Berachain
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anchored·5erqet…xUwMSummary
Berachain is an EVM-compatible Layer 1 blockchain that launched mainnet on February 6, 2025, using a novel Proof-of-Liquidity (PoL) consensus mechanism developed by the pseudonymous team at Big Bera Labs. The project raised $142 million across multiple funding rounds from prominent investors including Polychain Capital, Framework Ventures, and Brevan Howard Digital, but faced significant controversy at launch over airdrop fairness, a co-founder's token sales, a secret investor refund clause, and a major DeFi exploit in November 2025 that forced an emergency network halt and hard fork. As of mid-2026, Berachain is undergoing a substantial protocol redesign under the PoL Next upgrade, with TVL having declined sharply from its $3 billion peak.
Connected Entities
1 entities- + 13 more
Timeline(12 events)
December 2022
Polychain Capital leads a Series A investment round in Berachain (Big Bera Labs).
Tracxn / The BlockApril 2023
Berachain publicly discloses a $42 million funding round led by Polychain Capital.
The BlockApril 2024
Berachain raises $100 million in a Series B round co-led by Framework Ventures and Brevan Howard Digital (Nova fund), with participation from Polychain, Hack VC, Samsung Next, Laser Digital, and HashKey Capital.
The Block6 February 2025
Berachain mainnet launches. BERA token listed on Binance and other exchanges. Airdrop of approximately 79 million BERA distributed. Token reaches intra-day high of $14.99. TVL reaches $3.1 billion.
The Block / Decrypt7 February 2025
On-chain analysts identify transactions from a wallet attributed to co-founder DevBear swapping approximately 200,000 BERA from the airdrop for WBTC, ETH, and BYUSD, triggering insider-dumping allegations.
BeInCrypto / Crypto.news11 February 2025
BERA token declines approximately 63% from launch peak to approximately $5.57 as airdrop controversy and insider-trading allegations spread.
Crypto.newsFebruary 2025
Reports emerge (via Unchained Crypto) that Berachain granted Brevan Howard's Nova Digital fund a one-year refund option on its $25 million Series B investment, not publicly disclosed at the time of investment. Berachain co-founder Smokey the Bera disputes characterization.
Cointelegraph / Unchained Crypto3 November 2025
Berachain's BEX decentralized exchange is exploited via a Balancer V2 vault access control flaw. Approximately $12.8 million in user funds at risk. Validators coordinate emergency network halt. Emergency hard fork binary distributed.
CoinDesk / The Block4 November 2025
Berachain Foundation announces full recovery of approximately $12.8 million following coordination with a white-hat actor. Network resumes operations. BEX post-mortem published.
Crypto.news / Berachain FoundationMay 2026
Berachain Foundation announces BBB (Bera Builds Businesses) strategic pivot, shifting focus to incubating and acquiring revenue-generating applications.
Invezz / Altrady24 June 2026
Fusaka Mainnet Upgrade deployed, introducing execution and consensus changes and moving the chain away from vanilla Ethereum compatibility.
TradingView / CryptoDaily8 July 2026
PoL Next hard fork activated. BGT emissions officially retired. Network transitions to sWBERA staking model and Emissions Return Agreements (ERAs).
Invezz / GlobeNewswireDecision Log
- hash: BuXzEBXpTu6vQ44GsRGSqJeMZHxk7dcLm9JR9CoH5ifM
- hash: 6VDx5JJERGJtmYYZQkY64VVASAYA2sXRvJu1PUiXNmyH
- hash: HWeSy6h1Mj1jNtXw4rCJkrYiMxGCmwvbYjGdqc3KJrjb
This investigation is cryptographically anchored to the Solana blockchain (3 events). 18 of 24 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 7:31:44 AM
last updated: 8/6/2026, 5:48:41 AM
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