Agave & Hundred Finance Exploit
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anchored·24Lcsn…NjxeSummary
On March 15, 2022, Agave (an Aave fork on Gnosis Chain) and Hundred Finance (a Compound fork deployed on Gnosis Chain) were simultaneously exploited via a reentrancy attack that abused post-transfer callback hooks in Gnosis Chain's non-standard ERC-677 bridged tokens, resulting in combined losses of approximately $11.7 million. Hundred Finance suffered a second major exploit in April 2023 on Optimism ($7.4 million), after which the protocol voted to shut down permanently in August 2023. Agave continued operating in diminished capacity before its DAO formally wound down in early 2024.
Connected Entities
11 entities · 60 linked investigations- Hundred Finance→mentioned with→Optimism(80%)
- Hundred Finance→mentioned with→Agave(70%)
- Hundred Finance→mentioned with→Bitcoin(60%)
- Hundred Finance→mentioned with→Ethereum(70%)
- Ethereum→mentioned with→Bitcoin(60%)
- Compound V2→mentioned with→Ethereum(80%)
- Compound V2→mentioned with→SushiSwap(60%)
- Cream Finance→mentioned with→Ethereum(70%)
- Cream Finance→mentioned with→Bitcoin(65%)
- Compound V2→mentioned with→Chainlink(60%)
- + 20 more
Timeline(8 events)
11 March 2021
Agave Finance introduces itself publicly as a money market lending and borrowing protocol on the xDai (Gnosis) network, forked from Aave.
Agave Finance Medium15 March 2022
Agave DAO and Hundred Finance are simultaneously exploited via a reentrancy attack on Gnosis Chain abusing ERC-677 onTokenTransfer() callbacks. Agave loses ~2,116 ETH ($5.5M); Hundred Finance loses ~2,363 ETH ($6.2M). Combined loss: ~$11.7M. Both protocols pause contracts.
Rekt News / The Block / CoinDesk15 March 2022
Stolen funds from both exploits are bridged to Ethereum mainnet and deposited into Tornado Cash mixer within hours of the attack.
SlowMist / Rekt News17 March 2022
SharkTeam publishes a technical flash loan and reentrancy attack analysis of the Hundred Finance and Agave exploit.
SharkTeam15 April 2023
Hundred Finance is exploited a second time, this time on Optimism (Ethereum L2), via exchange-rate manipulation on an empty hWBTC market combined with a rounding error. Loss: ~$7.4M. HND token falls ~46%. Protocol pauses all chain deployments.
Cointelegraph / Decrypt / Halborn9 August 2023
Hundred Finance governance votes to shut down the protocol with ~99% approval on Snapshot. Remaining treasury funds directed toward victim compensation. Protocol operations cease.
Web3 Is Going Great / Hundred Finance X25 March 2024
Agave DAO formally closes down after completing its phase-out process. AGVE token holders directed to a redemption portal at agavefinance.eth.limo/redeem/.
Agave Finance website / GitHub phase-out-toolingApril 2024
The attacker who stole $7.4M from Hundred Finance in April 2023 begins moving the stolen assets approximately one year after the exploit, routing them through Curve Finance.
DL News / CointelegraphDecision Log
- slot 425199940 · hash 7rRSXX2DWHW4rTMdRNawBS1iYMkM69HoGn4Bkz6nm8MU
- slot 425199936 · hash SgaS2148JZCgw4ErpJwSUmuRwi27DFnbVU2LSYJc9VM
- slot 423640068 · hash DGHrNzTBvA35Fa18Hdo8Hh3aPajgy3ZWMTx934zchCCn
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 18 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/1/2026, 5:46:40 PM
last updated: 6/1/2026, 5:46:40 PM
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