{"investigation":{"slug":"templedao","entity_name":"TempleDAO","trust_score":32,"severity_base":null,"score_modifier":0,"confidence":0.78,"status":"published","content_type":"investigation","summary":"TempleDAO is a DeFi yield protocol launched on Ethereum in August 2021, designed to offer low-volatility, fractionally backed yields on deposited assets. On October 11, 2022, an associated staking product, STAX Finance, suffered a smart contract exploit due to missing access control on the migrateStake() function, resulting in approximately $2.34 million in stolen funds that were subsequently laundered through Tornado Cash. The core TempleDAO vaults were not directly compromised, but the team's anonymous structure and the unrecovered stolen funds remain notable risk factors.","sections":[{"content":"On October 11, 2022, an attacker exploited the StaxLPStaking smart contract associated with STAX Finance, a reward-boosting liquidity layer built on top of TempleDAO. The vulnerability stemmed from a missing onlyMigrator access control check on the migrateStake() function. This flaw allowed any external actor to deploy a contract impersonating the oldStaking parameter and specify an arbitrary deposit amount and recipient address, effectively draining the staking contract. The attacker withdrew approximately 321,154 xLP tokens, which were subsequently converted into 1,831 ETH valued at roughly $2.34 million at the time. The attacker's address (0x9c9fb3100a2a521985f0c47de3b4598dafd25b01) was funded via Binance prior to the attack. Stolen funds were forwarded to a secondary address (0x2b63d4a3b2db8acbb2671ea7b16993077f1db5a0). The exploit was first identified publicly by Twitter user spreekaway and confirmed by blockchain security firms PeckShield and BlockSec. The attack represented approximately 4% of the protocol's total value locked at the time, which stood near $57 million.","heading":"The October 2022 STAX Finance Exploit","sources":[{"url":"https://www.coindesk.com/business/2022/10/11/defi-protocol-temple-dao-struck-by-23m-exploit","name":"coindesk.com","type":"other","credibility":3},{"url":"https://rekt.news/templedao-rekt","name":"rekt.news","type":"other","credibility":3},{"url":"https://www.theblock.co/post/176299/hacker-steals-2-3-million-from-templedao","name":"theblock.co","type":"other","credibility":3},{"url":"https://blockworks.co/news/templedao-loses-2-million-in-latest-exploit","name":"blockworks.co","type":"other","credibility":3}],"severity":"medium"},{"content":"In the days following the exploit, the attacker transferred the entirety of the stolen proceeds — approximately 1,921 ETH worth over $2.5 million at the time of transfer — to Tornado Cash through 21 separate transactions of 100 ETH each. This movement occurred over the weekend of October 15–17, 2022. Tornado Cash, a crypto mixing service sanctioned by the U.S. Treasury's OFAC in August 2022, was used to obfuscate the on-chain trail of the stolen funds. No funds have been publicly reported as recovered. TempleDAO stated it was working with Binance to investigate, as the attacker's funding wallet was linked to a Binance account, but no arrest or fund recovery has been publicly confirmed.","heading":"Fund Movement and Tornado Cash Laundering","sources":[{"url":"https://www.coindesk.com/tech/2022/10/17/templedao-exploiter-moves-ether-worth-over-25m-to-tornado-cash","name":"coindesk.com","type":"other","credibility":3},{"url":"https://www.theblock.co/post/177504/templedao-hacker-moves-funds-via-sanctioned-crypto-mixer-tornado-cash","name":"theblock.co","type":"other","credibility":3},{"url":"https://blockworks.co/news/templedao-hacked-funds-deposited-to-tornado-cash","name":"blockworks.co","type":"other","credibility":3}],"severity":"medium"},{"content":"Following the exploit, STAX Finance took down its decentralized application (dApp) and replaced its homepage with a disclaimer warning users not to deposit into STAX contracts. TempleDAO emphasized that its core vault contracts shared no code with STAX, had been audited by PeckShield, and remained secure. The team stated that remediations would be made for all affected