{"investigation":{"slug":"evmos-network","entity_name":"Evmos Network","trust_score":30,"severity_base":null,"score_modifier":0,"confidence":0.78,"status":"published","content_type":"investigation","summary":"Evmos was a Cosmos-based, EVM-compatible proof-of-stake blockchain developed by Tharsis Labs that launched on mainnet in April 2022 and raised $27 million in a token sale led by Polychain Capital. The network was formally shut down on approximately May 18, 2026, after Governance Proposal #331 passed with 99.8% approval, halting all block production at block height 37,318,000. Following discontinuation, an authorization vulnerability in the Evmos vesting and lockup module — left unpatched because the codebase was no longer maintained — was exploited in August 2026 to drain approximately $3 million from BounceBit Chain, a third-party network built on the Evmos stack.","sections":[{"content":"Evmos originated as a concept in 2016 under the name Ethermint and was developed by Tharsis Labs, co-founded by Federico Kunze Küllmer, Akash Khosla, and Nic Z. It launched on Cosmos mainnet in April 2022 following a troubled initial attempt in March 2022 that was derailed by chain halts and token-claiming issues. At launch, Evmos distributed 100 million EVMOS tokens to approximately two million eligible recipients through its 'Rektdrop' genesis airdrop, designed in part to compensate participants who had experienced losses in other crypto projects. The network was Inter Blockchain Communication (IBC)-enabled and positioned as the flagship EVM-compatible chain within the Cosmos ecosystem, allowing Ethereum smart contracts to be deployed on a Cosmos-based network.","heading":"Background and Launch","sources":[{"url":"https://www.coindesk.com/business/2022/03/02/evmos-looks-to-jumpstart-ethereumcosmos-interoperability-with-airdrop-mainnet-launch","name":"Evmos Looks to Jump-Start Ethereum-Cosmos Interoperability With Airdrop, Mainnet Launch","type":"news_article","credibility":1},{"url":"https://pontem.network/posts/an-overview-of-evmos","name":"AN OVERVIEW OF EVMOS — Pontem Network","type":"research","credibility":2}],"severity":"low"},{"content":"In November 2022, Tharsis Labs announced the closing of a $27 million token sale led by Polychain Capital. Additional participants included Galaxy, Huobi, HashKey, Coinbase Ventures, Circle Ventures, and Asymmetric, along with angel investors. The funds were designated for engineering hires, ecosystem partnerships, and development of interoperable decentralized applications.","heading":"Funding","sources":[{"url":"https://www.theblock.co/post/182223/evmos-developers-raise-27-million-in-a-token-sale-led-by-polychain","name":"Evmos developers raise $27 million in a token sale led by Polychain","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/business/2022/11/02/evmos-connector-of-cosmos-and-ethereum-blockchains-raises-27m-in-token-sale","name":"Evmos Connector of Cosmos and Ethereum Blockchains Raises $27M in Token Sale","type":"news_article","credibility":1}],"severity":"low"},{"content":"Co-founder Akash Khosla departed Evmos in May 2023, reportedly due to operational disagreements. Following his departure, Evmos team members alleged that Khosla had attempted to sell large amounts of EVMOS tokens on the open market, including a reported attempt to sell 500,000 EVMOS on Osmosis. These allegations were made by the Evmos team and have not been adjudicated. In January 2024, Khosla agreed to return 59.4 million tokens — comprising approximately 32 million of his own allocated tokens and the remainder unallocated team tokens — to the Evmos Foundation, for an undisclosed consideration. The return was described by the Foundation as initiating 'a new phase of our project.'","heading":"Co-founder Departure and Token Controversy","sources":[{"url":"https://www.theblock.co/post/231703/departed-evmos-co-founder-sells-thousands-of-tokens-the-team-claims","name":"Departed Evmos co-founder sells thousands of tokens, the team claims","type":"news_article","credibility":1},{"url":"https://www.theblock.co/amp/post/270863/evmos-foundation-cofounder-tokens","name":"Evmos Foundation takes back $7.6 million in tokens from co-founder","type":"news_article","credibility":1},{"url":"https://coinmarketcap.com/academy/article/departing-evmos-co-founder-returns-dollar76-million-evmos-tokens-to-the-foundation","name":"Departing Evmos Co-founder Returns $7.6 million EVMOS Tokens to the Foundation","type":"news_article","credibility":2}],"severity":"medium"},{"content":"In March 2025, the Interchain Foundation (ICF) funded Tharsis Labs to publish evmOS — the underlying technology stack powering Evmos — as open source under the Apache 2.0 license. The ICF subsequently forked and renamed the