Belt Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 56. Problems weighed by who is responsible: concerns that are not fraud −9.6, incidents the subject suffered −3.2, problems around the subject, caused by others −2.4; legitimacy credit long-running +6. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -9.6 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -2.4 |
| Long-running | +6 |
| Sum | 56 |
Score: 56/100 (kept between 0 and 100)
How scoring works →Summary
Belt Finance (belt.fi) is a multi-strategy yield aggregator and stableswap AMM built primarily on Binance Smart Chain (BSC), developed by South Korean blockchain firm Ozys. On May 29, 2021, the protocol was exploited via a flash loan attack that netted the attacker approximately $6.23 million in BUSD and caused an estimated $50 million in total pool losses. The protocol announced a phased compensation plan for affected users but full repayment status remains unverified; the protocol has continued operating in diminished form, with current TVL of approximately $12 million as of 2025.
Connected Entities
11 entities · 60 linked investigations- Belt Finance→mentioned with→Ethereum(65%)
- Belt Finance→mentioned with→Binance(65%)
- Harvest Finance→mentioned with→Binance(70%)
- Belt Finance→mentioned with→Polygon(75%)
- Belt Finance→mentioned with→HTX(60%)
- Belt Finance→mentioned with→ZachXBT(70%)
- Belt Finance→mentioned with→Heco Bridge(60%)
- Harvest Finance→mentioned with→Ethereum(65%)
- Harvest Finance→mentioned with→Polygon(60%)
- Pickle Finance→mentioned with→Ethereum(70%)
- + 18 more
Timeline(10 events)
April 2021
Belt Finance launches on BSC as a multi-strategy yield aggregator and stableswap AMM built by Ozys.
BSC News project insight29 May 2021
Flash loan exploit executes against the beltBUSD vault eight times, netting the attacker approximately $6.23 million BUSD. Total pool losses estimated at $50 million. Belt Finance pauses deposits and withdrawals.
CoinDesk30 May 2021
BELT token dumps approximately 54% in the immediate aftermath of the exploit becoming public.
Decrypt2 June 2021
Belt Finance announces phased compensation plan including r4BELT airdrop for affected vault users and a $3 million BELT buyback fund.
CoinDesk3 June 2021
Halborn publishes post-mortem analysis of the Belt Finance hack, identifying the root cause as a faulty valuation assumption in the multi-strategy vault.
HalbornFebruary 2022
KLAYswap, another Ozys-developed protocol, is exploited for approximately $2 million.
Rekt News / Blockworks22 November 2023
HECO Chain bridge exploited for approximately $87–115 million. Belt Finance suspends all HECO deposits. Withdrawals expected after V4 launch.
CoinDesk31 December 2023
Orbit Bridge (Orbit Chain), also developed by Ozys, is exploited for approximately $81.5 million on New Year's Eve.
Blockworks4 January 2024
Belt Finance V4 launches (delayed two weeks from original December 2023 date), adding Ethereum, Polygon support and dropping HECO.
Belt Finance official15 January 2025
HECO Network formally ceases operations, permanently ending Belt Finance's HECO deployment.
CoinMarketCapDecision Log
- slot 455368056 · hash 63FAdiC1dcLnHoW6zwov4NoN1MG4gPf2j1dbGXiaZf4y
- slot 422776088 · hash B2A9mFRwjCGg99izK9GdtBqNeoZuPbxC1A5G3qMqAiwT
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 18 of 21 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:56 AM
last updated: 10/10/2026, 6:48:06 PM
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