users, though specific details of the compensation structure were not publicly disclosed in major media sources. TempleDAO also increased its existing bug bounty with Hats Finance — committing 450,000 TEMPLE tokens to the bounty vault — and offered a white-hat bounty to the exploiter in exchange for fund return, which was not accepted. The protocol's core operations continued following remediation.","heading":"Team Response and User Compensation","sources":[{"url":"https://cointelegraph.com/news/templedao-exploit-results-in-2m-loss","name":"cointelegraph.com","type":"other","credibility":3},{"url":"https://cryptobriefing.com/templedao-stax-hacked-for-2-3-million/","name":"cryptobriefing.com","type":"other","credibility":3},{"url":"https://www.web3isgoinggreat.com/?id=stax-finance-exploited-for-2-3-million","name":"web3isgoinggreat.com","type":"other","credibility":3}],"severity":"medium"},{"content":"TempleDAO was introduced on Ethereum on August 9, 2021, by an anonymous team. The protocol aims to provide DeFi users with a low-volatility, fractionally backed, yield-bearing token (TEMPLE) anchored to a Treasury Price Index (TPI). The protocol operates as a community-driven DAO where token holders participate in governance. TempleDAO later incubated Origami Finance, an automated leverage protocol that secured $1.5 million in seed funding in August 2024 and deployed on both Ethereum and Berachain, reporting over $130 million in TVL at its peak. Despite these developments, TempleDAO itself shows effectively $0 in TVL on DeFi tracking platforms as of mid-2026, with minimal on-chain activity, while the TEMPLE token retains a market capitalization of approximately $70 million. The team remains pseudonymous, which is noted as a risk factor in third-party security reviews including DeFiSafety.","heading":"Protocol Overview and Anonymous Team","sources":[{"url":"https://docs.templedao.link/","name":"docs.templedao.link","type":"other","credibility":3},{"url":"https://defillama.com/protocol/temple-dao","name":"defillama.com","type":"other","credibility":3},{"url":"https://www.blockchain-council.org/dao/templedao/","name":"blockchain-council.org","type":"other","credibility":3},{"url":"https://www.binance.com/en/square/post/2024-08-27-origami-finance-secures-1-5-million-in-seed-funding-for-automated-leverage-protocol-12713591275417","name":"binance.com","type":"other","credibility":3}],"severity":"medium"},{"content":"TempleDAO core contracts were audited by PeckShield in June 2022. A second audit covered RAMOS (a liquidity management system) in December 2022. Third-party security firm yAudit (Electisec) conducted an audit of Origami Finance in January 2023 and a follow-up recheck in February 2023. DeFiSafety reviews note that TempleDAO's smart contract addresses are clearly labelled, the GitHub repository has substantial development history (908 commits, 24 branches), and the protocol maintains an active bug bounty of up to approximately $310,000 through Hats Finance. However, the October 2022 exploit demonstrated that the STAX Finance component — which was deployed after the initial audit — contained a critical access control failure that was not caught before production deployment. The CER.live security rating platform also tracks TEMPLE. No oracle is used by the protocol, which reduces one common attack surface.","heading":"Security Posture and Audits","sources":[{"url":"https://docs.templedao.link/technical-reference/audits","name":"docs.templedao.link","type":"other","credibility":3},{"url":"https://reports.yaudit.dev/reports/01-2023-TempleDAO-Origami/","name":"reports.yaudit.dev","type":"other","credibility":3},{"url":"https://reports.yaudit.dev/reports/02-2023-TempleDAO-Origami-Recheck/","name":"reports.yaudit.dev","type":"other","credibility":3},{"url":"https://www.defisafety.com/app/pqrs/494","name":"defisafety.com","type":"other","credibility":3},{"url":"https://cer.live/cryptocurrency-security-ratings/temple","name":"cer.live","type":"other","credibility":3}],"severity":"medium"},{"content":"No regulatory actions by the SEC, CFTC, DOJ, or other government agencies against TempleDAO or its team