Abracadabra Spell

2021-11-01

Abracadabra.money launches; SPELL token reaches all-time high of approximately $0.035.

2022-01-15

Wonderland (Frog Nation) records near all-time high TVL of approximately $776 million.

2022-01-27

ZachXBT publicly reveals that 0xSifu, Wonderland's pseudonymous CFO/treasury manager, is Michael Patryn — convicted felon and QuadrigaCX co-founder. Daniele Sestagalli admits he knew Patryn's real identity for approximately one month prior to the disclosure.

2022-01-29

Wonderland DAO votes 88% in favor of removing Sifu as treasury manager; a second vote elects to continue protocol operations rather than unwind.

2022-01-27

SPELL, TIME, and ICE tokens crash on news of the Sifu scandal; approximately $130 million in MIM is dumped by a single wallet within days.

2022-05-01

Terra/LUNA ecosystem collapses. Abracadabra's Degenbox strategy — which created recursive MIM-UST leverage loops — suffers significant contagion losses. MIM experiences depeg pressure.

2024-01-30

First major exploit: rounding precision bug in Cauldron V3/V4 contracts allows attacker to drain approximately $6.5 million in ETH and MIM. MIM briefly depegs to $0.76.

2025-03-01

Second major exploit: attacker drains approximately $13 million (6,262 ETH) via state-tracking flaw in GMX V2 Cauldron integration using a multi-step self-liquidation attack.

2025-10-04

Third major exploit: logic error in deprecated PrivilegedCauldronV4 cook() function allows attacker to bypass solvency checks and steal approximately 1,793,766 MIM and 395 ETH (~$1.8 million). Funds laundered via Tornado Cash. PeckShield subsequently alleged to have missed the vulnerability in a prior audit.