Bondly
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 22 → 48. Problems weighed by who is responsible: the subject's own conduct −16, concerns that are not fraud −6.4, problems around the subject, caused by others −2.4; legitimacy credit long-running +8. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -16 |
| Concerns that are not fraud | -6.4 |
| Problems around it, caused by others | -2.4 |
| Long-running | +8 |
| Sum | 48 |
Score: 48/100 (kept between 0 and 100)
How scoring works →Summary
Bondly Finance is a DeFi and NFT protocol launched in September 2020 that suffered a major exploit on July 14-15, 2021, in which 373 million BONDLY tokens were minted via owner-level credentials and sold into liquidity pools, causing an 82% token price collapse and approximately $5.9-7.5 million in losses. The exploit originated from the protocol owner's address, prompting blockchain security firm PeckShield to allege a potential rug pull, though the team attributed it to compromised credentials belonging to CEO Brandon Smith. Following acquisition by Animoca Brands in September 2021 and a rebrand to Forj in May 2022, the project has undergone significant leadership changes; the original founder departed under a cloud of unresolved questions about the exploit's true origin.
Connected Entities
6 entities · 60 linked investigations- MANTRA (OM Token)→mentioned with→Binance(70%)
- Binance→mentioned with→Ethereum(65%)
- Polkadot→mentioned with→Ethereum(65%)
- Bondly→mentioned with→Polygon(60%)
- Bondly→mentioned with→Polkadot(75%)
- Bondly→mentioned with→Binance(60%)
- Bondly→mentioned with→Ethereum(65%)
- Polygon→mentioned with→Ethereum(70%)
- Polygon→mentioned with→Binance(70%)
- Bondly→mentioned with→MANTRA (OM Token)(60%)
Timeline(12 events)
September 2020
Bondly Finance launched by founder Brandon Smith on Polkadot blockchain
24 February 2021
Logan Paul NFT drop via Bondly generates approximately $3.5 million in sales in 24 hours
14 July 2021
Attacker pre-funds exploit transactions via Tornado.Cash; 373 million BONDLY tokens transferred from Staking Rewards contract starting at 12:16 AM UTC July 15
15 July 2021
BONDLY token price collapses 82% within hours; Bondly team advises users to stop trading; PeckShield alleges potential rug pull based on owner-address origin of minted tokens
16 July 2021
CEO Brandon Smith voluntarily takes leave of absence; co-founder Harry Liu assumes CEO role
19 July 2021
Bondly publishes initial postmortem attributing attack to compromised CEO password account containing hardware wallet recovery phrase
29 August 2021
Replacement BONDLY token claim portal opens for affected holders
17 September 2021
Animoca Brands announces binding agreement to acquire majority stake in Bondly; Harry Liu confirmed as CEO
24 November 2021
BONDLY token reaches all-time high of approximately $0.202
May 2022
Bondly Finance announces strategic rebrand to Forj under Animoca Brands ownership
31 December 2022
BONDLY/Forj token ends year at approximately $0.0052, down roughly 95% from all-time high
2025
Forj (BONDLY) token price approximately $0.00048, representing a loss of over 99% from all-time high
Decision Log
- slot 455362377 · hash DuRVwwq3bM5F32kUuCCPJTPooSkm8h4hVU9tnZw6T7VQ
- slot 422554242 · hash EEWP4UsiSrogyQP9cABcG64NWTBnXha2Qqazx2gamvSB
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 10 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:55 AM
last updated: 10/10/2026, 6:42:39 PM
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