging with Bitcoin in 2011. Sestagalli is also the founder of Popsicle Finance and Wonderland (an Avalanche-based OlympusDAO fork), and was previously involved with Zulu Republic on Ethereum. The protocol's co-founder uses the pseudonym 'Squirrel.' In January 2022, crypto investigator ZachXBT revealed that Wonderland's CFO, known as 0xSifu, was Michael Patryn — co-founder of the collapsed Canadian exchange QuadrigaCX — who had also pleaded guilty to conspiracy to commit credit card fraud, burglary, grand larceny, and computer fraud under a prior identity (Omar Dhanani). Following this disclosure, Sestagalli admitted he had known of 0xSifu's identity for approximately one month prior to the public revelation, stating he had chosen not to disclose it because he believed in giving second chances. The revelation caused the prices of TIME, SPELL, and ICE tokens to collapse simultaneously. Sestagalli later announced Wonderland's closure but reversed that decision following community pressure. This reputational incident, while not directly tied to MIM's smart contract security, affected trust across all of Sestagalli's affiliated projects including Abracadabra Finance.","heading":"Founder Background and the Wonderland Scandal","severity":"high","sources":[{"credibility":2,"name":"Wonderland ($TIME) and $MIM scandal: what you need to know","type":"news_article","url":"https://pontem.network/posts/wonderland-time-and-mim-scandal-what-you-need-to-know"},{"credibility":2,"name":"Rekt - Sifu Scandal","type":"news_article","url":"https://rekt.news/sifu-scandal"},{"credibility":2,"name":"How DeFi Protocol Wonderland Avoided Shutdown After Scandal","type":"news_article","url":"https://decrypt.co/91968/how-wonderland-daniele-sestagalli-defi-avoided-shutting-down-after-michael-patryn-scandal"}]},{"content":"MIM is an algorithmic, overcollateralized stablecoin. Unlike fiat-backed stablecoins such as USDT or USDC, MIM maintains its peg through arbitrage incentives, smart contract mechanisms, and secondary market liquidity rather than direct fiat reserves. This design makes MIM inherently more vulnerable to liquidity-driven depegs when DEX pool depths are insufficient to absorb selling pressure. MIM has experienced multiple depeg events across its history: it lost its peg following the Terra ecosystem collapse in 2022, briefly reached $0.77 following the January 2024 exploit, and sustained an 18% depeg through mid-June 2026. As of mid-June 2026, MIM's market capitalization was approximately $90.57 million — a significant contraction from its peak of several billion dollars. MIM's integration across multiple DeFi protocols means a sustained depeg creates potential for cascading effects, including liquidations of positions collateralized by MIM and impaired solvency for protocols that accept MIM as collateral. The protocol has acknowledged that SPELL token incentives represent its primary tool for rebuilding liquidity, though the effectiveness of this mechanism given MIM's current confidence deficit remains uncertain.","heading":"Stablecoin Mechanism and Systemic Risk","severity":"high","sources":[{"credibility":2,"name":"MIM Depegs Below $0.89 Twice in a Week on Thin DEX Liquidity","type":"news_article","url":"https://coinpaprika.com/news/mim-depegs-below-089-twice-week-thin-dex/"},{"credibility":2,"name":"Stablecoin Depegs Explained: apxUSD, MIM, USR, and StablR Under the Microscope","type":"research","url":"https://www.webacy.com/blog/stablecoin-depegs-beyond-the-price"},{"credibility":2,"name":"Magic Internet Money (MIM): A Yield-Bearing Stablecoin","type":"research","url":"https://www.gemini.com/cryptopedia/magic-internet-money-mim-crypto-abracadabra-money"},{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg","type":"news_article","url":"https://cryptonews.net/news/defi/33010099/"}]},{"content":"Between