Audit log

Every state-changing event for Belt Finance: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-28 18:37:09Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 422,776,088

   sig

   4va9eB8Qu38Z…dUPeK4gkcopyexplorer ↗

   hash

   B2A9mFRwjCGg…3qMqAiwTcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (6839 B) ▸

   {"actor":"system:backfill","investigation_id":"ecbfa59c-37e4-4b2a-9561-4ce69c7eb561","kind":"publish","page_slug":"belt-finance","published_at":"2026-05-28T18:37:09.256Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Belt Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/markets/2021/05/30/belt-finance-victim-of-flash-loan-attack-in-latest-exploit-of-a-bsc-defi-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-belt-finance-hack-may-2021","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/72358/belt-finance-exploited-6-2-million-flash-loan-attack","type":"other","url":""},{"credibility":3,"name":"https://www.vidma.io/blog/the-belt-finance-exploit-a-6-3m-flash-loan-attack-on-bsc","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/belt-finance-loses-millions-in-latest-bsc-based-defi-exploit","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2021/06/02/belt-finance-to-compensate-users-following-623m-attack","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/belt-finance-unveils-defi-hack-compensation-plan/","type":"other","url":""},{"credibility":3,"name":"https://finance.yahoo.com/news/belt-finance-unveils-defi-hack-053317193.html","type":"other","url":""},{"credibility":3,"name":"https://crypto.news/belt-finance-compensate-users-6-3-million-attack/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://blockworks.co/news/80-million-lost-orbit-bridge","type":"other","url":""},{"credibility":3,"name":"https://unchainedcrypto.com/orbit-chain-announces-significant-clue-in81-million-new-years-eve-hack/","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/orbit-bridge-rekt","type":"other","url":""},{"credibility":3,"name":"https://bsc.news/post/belt-fi-project-insight-an-amm-incorporating-multi-strategy-yield-optimization","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.belt.fi/security-and-risks","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-belt-finance-hack-may-2021","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2023/11/22/justin-sun-confirms-htx-heco-chain-exploited-after-100m-in-suspicious-transfers","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/heco-chain-bridge-hack-86-million-lost","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/academy/article/52cb9dfd-1370-47cc-a30e-dc3a67bbcd9a","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/belt-finance","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/belt/","type":"other","url":""},{"credibility":3,"name":"https://belt.fi/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://isthiscoinascam.com/check/belt","type":"other","url":""}]}],"sources_used":[],"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.","timeline":[{"date":"2021-04-01","event":"Belt Finance launches on BSC as a multi-strategy yield aggregator and stableswap AMM built by Ozys.","source":"BSC News project insight","source_url":"https://bsc.news/post/belt-fi-project-insight-an-amm-incorporating-multi-strategy-yield-optimization"},{"date":"2021-05-29","event":"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.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2021/05/30/belt-finance-victim-of-flash-loan-attack-in-latest-exploit-of-a-bsc-defi-protocol"},{"date":"2021-05-30","event":"BELT token dumps approximately 54% in the immediate aftermath of the exploit becoming public.","source":"Decrypt","source_url":"https://decrypt.co/72358/belt-finance-exploited-6-2-million-flash-loan-attack"},{"date":"2021-06-02","event":"Belt Finance announces phased compensation plan including r4BELT airdrop for affected vault users and a $3 million BELT buyback fund.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2021/06/02/belt-finance-to-compensate-users-following-623m-attack"},{"date":"2021-06-03","event":"Halborn publishes post-mortem analysis of the Belt Finance hack, identifying the root cause as a faulty valuation assumption in the multi-strategy vault.","source":"Halborn","source_url":"https://www.halborn.com/blog/post/explained-the-belt-finance-hack-may-2021"},{"date":"2022-02-01","event":"KLAYswap, another Ozys-developed protocol, is exploited for approximately $2 million.","source":"Rekt News / Blockworks","source_url":"https://blockworks.co/news/80-million-lost-orbit-bridge"},{"date":"2023-11-22","event":"HECO Chain bridge exploited for approximately $87–115 million. Belt Finance suspends all HECO deposits. Withdrawals expected after V4 launch.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2023/11/22/justin-sun-confirms-htx-heco-chain-exploited-after-100m-in-suspicious-transfers"},{"date":"2023-12-31","event":"Orbit Bridge (Orbit Chain), also developed by Ozys, is exploited for approximately $81.5 million on New Year's Eve.","source":"Blockworks","source_url":"https://blockworks.co/news/80-million-lost-orbit-bridge"},{"date":"2024-01-04","event":"Belt Finance V4 launches (delayed two weeks from original December 2023 date), adding Ethereum, Polygon support and dropping HECO.","source":"Belt Finance official","source_url":"https://belt.fi/"},{"date":"2025-01-15","event":"HECO Network formally ceases operations, permanently ending Belt Finance's HECO deployment.","source":"CoinMarketCap","source_url":"https://coinmarketcap.com/academy/article/52cb9dfd-1370-47cc-a30e-dc3a67bbcd9a"}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-10 18:48:06Z
   Score: 28 → 56 (+28)
   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.
   anchoranchored

   chain

   ●mainnet-betaslot 455,368,056

   sig

   2bddKZgVwc6y…5PJa2qkkcopyexplorer ↗

   hash

   63FAdiC1dcLn…GXiaZf4ycopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (643 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:48:06.700Z","decision":"rescore","investigation_id":"ecbfa59c-37e4-4b2a-9561-4ce69c7eb561","new_score":56,"page_slug":"belt-finance","prev_score":28,"reason":"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.","score_delta":28,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3reviewby reviewerreviewer