project 'Cosmos EVM,' integrating it into the official Interchain software stack alongside the Cosmos SDK. This established Evmos-derived technology as the canonical EVM framework for the broader Cosmos ecosystem of over 200 application-specific chains.","heading":"evmOS Open-Sourcing and Cosmos Integration","sources":[{"url":"https://www.coindesk.com/press-release/2025/03/17/interchain-foundation-funds-tharsis-labs-to-publish-evmos-open-source-strengthening-ethereum-cosmos-support-and-interoperability","name":"Interchain Foundation Funds Tharsis Labs to publish evmOS open-source","type":"news_article","credibility":1},{"url":"https://www.theblock.co/post/346955/cosmos-evm","name":"Cosmos gets native EVM framework as it open-sources Evmos","type":"news_article","credibility":1}],"severity":"low"},{"content":"On approximately May 15, 2026, the Evmos community passed Governance Proposal #331, titled 'Evmos Shutdown,' with 99.8% of votes in favor. Block production ceased at block height 37,318,000 on approximately May 18, 2026. Following the halt, the Evmos block explorer, official website, and all associated infrastructure became inaccessible. Total value locked (TVL) on the network dropped to zero. The shutdown was a planned, governance-approved action rather than an emergency halt.","heading":"Governance-Approved Shutdown (May 2026)","sources":[{"url":"https://www.kucoin.com/news/flash/cosmos-evm-chain-evmos-network-officially-shut-down-website-and-infrastructure-unavailable","name":"Cosmos EVM Chain Evmos Network officially shut down — KuCoin","type":"news_article","credibility":2},{"url":"https://phemex.com/news/article/evmos-halts-operations-following-shutdown-proposal-approval-85093","name":"Evmos Ceases Operations After Shutdown Proposal — Phemex News","type":"news_article","credibility":2},{"url":"https://www.weex.com/news/detail/the-cosmos-ecosystem-evmos-network-has-been-shut-down-ja06ysg42xrclewedti9tj7k","name":"The Cosmos ecosystem Evmos network has been shut down — WEEX","type":"news_article","credibility":2},{"url":"https://www.bitget.com/amp/news/detail/12560605425480","name":"Cosmos ecosystem chain Evmos ceased operations — Bitget News","type":"news_article","credibility":2}],"severity":"high"},{"content":"In August 2026, BounceBit Chain — a Bitcoin restaking platform whose Layer 1 was built on the Evmos technology stack — suffered an exploit in which an attacker transferred approximately 286.5 million BB tokens, valued at roughly $3.1 million, from nine mainnet accounts across 14 transactions between August 19 and August 20, 2026. The vulnerability was an authorization flaw in the vesting and lockup account module inherited from Evmos: a smart contract caller could specify another account as the source of funds without the module verifying that the account had authorized the transaction. No private keys were compromised; the flaw was purely at the protocol level. BounceBit stated that the underlying cause was a bug in the Evmos-derived codebase and that patching it was not feasible because Evmos itself had already been discontinued. Remediation would have required 'a full rebuild, re-audit, and revalidation' of the chain on a successor codebase. BounceBit subsequently shut down its Layer 1 and announced that BB tokens would be reissued as BEP-20 tokens on BNB Chain using a pre-exploit snapshot. Security analysts noted that the incident illustrates a systemic risk: projects built on discontinued blockchain infrastructure cannot receive upstream security patches, leaving known vulnerabilities permanently exploitable.","heading":"Downstream Security Impact: BounceBit $3M Exploit (August 2026)","sources":[{"url":"https://protos.com/yzi-labs-backed-bouncebit-chain-shuts-down-after-3m-exploit/","name":"YZi Labs-backed BounceBit Chain shuts down after $3M exploit — Protos","type":"news_article","credibility":2},{"url":"https://www.theblock.co/news/ecosystems/2026-08-21-bouncebit-sunset-blockchain-migrate-bnb-chain-after-3-million-exploit-412485","name":"BounceBit to sunset blockchain, migrate to BNB Chain after $3 million exploit — The Block","type":"news_article","credibility":1},{"url":"https://pro.edgex.exchange/news/article/bouncebit-shuts-down-chain-after-bb-token-exploit","name":"BounceBit Shuts Down Layer 1 After Authorization Exploit, Will Reissue BB on BNB Chain — EdgeX","type":"news_article","credibility":2},{"url":"https://cryptoadventure.com/bouncebit-shuts-down-layer-1-after-3m-bb-exploit-moves-token-to-bnb-chain/","name":"BounceBit Shuts Down Layer 1 After $3M BB Exploit, Moves Token to BNB Chain — CryptoAdventure","type":"news_article","credibility":2},{"url":"https://mpost.io/august-2026s-exploit-wave-governance-failures-protocol-bugs-and-a-widening-attack-surface/","name":"August 