January 2024 and October 2025, Abracadabra Finance suffered at least three confirmed exploits resulting in cumulative losses exceeding $21 million. Each exploit targeted different aspects of the protocol's smart contract architecture: the January 2024 incident exploited a rounding precision error in debt accounting; the March 2025 incident exploited a vulnerability in the liquidation logic of GMX-integrated cauldrons via flash loans; and the October 2025 incident exploited a faulty action-bundling logic in the cook function to bypass solvency checks. Multiple exploits occurred even after Guardian Audits had reviewed portions of the codebase, raising questions about the protocol's ongoing security posture. The Block characterized the October 2025 incident as the protocol's 'third major DeFi hack since 2024,' and multiple security firms including Halborn, PeckShield, Phalcon, and Three Sigma have published post-mortems on the incidents. Stolen funds in the October 2025 exploit were laundered through Tornado Cash, complicating recovery efforts.","heading":"Cumulative Security Record","severity":"critical","sources":[{"credibility":1,"name":"Abracadabra loses $1.8 million in protocol's third major DeFi hack since 2024","type":"news_article","url":"https://www.theblock.co/post/373453/abracadabra-loses-1-8-million-in-protocols-third-major-defi-hack-since-2024"},{"credibility":2,"name":"Abracadabra Suffers Third DeFi Exploit As Hackers Drain $1.7 million","type":"news_article","url":"https://finance.yahoo.com/news/abracadabra-suffers-third-defi-exploit-150012459.html"},{"credibility":1,"name":"Abracadabra Drained of $13M in Exploit Targeting Cauldrons Tied to GMX Liquidity Tokens","type":"news_article","url":"https://www.coindesk.com/business/2025/03/25/abracadabra-drained-of-usd13m-in-exploit-targeting-cauldrons-tied-to-gmx-liquidity-tokens"},{"credibility":2,"name":"Abracadabra Finance Hit By Exploit, $6.4M Drained and MIM Stablecoin Depegs","type":"news_article","url":"https://coinmarketcap.com/academy/article/abracadabra-finance-hit-by-exploit-dollar64m-drained-and-mim-stablecoin-depegs"}]}],"sources_used":[{"credibility":2,"name":"Magic Internet Money Depegs for Second Time in a Week Amid Liquidity Stress","type":"news_article","url":"https://www.cryptotimes.io/2026/06/12/magic-internet-money-depegs-for-second-time-in-a-week-amid-liquidity-stress/"},{"credibility":2,"name":"MIM stablecoin drops to $0.87 as algorithmic dollar tokens keep losing their pegs","type":"news_article","url":"https://cryptonews.net/news/defi/33005806/"},{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg","type":"news_article","url":"https://cryptonews.net/news/defi/33010099/"},{"credibility":2,"name":"Stablecoin Depegs Explained: apxUSD, MIM, USR, and StablR Under the Microscope","type":"research","url":"https://www.webacy.com/blog/stablecoin-depegs-beyond-the-price"},{"credibility":2,"name":"MIM Depegs Below $0.89 Twice in a Week on Thin DEX Liquidity","type":"news_article","url":"https://coinpaprika.com/news/mim-depegs-below-089-twice-week-thin-dex/"},{"credibility":2,"name":"Abracadabra Finance Hit By Exploit, $6.4M Drained and MIM Stablecoin Depegs","type":"news_article","url":"https://coinmarketcap.com/academy/article/abracadabra-finance-hit-by-exploit-dollar64m-drained-and-mim-stablecoin-depegs"},{"credibility":2,"name":"Abracadabra's $6.49M loss leads to MIM stablecoin destabilization","type":"news_article","url":"https://cointelegraph.com/news/abracadabra-s-6-49m-loss-leads-to-mim-stablecoin-destabilization"},{"credibility":1,"name":"Abracadabra Drained of $13M