← Abracadabra Spellreviewed 2026-11-02 · 11 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Abracadabra Spell against the sources the page cites. Only the most recent review is shown.
Read this first
These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
2 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #2[disputed][awaiting moderator]in section: Background
“TVL peaked above $776 million in January 2022 and has since contracted to an estimated $11–30 million range.”
reviewerAbracadabra TVL peaked at about $776 million in January 2022.$776M is not Abracadabra's peak; DeFi Llama via Capital.com gives about $6.4B. Current TVL is also well below the stated $11-30M range (snippet about $4.7M, unfetched).Proposed correction (not yet applied)TVL peaked at approximately $6.4 billion in January 2022 and has since collapsed to a few million dollars. - #3[disputed][awaiting moderator]in the summary
“the protocol's total value locked has collapsed from over $776 million to under $30 million.”
reviewerSummary repeats TVL collapse from over $776 million to under $30 million.Same peak TVL error as sections[0].Proposed correction (not yet applied)the protocol's total value locked has collapsed from approximately $6.4 billion to a few million dollars.
unverifiable
3 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #4[unverifiable][awaiting moderator]in the timeline
“Wonderland (Frog Nation) records near all-time high TVL of approximately $776 million.”
reviewerWonderland (Frog Nation) recorded TVL of about $776 million on 2022-01-15.No source found for $776M for Wonderland or Abracadabra. The timeline entry has no source. The figure appears to have been misapplied to Abracadabra in the prose. - #5[unverifiable][awaiting moderator]in section: On-Chain Evidence & Security Incidents
“A controversy emerged around this incident when Synnax Labs alleged that PeckShield had audited the relevant contracts but failed to detect the vulnerability, and then refunded and removed the audit report after the exploit.”
reviewerOct 2025 incident: PeckShield audited the contracts, missed the bug, then refunded and removed the audit report.Not in the cited Block article and not independently found. It is attributed as an allegation, but the Risk Assessment section then states it as fact. - #10[unverifiable][awaiting moderator]in the summary
“The SPELL token has declined approximately 99.5% from its November 2021 all-time high”
reviewerSPELL declined about 99.5% from its November 2021 ATH.Could not read a current price source. With the wind-down proposal, the real decline is likely larger. The page itself also says 'approximately 99.5%' in early 2026.
stale
2 claimsThe claim was accurate when written but events since have overtaken it.
- #8[stale][awaiting moderator]in section: Team & Ownership
“As of mid-2026, Sestagalli remains publicly associated with the protocol.”
reviewerSestagalli remains publicly associated with the protocol as of mid-2026.Unsourced, and superseded by the September 2026 wind-down proposal. I did not verify Sestagalli's current role, so the correction only adds the sourced wind-down fact.Proposed correction (not yet applied)As of mid-2026, Sestagalli remained publicly associated with the protocol; in September 2026 the DAO voted on a proposal to wind down the protocol and MIM. - #9[stale][awaiting moderator]in the summary
“Abracadabra.money is a multi-chain DeFi lending protocol that allows users to mint the MIM (Magic Internet Money) USD-pegged stablecoin using interest-bearing tokens as collateral.”
reviewerProtocol is described as a live lending protocol and MIM as a functioning stablecoin.Present tense is outdated. The outcome of the vote is not confirmed in the sources I fetched, so the correction says 'proposal'.Proposed correction (not yet applied)Abracadabra.money was a multi-chain DeFi lending protocol that allowed users to mint the MIM (Magic Internet Money) stablecoin using interest-bearing tokens as collateral; MIM has been depegged since June 2026 and a September 2026 DAO proposal seeks to wind down the protocol.
partially supported
1 claimThe cited evidence supports part of the claim but not all of it.
- #6[partially supported][awaiting moderator]in section: Risk Assessment
“The October 2025 incident further implicated an auditor (PeckShield) in failing to detect the vulnerability before the hack.”
reviewerThe Risk Assessment states the October 2025 incident implicated PeckShield as having failed to detect the vulnerability.Hardens an unverified allegation about a named firm into an implication of fact.
confirmed
3 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the summary
“The protocol has been compromised three times since January 2024, losing a combined total of over $21 million”
reviewerProtocol was exploited three times since January 2024 for over $21 million combined.Matches The Block's own tally. - #7[confirmed][no action needed]in section: On-Chain Evidence & Security Incidents
“The attacker subsequently used Tornado Cash to launder proceeds.”
reviewerOct 2025 exploit: about 1.79M MIM, funds laundered via Tornado Cash.Consistent with The Block. - #11[confirmed][no action needed]in section: The Wonderland Controversy
“On January 27, 2022, on-chain investigator ZachXBT publicly revealed that 0xSifu”
reviewerJan 27, 2022 ZachXBT reveal of 0xSifu as Michael Patryn.Date is consistent with CoinDesk's URL date and The Block's coverage. Not read in full.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.