members have been identified in publicly available records as of May 2026. The use of Tornado Cash — an OFAC-sanctioned mixer — by the attacker to launder stolen proceeds adds a compliance dimension to any law enforcement investigation, though this is attributable to the attacker rather than the protocol. TempleDAO's coordination with Binance to track the attacker's funding source is the only publicly documented law enforcement-adjacent activity. The anonymous nature of the founding team means no individuals have been publicly associated with any regulatory proceeding.","heading":"Regulatory and Law Enforcement Considerations","sources":[{"url":"https://www.coindesk.com/tech/2022/10/17/templedao-exploiter-moves-ether-worth-over-25m-to-tornado-cash","name":"coindesk.com","type":"other","credibility":3}],"severity":"medium"},{"content":"As of May 2026, TempleDAO's core protocol shows approximately $0 in TVL according to DeFiLlama, suggesting the protocol has experienced severe user attrition. The TEMPLE token trades at approximately $2.94–$2.97 with a market capitalization near $70 million and a 24-hour trading volume of roughly $17,000–$27,000, indicating limited market activity. The protocol's associated product, Origami Finance, raised $1.5 million in seed funding in August 2024 and reported over $130 million in TVL across Ethereum and Berachain. The long-term viability of TempleDAO's core product is unclear given near-zero on-chain deposits, though the project remains nominally active through social media and affiliated projects.","heading":"Current Protocol Status","sources":[{"url":"https://defillama.com/protocol/temple-dao","name":"defillama.com","type":"other","credibility":3},{"url":"https://www.coingecko.com/en/coins/templedao","name":"coingecko.com","type":"other","credibility":3},{"url":"https://www.coinbase.com/price/templedao","name":"coinbase.com","type":"other","credibility":3}],"severity":"medium"}],"timeline":[{"date":"2021-08-09","event":"TempleDAO launched on Ethereum by an anonymous team, introducing the TEMPLE token with a Treasury Price Index mechanism.","source":""},{"date":"2022-06","event":"TempleDAO core contracts audited by PeckShield.","source":"","date_original":"2022-06-01"},{"date":"2022-10-11","event":"STAX Finance (a TempleDAO liquidity layer) exploited via missing access control on migrateStake() function; approximately $2.34 million (1,831 ETH) stolen. Exploit confirmed by PeckShield and BlockSec.","source":""},{"date":"2022-10-11","event":"TempleDAO takes down dApp, offers white-hat bounty to exploiter, announces coordination with Binance to investigate the attacker's funding wallet.","source":""},{"date":"2022-10-17","event":"Attacker moves approximately 1,921 ETH (over $2.5 million) through 21 transactions to Tornado Cash, effectively laundering all stolen funds.","source":""},{"date":"2022-12","event":"PeckShield audits TempleDAO RAMOS liquidity management system.","source":"","date_original":"2022-12-01"},{"date":"2023","event":"yAudit (Electisec) publishes audit of Origami Finance (TempleDAO incubated product).","source":"","date_original":"2023-01-01"},{"date":"2023-02","event":"yAudit publishes follow-up recheck of Origami Finance.","source":"","date_original":"2023-02-01"},{"date":"2024-08-26","event":"Origami Finance (associated with TempleDAO) closes $1.5 million seed funding round with investors including Ouroboros Capital, Fjord Foundry, and BeraLand.","source":""}],"sources_used":[{"url":"https://www.coindesk.com/business/2022/10/11/defi-protocol-temple-dao-struck-by-23m-exploit","name":"coindesk.com","type":"other","archive_url":"http://web.archive.org/web/20260607192821/https://www.coindesk.com/business/2022/10/11/defi-protocol-temple-dao-struck-by-23m-exploit","credibility":3,"archive_timestamp":"2026-06-07T19:28:21+00:00"},{"url":"https://rekt.news/templedao-rekt","name":"rekt.news","type":"other","archive_url":"http://web.archive.org/web/20260313101257/https://rekt.news/templedao-rekt","credibility":3,"archive_timestamp":"2026-03-13T10:12:57+00:00"},{"url":"https://www.theblock.co/post/176299/hacker-steals-2-3-million-from-templedao","name":"