Fact-check findings
What an automated fact-checker found when it re-read Alpha Finance Lab against the sources the page cites. Only the most recent review is shown.
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.
unverifiable
2 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #3[unverifiable][awaiting moderator]in section: February 2021 Exploit — Attribution and Mechanism
“The exploit occurred roughly a month after the protocol had completed two security audits.”
reviewerThe exploit came roughly a month after two security audits were completed.Two audits are mentioned, but the one-month timing is not supported by the sources I read (Halborn and Secureum not checked). - #7[unverifiable][awaiting moderator]in section: Post-Exploit Response and Initial Debt Agreement
“reported figures include roughly $481,746–$500,000 against the original $32.4 million over roughly two years”
reviewerRoughly $481,746-$500,000 of the $32.4M debt had been repaid per Iron Bank.I did not read the Iron Bank Medium timeline, which is the likelier source. This is unverified, not disputed.
partially supported
1 claimThe cited evidence supports part of the claim but not all of it.
- #2[partially supported][awaiting moderator]in section: February 2021 Exploit — Attribution and Mechanism
“The attacker reportedly later returned a portion of funds (1,000 ETH each) to the Alpha and Cream deployer addresses and made a donation to Gitcoin”
reviewerThe attacker returned a portion of funds (1,000 ETH each) to Alpha and Cream deployer addresses and donated to Gitcoin.Cointelegraph describes a tip to Alpha and Iron Bank deployers, not a return of stolen funds to Cream. The Block article does not mention it.
confirmed
4 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in section: February 2021 Exploit — Attribution and Mechanism
“On February 13, 2021, an attacker exploited the newly deployed Alpha Homora v2 contract, draining approximately $37.5 million in ETH and stablecoins.”
reviewerOn February 13, 2021 an attacker exploited Alpha Homora v2 for about $37.5 million in ETH and stablecoins.Date and amount match the cited report. - #4[confirmed][no action needed]in section: Post-Exploit Response and Initial Debt Agreement
“Under the agreement, Alpha Homora would direct 20% of its protocol fees toward repayment and post ALPHA token collateral valued at roughly twice the debt, with a provision allowing Iron Bank to liquidate the collateral if its value fell below about 1.66 times the debt (absent fresh top-ups).”
reviewerAlpha Homora agreed to direct 20% of fees to repayment, post ALPHA collateral at 2x the debt, with liquidation below 1.66x.Matches Alpha's own account. The page already attributes it to the parties' statements. - #5[confirmed][no action needed]in section: Iron Bank Dispute and Frozen User Funds (2023)
“On May 11, 2023, Alpha announced a 'goodwill fund' for affected depositors, consisting of 30 million ALPHA tokens vesting monthly over 18 months (starting May 17, 2023) plus 50% of future Alpha Homora protocol fees for 18 months (up from the 20% originally pledged to Iron Bank)”
reviewerAlpha announced a goodwill fund of 30M ALPHA vesting over 18 months from May 17, 2023, plus 50% of fees for 18 months, based on a May 11, 2023 snapshot.Confirmed against the primary source. - #6[confirmed][no action needed]in the timeline
“Alpha publishes its Eighth Open Letter announcing depositors voted to stop negotiating with Iron Bank.”
reviewerAlpha published its Eighth Open Letter in April 2023 (dated 2023-04-23) announcing depositors voted to stop negotiating.The date and the letter match. The cited page is a summary that links to the letter, not the letter itself.