2026's Exploit Wave: Governance Failures, Protocol Bugs, And A Widening Attack Surface — Metaverse Post","type":"news_article","credibility":2},{"url":"https://www.crowdfundinsider.com/2026/08/300073-bitcoin-restaking-platform-bouncebit-to-wind-down-l1-blockchain-following-exploit/","name":"Bitcoin Restaking Platform BounceBit To Wind Down L1 Blockchain Following Exploit — Crowdfund Insider","type":"news_article","credibility":2}],"severity":"critical"},{"content":"Separately from the BounceBit exploit, Cosmos Labs disclosed on approximately August 24, 2026 that an active security incident was targeting chains built with its Cosmos EVM module (the successor framework derived from evmOS). Cosmos Labs urged any public chain running Cosmos EVM below versions v0.6.2 or v0.7.2 to halt immediately. KiiChain reported approximately 148 million KII tokens drained, and MANTRA Chain experienced a breach requiring a 30-hour halt before applying emergency patches. TAC was also affected. This incident is distinct from the BounceBit exploit, affecting maintained chains running the successor Cosmos EVM codebase rather than deprecated Evmos forks, but it demonstrates the persistence of authorization-class vulnerabilities within the broader Evmos-derived technology lineage.","heading":"Broader Cosmos EVM Security Incident (August 2026)","sources":[{"url":"https://thedefiant.io/news/blockchains/cosmos-labs-urges-evm-chains-halt-shared-bug-drains-three-networks","name":"Cosmos Labs Urges EVM Chains To Halt As Shared Bug Drains Three Networks — The Defiant","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/cosmos-labs-warns-of-security-incident-affecting-cosmos-evm-module-users","name":"Cosmos Labs Warns of Security Incident Affecting Cosmos EVM Module Users — KuCoin","type":"news_article","credibility":2},{"url":"https://crypto.news/cosmos-evm-chains-told-to-halt-after-security-incident/","name":"Cosmos EVM chains told to halt after security incident — crypto.news","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/08/26/cosmos-labs-says-many-evm-chains-patched-after-security-incident/","name":"Cosmos Labs Says Many EVM Chains Patched After Security Incident — Crypto Times","type":"news_article","credibility":2}],"severity":"high"},{"content":"As of August 2026, Evmos Network is permanently offline. All official infrastructure — including the website, block explorer, and validator nodes — is inactive. The EVMOS token retains no functional blockchain utility. Any third-party projects that forked or built upon the Evmos codebase and have not migrated to a maintained successor (such as Cosmos EVM) face unresolved exposure to authorization vulnerabilities that cannot be patched through the original upstream codebase. The BounceBit incident confirmed that these risks are not theoretical: at least one exploiter successfully weaponized an unpatched Evmos-stack flaw after the network's discontinuation.","heading":"Current Status and Persistent Risk","sources":[{"url":"https://protos.com/yzi-labs-backed-bouncebit-chain-shuts-down-after-3m-exploit/","name":"YZi Labs-backed BounceBit Chain shuts down after $3M exploit — Protos","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/cosmos-evm-chain-evmos-network-officially-shut-down-website-and-infrastructure-unavailable","name":"Cosmos EVM Chain Evmos Network officially shut down — KuCoin","type":"news_article","credibility":2}],"severity":"high"}],"timeline":[{"date":"2016-01-01","event":"Evmos (then called Ethermint) first conceptualized by Federico Kunze Küllmer and team.","source":"Pontem Network overview","source_url":"https://pontem.network/posts/an-overview-of-evmos"},{"date":"2022-03-02","event":"Evmos attempts mainnet launch; chain halt and token-claiming issues force postponement.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2022/03/02/evmos-looks-to-jumpstart-ethereumcosmos-interoperability-with-airdrop-mainnet-launch"},{"date":"2022-04-29","event":"Evmos successfully launches on Cosmos mainnet with the Rektdrop airdrop of 100 million EVMOS to approximately 2 million recipients.