in Exploit Targeting Cauldrons Tied to GMX Liquidity Tokens","type":"news_article","url":"https://www.coindesk.com/business/2025/03/25/abracadabra-drained-of-usd13m-in-exploit-targeting-cauldrons-tied-to-gmx-liquidity-tokens"},{"credibility":1,"name":"Hacker steals $13 million in Abracadabra's Magic Internet Money seemingly using a flash loan attack","type":"news_article","url":"https://www.theblock.co/post/348059/hacker-steals-13-million-in-abracadabras-magic-internet-money-seemingly-using-a-flash-loan-attack"},{"credibility":2,"name":"$13 Million Stolen from Abracadabra.Money in Exploit Targeting GMX Liquidity Pools (Yahoo Finance)","type":"news_article","url":"https://finance.yahoo.com/news/13-million-stolen-abracadabra-money-005501164.html"},{"credibility":2,"name":"Explained: The Abracadabra Money Hack (March 2025)","type":"research","url":"https://www.halborn.com/blog/post/explained-the-abracadabra-money-hack-march-2025"},{"credibility":2,"name":"Abracadabra Suffers Third DeFi Exploit As Hackers Drain $1.7 million","type":"news_article","url":"https://finance.yahoo.com/news/abracadabra-suffers-third-defi-exploit-150012459.html"},{"credibility":1,"name":"Abracadabra loses $1.8 million in protocol's third major DeFi hack since 2024","type":"news_article","url":"https://www.theblock.co/post/373453/abracadabra-loses-1-8-million-in-protocols-third-major-defi-hack-since-2024"},{"credibility":2,"name":"MIM Spell Third Exploit: Inside the $1.7M Abracadabra Hack","type":"research","url":"https://threesigma.xyz/blog/exploit/mimspell-abracadabra-hack-breakdown"},{"credibility":2,"name":"Abracadabra Money hit for $1.7 million in suspected hack","type":"news_article","url":"https://www.cryptopolitan.com/abracadabra-money-hit-suspected-hack/"},{"credibility":2,"name":"Explained: The Abracadabra Hack (October 2025)","type":"research","url":"https://www.halborn.com/blog/post/explained-the-abracadabra-hack-october-2025"},{"credibility":2,"name":"Rekt - Sifu Scandal","type":"news_article","url":"https://rekt.news/sifu-scandal"},{"credibility":2,"name":"How DeFi Protocol Wonderland Avoided Shutdown After Scandal","type":"news_article","url":"https://decrypt.co/91968/how-wonderland-daniele-sestagalli-defi-avoided-shutting-down-after-michael-patryn-scandal"},{"credibility":2,"name":"Wonderland ($TIME) and $MIM scandal: what you need to know","type":"news_article","url":"https://pontem.network/posts/wonderland-time-and-mim-scandal-what-you-need-to-know"},{"credibility":2,"name":"Abracadabra Money Exploit: Turning 1 ETH into $6.49 Million","type":"research","url":"https://threesigma.xyz/blog/exploit/abracadabra-money-security-exploit-explained"},{"credibility":2,"name":"Magic Internet Money (MIM): A Yield-Bearing Stablecoin","type":"research","url":"https://www.gemini.com/cryptopedia/magic-internet-money-mim-crypto-abracadabra-money"},{"credibility":2,"name":"Abracadabra.money injects $100K into Curve pool to stem MIM stablecoin depeg (CryptoRank)","type":"news_article","url":"https://cryptorank.io/news/feed/23398-abracadabra-money-injects-100k-curve-pool-mim-depeg"}],"summary":"Abracadabra Finance is a multi-chain DeFi lending protocol that allows users to mint its USD-pegged stablecoin Magic Internet Money (MIM) against interest-bearing collateral. The protocol has suffered four significant security exploits between January 2024 and October 2025, with cumulative losses exceeding $21 million, and its MIM stablecoin depegged twice in a single week in June 2026 — reaching as low as $0.80 — due to critically thin DEX exit liquidity. As of mid-June 2026, MIM was trading approximately 18% below its $1 peg, with the protocol relying on a 140 million SPELL token incentive program to attract