Chainflip
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anchored·5zBXFM…RkAbSummary
Chainflip is a decentralized cross-chain swap protocol that uses a validator network, threshold signature schemes, and a Substrate-based State Chain to facilitate native asset swaps across blockchains without wrapped tokens or bridges. On September 12, 2026, an attacker exploited a flaw in Chainflip's TRON USDT memo-handling logic, triggering duplicate payouts across six transactions totaling 736,442.17 USDT over approximately 90 minutes. Chainflip halted the entire network, patched the vulnerability, and committed to making affected liquidity providers whole, though the specific reimbursement mechanism and a complete technical post-mortem remained pending as of the time of reporting.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(5 events)
1 January 2020
Chainflip Labs founded as a spin-out from the Oxen project by Simon Harman and Chris McCabe.
Bybit Learn — What is Chainflip (FLIP)?12 September 2026
Attacker begins exploiting TRON USDT memo-handling vulnerability between approximately 01:44 and 03:10 UTC. Eight attempts are made; six succeed, draining 736,442.17 USDT across approximately 90 minutes. One pending swap of 115,654.41 USDT remains stuck in the vault.
crypto.news — Chainflip loses 736,442 USDT in TRON exploit12 September 2026
Chainflip detects the exploit and pauses all network-wide swap and quoting operations. The team notifies unspecified 'relevant parties' about the stolen funds.
CryptoTimes — Chainflip Halts Network After $736K Tron USDT Exploit13 September 2026
Chainflip publishes incident disclosure. Confirms exploit was limited to TRON USDT route, all other funds secure, and commits to making affected users whole. Announces plan to reset TRON USDT provider balances to zero while recording owed amounts separately on-chain.
CryptoSlate — Chainflip to reset TRON USDT provider balances to zero16 September 2026
Chainflip reports that swap and quoting operations have resumed across the network, with TRON excluded pending full recovery. TRON USDT provider balance migration and reimbursement process remain ongoing.
CryptoSlate — Chainflip to reset TRON USDT provider balances to zeroDecision Log
- hash: 9xojnRhJw5UQRft6Xa99ELjFWxmpeVXsAnYaMuPSDDLS
This investigation is cryptographically anchored to the Solana blockchain (1 event). 10 of 10 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/17/2026, 12:16:17 PM
last updated: 9/17/2026, 1:22:23 PM
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