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2022/03/02/evmos-looks-to-jumpstart-ethereumcosmos-interoperability-with-airdrop-mainnet-launch"},{"date":"2022-11-02","event":"Tharsis Labs closes $27 million token sale led by Polychain Capital.","source":"The Block","source_url":"https://www.theblock.co/post/182223/evmos-developers-raise-27-million-in-a-token-sale-led-by-polychain"},{"date":"2023-05-01","event":"Co-founder Akash Khosla departs Evmos. Evmos team alleges he attempted to sell large quantities of EVMOS tokens on the open market; these allegations were not adjudicated.","source":"The Block","source_url":"https://www.theblock.co/post/231703/departed-evmos-co-founder-sells-thousands-of-tokens-the-team-claims"},{"date":"2024-01-01","event":"Khosla agrees to return 59.4 million EVMOS tokens (valued at approximately $7.6 million) to the Evmos Foundation for an undisclosed consideration.","source":"The Block","source_url":"https://www.theblock.co/amp/post/270863/evmos-foundation-cofounder-tokens"},{"date":"2025-03-17","event":"Interchain Foundation funds Tharsis Labs to publish evmOS as open source; ICF forks the codebase as 'Cosmos EVM' for integration into the Interchain software stack.","source":"CoinDesk","source_url":"https://www.coindesk.com/press-release/2025/03/17/interchain-foundation-funds-tharsis-labs-to-publish-evmos-open-source-strengthening-ethereum-cosmos-support-and-interoperability"},{"date":"2026-05-15","event":"Governance Proposal #331 ('Evmos Shutdown') passes with 99.8% approval.","source":"KuCoin News","source_url":"https://www.kucoin.com/news/flash/cosmos-evm-chain-evmos-network-officially-shut-down-website-and-infrastructure-unavailable"},{"date":"2026-05-18","event":"Evmos ceases all block production at block height 37,318,000. Website, block explorer, and all infrastructure go offline. TVL drops to zero.","source":"Phemex News","source_url":"https://phemex.com/news/article/evmos-halts-operations-following-shutdown-proposal-approval-85093"},{"date":"2026-08-19","event":"Attacker begins exploiting an unpatched Evmos-stack authorization flaw in BounceBit Chain, draining approximately 286.5 million BB tokens (~$3.1 million) over 14 transactions spanning roughly five hours.","source":"Protos","source_url":"https://protos.com/yzi-labs-backed-bouncebit-chain-shuts-down-after-3m-exploit/"},{"date":"2026-08-21","event":"BounceBit announces permanent shutdown of its Layer 1 and migration of BB token to BNB Chain, citing Evmos discontinuation as the reason patching was infeasible.","source":"The Block","source_url":"https://www.theblock.co/news/ecosystems/2026-08-21-bouncebit-sunset-blockchain-migrate-bnb-chain-after-3-million-exploit-412485"},{"date":"2026-08-24","event":"Cosmos Labs discloses a separate active security incident targeting maintained Cosmos EVM chains (successor to evmOS), urging validators on versions below v0.6.2 or v0.7.2 to halt immediately.","source":"The Defiant","source_url":"https://thedefiant.io/news/blockchains/cosmos-labs-urges-evm-chains-halt-shared-bug-drains-three-networks"}],"sources_used":[{"url":"https://www.theblock.co/post/182223/evmos-developers-raise-27-million-in-a-token-sale-led-by-polychain","name":"Evmos developers raise $27 million in a token sale led by Polychain — The Block","type":"news_article","archive_url":null,"credibility":1,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.coindesk.com/business/2022/11/02/evmos-connector-of-cosmos-and-ethereum-blockchains-raises-27m-in-token-sale","name":"Evmos Connector of Cosmos and Ethereum Blockchains Raises $27M in Token Sale — CoinDesk","type":"news_article","archive_url":null,"credibility":1,"archive_timestamp":null},{"url":"https://www.coindesk.com/business/2022/03/02/evmos-looks-to-jumpstart-ethereumcosmos-interoperability-with-airdrop-mainnet-launch","name":"Evmos Looks to Jump-Start Ethereum-Cosmos Interoperability With Airdrop, Mainnet Launch — CoinDesk","type":"news_article","archive_url":null,"credibility":1,"archive_timestamp":null},{"url":"https://www.theblock.co/post/231703/departed-evmos-co-founder-sells-thousands-of-tokens-the-team-claims","name":"Departed Evmos co-founder sells thousands of tokens, the team claims — The Block","type":"news_article","archive_url":null,"credibility":1,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.theblock.co/amp/post/270863/evmos-foundation-cofounder-tokens","name":"Evmos Foundation takes back $7.6 million in tokens from co-founder — The 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Chain Evmos Network officially shut down — KuCoin","type":"news_article","archive_url":"http://web.archive.org/web/20260722134500/https://www.kucoin.com/news/flash/cosmos-evm-chain-evmos-network-officially-shut-down-website-and-infrastructure-unavailable","credibility":2,"archive_timestamp":"2026-07-22T13:45:00+00:00"},{"url":"https://phemex.com/news/article/evmos-halts-operations-following-shutdown-proposal-approval-85093","name":"Evmos Ceases Operations After Shutdown Proposal — Phemex News","type":"news_article","archive_url":"http://web.archive.org/web/20260722134501/https://phemex.com/news/article/evmos-halts-operations-following-shutdown-proposal-approval-85093","credibility":2,"archive_timestamp":"2026-07-22T13:45:01+00:00"},{"url":"https://www.bitget.com/amp/news/detail/12560605425480","name":"Cosmos ecosystem chain Evmos ceased operations — Bitget 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