   2026-11-02 09:41:53Z
   Score: 56 → 56 (no score change)
   The core exploit facts (date, $6.23M profit, eight runs, 50M BUSD combined cost, 21.36%/5.51% user losses, Halborn root-cause quote) are confirmed by CoinDesk and Decrypt. The 'total pool losses' framing overstates user loss, since most of the $50M was fees. The 54% BELT drop and the 67%/864 BELT-per-day figures are not in the cited sources. Halborn gives seven iterations rather than eight. The Ozys, KLAYswap and V4 launch claims could not be checked. The project appears still operating.
   anchoranchored

   chain

   ●mainnet-betaslot 464,448,855

   sig

   3KtKWsmgeLs1…so1anTk5copyexplorer ↗

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   AWVN4kB6FxUM…ug7Eb7y4copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1380 B) ▸

   {"actor":"reviewer","artifact_identity":"3e6cf60937f17e6a3ab001720670ebd7","blocked_count":2,"decided_at":"2026-11-02T09:41:53.281Z","decision":"review","disputed_pct":0.3333,"findings_hash":"47o7U5fvM1o3HuYn2zwZqQ9S1DY9w6tyiCwAABi8U3XK","investigation_id":"ecbfa59c-37e4-4b2a-9561-4ce69c7eb561","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":56,"omissions":{"material":0,"total":1},"page_content_hash":"31cc547bf24e4e4ff080b0c1013f7573346cbc6769f0bfb4e92baaab6aa8e629","page_slug":"belt-finance","prev_score":56,"reason":"The core exploit facts (date, $6.23M profit, eight runs, 50M BUSD combined cost, 21.36%/5.51% user losses, Halborn root-cause quote) are confirmed by CoinDesk and Decrypt. The 'total pool losses' framing overstates user loss, since most of the $50M was fees. The 54% BELT drop and the 67%/864 BELT-per-day figures are not in the cited sources. Halborn gives seven iterations rather than eight. The Ozys, KLAYswap and V4 launch claims could not be checked. The project appears still operating.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":9,"sequence_num":3,"subject_status":"operating","subject_status_contradicts_page":false,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4review reviseby judgejudge

   2026-11-02 09:41:53Z
   Score: 56 → 56 (no score change)
   The core exploit facts (May 29, 2021 date, $6.23M profit, eight runs, user loss percentages, Halborn root-cause quote) are confirmed by CoinDesk and Decrypt, and no claim was directly contradicted. However, 3 of the 9 checkable claims could not be verified against their cited sources: the 67% / 864 BELT per day compensation figure (claim_findings[4]), the 54% BELT price drop attributed to Decrypt (claim_findings[5]), and the V4 launch on January 4, 2024 (claim_findings[8]). That puts the unverified share at about 33%, in the significant-issues band. The penalty is kept at the low end of the band because the reviewer's confidence was moderate (0.55), two further claims were unreadable because sources blocked the reviewer, and the project appears still operating with no unmentioned shutdown or sanction. The page also frames roughly $43.8M of attacker fees as 'pool losses' (claim_findings[1]) and carries an unsourced ZachXBT flag.
   anchoranchored

   chain

   ●mainnet-betaslot 464,448,861

   sig

   5URtJgHvj8Bj…LM2WavVhcopyexplorer ↗

   hash

   AQUgRAD97BxZ…b6FokmFucopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1623 B) ▸

   {"actor":"judge","artifact_identity":"3e6cf60937f17e6a3ab001720670ebd7","band_override":null,"blocked_count":2,"decided_at":"2026-11-02T09:41:53.281Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.3333,"investigation_id":"ecbfa59c-37e4-4b2a-9561-4ce69c7eb561","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":56,"page_slug":"belt-finance","prev_score":56,"reason":"The core exploit facts (May 29, 2021 date, $6.23M profit, eight runs, user loss percentages, Halborn root-cause quote) are confirmed by CoinDesk and Decrypt, and no claim was directly contradicted. However, 3 of the 9 checkable claims could not be verified against their cited sources: the 67% / 864 BELT per day compensation figure (claim_findings[4]), the 54% BELT price drop attributed to Decrypt (claim_findings[5]), and the V4 launch on January 4, 2024 (claim_findings[8]). That puts the unverified share at about 33%, in the significant-issues band. The penalty is kept at the low end of the band because the reviewer's confidence was moderate (0.55), two further claims were unreadable because sources blocked the reviewer, and the project appears still operating with no unmentioned shutdown or sanction. The page also frames roughly $43.8M of attacker fees as 'pool losses' (claim_findings[1]) and carries an unsourced ZachXBT flag.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":9,"sequence_num":4,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5rescoreby systemsystem

   2026-11-02 09:41:54Z
   Score: 56 → 57 (+1)
   Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 56 → 57. 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 −1.6; legitimacy credit long-running +6; 1 section(s) set aside until a failed fact-check is resolved.
   anchoranchored

   chain

   ●mainnet-betaslot 464,448,867

   sig

   593Vqvm9y4UR…qhTTfisccopyexplorer ↗

   hash

   Hk538miWUR61…MXzMaMTLcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (753 B) ▸

   {"actor":"system","decided_at":"2026-11-02T09:41:53.281Z","decision":"rescore","investigation_id":"ecbfa59c-37e4-4b2a-9561-4ce69c7eb561","new_score":57,"page_slug":"belt-finance","prev_score":56,"reason":"Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 56 → 57. 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 −1.6; legitimacy credit long-running +6; 1 section(s) set aside until a failed fact-check is resolved.","score_delta":1,"score_model":"v2","sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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