theblock.co","type":"other","archive_url":null,"credibility":3,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://blockworks.co/news/templedao-loses-2-million-in-latest-exploit","name":"blockworks.co","type":"other","archive_url":"http://web.archive.org/web/20251215200735/https://blockworks.co/news/templedao-loses-2-million-in-latest-exploit","credibility":3,"archive_timestamp":"2025-12-15T20:07:35+00:00"},{"url":"https://www.coindesk.com/tech/2022/10/17/templedao-exploiter-moves-ether-worth-over-25m-to-tornado-cash","name":"coindesk.com","type":"other","archive_url":null,"credibility":3,"archive_timestamp":null},{"url":"https://www.theblock.co/post/177504/templedao-hacker-moves-funds-via-sanctioned-crypto-mixer-tornado-cash","name":"theblock.co","type":"other","archive_url":null,"credibility":3,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://blockworks.co/news/templedao-hacked-funds-deposited-to-tornado-cash","name":"blockworks.co","type":"other","archive_url":"http://web.archive.org/web/20260218212718/https://blockworks.co/news/templedao-hacked-funds-deposited-to-tornado-cash","credibility":3,"archive_timestamp":"2026-02-18T21:27:18+00:00"},{"url":"https://cointelegraph.com/news/templedao-exploit-results-in-2m-loss","name":"cointelegraph.com","type":"other","archive_url":"https://web.archive.org/web/20260829234432/https://cointelegraph.com/news/templedao-exploit-results-in-2m-loss","credibility":3,"archive_timestamp":"2026-08-29T23:44:32+00:00"},{"url":"https://cryptobriefing.com/templedao-stax-hacked-for-2-3-million/","name":"cryptobriefing.com","type":"other","archive_url":"http://web.archive.org/web/20251111194239/https://cryptobriefing.com/templedao-stax-hacked-for-2-3-million/","credibility":3,"archive_timestamp":"2025-11-11T19:42:39+00:00"},{"url":"https://www.web3isgoinggreat.com/?id=stax-finance-exploited-for-2-3-million","name":"web3isgoinggreat.com","type":"other","archive_url":"http://web.archive.org/web/20260113205139/https://www.web3isgoinggreat.com/?id=stax-finance-exploited-for-2-3-million","credibility":3,"archive_timestamp":"2026-01-13T20:51:39+00:00"},{"url":"https://docs.templedao.link/","name":"docs.templedao.link","type":"other","archive_url":"http://web.archive.org/web/20260609081948/https://docs.templedao.link/","credibility":3,"archive_timestamp":"2026-06-09T08:19:48+00:00"},{"url":"https://defillama.com/protocol/temple-dao","name":"defillama.com","type":"other","archive_url":null,"credibility":3,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.blockchain-council.org/dao/templedao/","name":"blockchain-council.org","type":"other","archive_url":"http://web.archive.org/web/20260423021510/https://www.blockchain-council.org/dao/templedao/","credibility":3,"archive_timestamp":"2026-04-23T02:15:10+00:00"},{"url":"https://www.binance.com/en/square/post/2024-08-27-origami-finance-secures-1-5-million-in-seed-funding-for-automated-leverage-protocol-12713591275417","name":"binance.com","type":"other","archive_url":"https://web.archive.org/web/20260830003330/https://www.binance.com/en/square/post/2024-08-27-origami-finance-secures-1-5-million-in-seed-funding-for-automated-leverage-protocol-12713591275417","credibility":3,"archive_timestamp":"2026-08-30T00:33:30+00:00"},{"url":"https://docs.templedao.link/technical-reference/audits","name":"docs.templedao.link","type":"other","archive_url":"http://web.archive.org/web/20260517050235/https://docs.templedao.link/technical-reference/audits","credibility":3,"archive_timestamp":"2026-05-17T05:02:35+00:00"},{"url":"https://reports.yaudit.dev/reports/01-2023-TempleDAO-Origami/","name":"reports.yaudit.dev","type":"other","archive_url":null,"credibility":3,"archive_timestamp":null},{"url":"https://reports.yaudit.dev/reports/02-2023-TempleDAO-Origami-Recheck/","name":"reports.yaudit.dev","type":"other","archive_url":"https://web.archive.org/web/20260830002746/https://reports.yaudit.dev/02-2023-TempleDAO-Origami-Recheck","credibility":3,"archive_timestamp":"2026-08-30T00:27:46+00:00"},{"url":"https://www.defisafety.com/app/pqrs/494","name":"defisafety.com","type":"other",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