liquidity providers.","timeline":[{"date":"2021-01-01","event":"Abracadabra Finance launches, offering MIM minting against interest-bearing collateral tokens. SPELL is the protocol's governance and incentive token.","source":"Gemini Cryptopedia","source_url":"https://www.gemini.com/cryptopedia/magic-internet-money-mim-crypto-abracadabra-money"},{"date":"2022-01-27","event":"ZachXBT reveals Wonderland CFO 0xSifu is Michael Patryn, co-founder of QuadrigaCX. Daniele Sestagalli admits he knew for a month. SPELL, TIME, and ICE tokens crash.","source":"Rekt News - Sifu Scandal","source_url":"https://rekt.news/sifu-scandal"},{"date":"2022-05-01","event":"MIM depegs amid the Terra/Luna ecosystem collapse, contributing to broader algorithmic stablecoin contagion.","source":"Cryptopolitan","source_url":"https://www.cryptopolitan.com/mim-algorithmic-stablecoin-loses-peg/"},{"date":"2024-01-31","event":"Abracadabra Finance loses over $6.4 million in an exploit targeting a rounding precision error in the debt accounting smart contract. MIM depegs to approximately $0.77.","source":"CoinMarketCap Academy","source_url":"https://coinmarketcap.com/academy/article/abracadabra-finance-hit-by-exploit-dollar64m-drained-and-mim-stablecoin-depegs"},{"date":"2025-03-25","event":"Second major exploit drains approximately $13 million (6,262 ETH) via a flash loan attack targeting GMX V2-integrated cauldrons. Abracadabra offers 20% bounty.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2025/03/25/abracadabra-drained-of-usd13m-in-exploit-targeting-cauldrons-tied-to-gmx-liquidity-tokens"},{"date":"2025-10-04","event":"Third exploit drains approximately $1.7–1.8 million by bypassing a solvency check via the cook function. Approximately 395 ETH laundered through Tornado Cash. Contracts paused.","source":"The Block","source_url":"https://www.theblock.co/post/373453/abracadabra-loses-1-8-million-in-protocols-third-major-defi-hack-since-2024"},{"date":"2026-06-08","event":"MIM depegs for the first time, dropping to approximately $0.8065 amid thin DEX exit liquidity.","source":"The Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/12/magic-internet-money-depegs-for-second-time-in-a-week-amid-liquidity-stress/"},{"date":"2026-06-11","event":"Abracadabra submits a governance proposal to add a MIM-2Pool gauge on Curve Finance to attract CRV emissions and improve liquidity.","source":"CryptoNews.net","source_url":"https://cryptonews.net/news/defi/33005806/"},{"date":"2026-06-12","event":"MIM depegs a second time in one week, falling to $0.8776 with a 10.93% decline in 24 hours. Blockaid flags the event and attributes it to thin, imbalanced Arbitrum pools.","source":"The Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/12/magic-internet-money-depegs-for-second-time-in-a-week-amid-liquidity-stress/"},{"date":"2026-06-14","event":"MIM reaches approximately 1,822 basis points (18%) below peg and stabilizes at the depressed level rather than recovering, per Webacy analysis.","source":"Webacy","source_url":"https://www.webacy.com/blog/stablecoin-depegs-beyond-the-price"},{"date":"2026-06-15","event":"Abracadabra injects $100,000 of MIM/USDT/USDC into its primary Curve Finance pool in an emergency liquidity intervention. MIM trading at approximately $0.8232.","source":"CryptoNews.net","source_url":"https://cryptonews.net/news/defi/33010099/"},{"date":"2026-06-18","event":"Abracadabra launches planned 140 million SPELL token incentive distribution to liquidity providers in the MIM pool, in an attempt to rebuild DEX depth.","source":"CryptoNews.net","source_url":"https://cryptonews.net/news/defi/33010099/"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision c231e592-903c-4403-b022-a2d0132bcc8bcopy