Atlantis Loans
Last changed 2026-11-03 · Fact-check review — Fact-check review (verdict: approve): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -1.6 |
| Long-running | +10 |
| Sum | 61 |
- No longer operating, so capped at 50.
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 50/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-03 · 4 of 7 claims confirmed · 3 need better sources
anchored·5vZPU3…FHB9Summary
Atlantis Loans was a decentralized lending and borrowing protocol built on BNB Chain (BSC) that was abandoned by its development team in April 2023 due to financial distress. Despite the abandonment, active smart contracts and unrevoked user approvals remained on-chain, which an attacker exploited in June 2023 through a malicious governance proposal, ultimately draining an estimated $2.5 million from users. The protocol is now defunct, its website is down, and its TVL has collapsed to near zero.
Connected Entities
4 entities · 60 linked investigations- Polygon→mentioned with→Ethereum(70%)
- Polygon→mentioned with→Binance(70%)
- Binance→mentioned with→Ethereum(65%)
- Atlantis Loans→mentioned with→Polygon(60%)
- Atlantis Loans→mentioned with→Ethereum(60%)
- Atlantis Loans→mentioned with→Binance(60%)
Timeline(10 events)
2021
Atlantis Loans launches as a decentralized lending protocol on BNB Smart Chain, modeled after Compound Finance.
April 2023
Development team publishes abandonment announcement on Medium, citing 6-8 months of financial difficulty. Protocol smart contracts remain live and governance remains active.
12 April 2023
First malicious governance proposal (Proposal ID 49) submitted by attacker. Proposal fails to reach quorum due to insufficient votes.
7 June 2023
Attacker submits second malicious governance proposal (Proposal ID 52) via GovernorBravo contract, targeting admin roles of all ABep20Delegator token contracts.
10 June 2023
Governance proposal executes after 48-hour timelock. Attacker takes admin control of proxy contracts, inserts backdoored implementation, and begins draining token approvals from user wallets. Initial losses estimated at approximately $1.1 million.
11 June 2023
Exploit discovered and reported publicly. BeosinAlert and PeckShieldAlert issue warnings. Revoke.cash deploys dedicated exploit checker for affected users.
12 June 2023
Attacker continues draining unrevoked approvals. PeckShield reports total losses exceeding $2.5 million. Web3 Is Going Great documents the incident.
13 June 2023
Rekt.news publishes post-mortem. Multiple security firms including Halborn, Neptune Mutual, Nefture Security, and SolidityScan publish detailed analyses.
July 2023
Team's deadline for burning 450,000 ATL tokens passes. Protocol website subsequently goes offline.
May 2026
Protocol TVL stands at approximately $2,902. DeFiLlama marks the protocol as having rug pulled user funds with website down. No recovery or remediation has been undertaken.
Decision Log
- slot 465091574 · hash JDzab68UdQLy2sKg5RCVUeqHHPX7iSeAZ21k2jD7SnVj
- slot 465091568 · hash BSdSvpnX1v4PdRWYgt3GKGdywRREBEe1hMgvamYj4uCw
- slot 455359566 · hash 9MgU28DgNk4kMmNTeo16keqfRY1Sqo8zrPySXdsDfmtn
- slot 423080268 · hash 8ctBG6NVxa5WSjcrcqX9NyNRAQPEmz9AXoctHLRZ2TFU
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 8 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:41 AM
last updated: 11/3/2026, 11:57:05 PM
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