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Arcadia V2

avoid.net/arcadia-v2→28/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·AN8wh5…AJfR

Summary

Arcadia V2 is a non-custodial leverage farming and liquidity management protocol operating primarily on Base, developed by Belgium-based Arcadia Finance (founded 2021, backed by Coinbase Ventures). The protocol has suffered two serious security exploits: a July 2023 reentrancy attack on its V1 codebase draining approximately $455K across Ethereum and Optimism, and a more severe July 2025 arbitrary calldata exploit on V2's Rebalancer contract that drained approximately $3.6M on Base despite multiple prior audits. ZachXBT has flagged the protocol as a high-risk entity given this pattern of repeated critical security failures.

Connected Entities

1 entities
Organizations
□Arcadia V2
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    Timeline(15 events)

    2021-01-01

    Arcadia Finance founded in Mechelen, Belgium by Jasper Van Pee and Thomas Smets.

    2023-07-10

    V1 protocol exploited on Ethereum and Optimism via reentrancy attack on liquidateVault() function; approximately $459,030 stolen. PeckShield identifies the attack. Optimism attacker launders ~180 ETH via Tornado Cash.

    2023-07-10

    Arcadia Finance pauses all contracts, issues on-chain message to attacker demanding return of funds within 24 hours. No funds recovered. TVL drops 76%.

    2023-10-01

    Arcadia partners with Trust Security for first V2 security review.

    2024-01-01

    Arcadia V2 audit program begins: Renascence, Pashov Audit Group, and Sherlock contest all review complete V2 codebase in Q1 2024. Pashov internally flags but does not report a vulnerability in SwapLogic._swapViaRouter().

    2024-01-01

    Arcadia V2 targets Q1 2024 launch on Base (announced as goal, not confirmed release date).

    2024-04-01

    Sherlock audit contest covers Aerodrome Asset Modules for Arcadia V2 (Q2 2024).

    2025-03-12

    Arcadia Finance announces public token sale for $AAA on Fjord launchpad.

    2025-04-10

    AAA Token Generation Event (TGE) completed. AAA reaches all-time high of $1.71 on day of TGE.

    2025-06-01

    Arcadia Finance joins the Circle Alliance.

    2025-07-14

    Attacker funds wallet via Tornado Cash on Ethereum at 10:58 PM UTC; bridges funds to Base approximately 30 minutes later.

    2025-07-15

    Arcadia V2 Rebalancer contract exploited on Base at 4:03 AM UTC via arbitrary swapData calldata injection. Approximately $3.6M (USDC, USDS, Aerodrome, Slipstream LP NFTs) drained across multiple transactions. CertiK and Cyvers raise initial on-chain alarms.

    2025-07-15

    Arcadia Finance pauses all contracts, advises users to revoke approvals and disable automations. Offers attacker 10% bounty (~$360K) for 90% fund return within 24 hours. Attacker does not respond.

    2025-07-15

    AAA token drops approximately 46% in trading following the hack disclosure.

    2025-07-15

    Stolen funds (approximately 1,203 ETH) bridged from Base to Ethereum via Across Protocol and Relay.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:22 AM

    last updated: 5/26/2026, 7:54:34 PM

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