CheeseBank
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 50. Problems weighed by who is responsible: incidents the subject suffered −9.6, concerns that are not fraud −6.4, problems around the subject, caused by others −0.8; legitimacy credit long-running +10; no longer operating, so capped at 50. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -9.6 |
| Problems around it, caused by others | -0.8 |
| Long-running | +10 |
| Sum | 58 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Summary
Cheese Bank was an Ethereum-based DeFi lending protocol that launched in September 2020 and suffered a $3.3 million exploit on November 6, 2020, caused by a flash loan attack combined with price oracle manipulation on Uniswap. The anonymous team claimed to have patched the vulnerability, but the protocol never recovered meaningful activity, the CHEESE token collapsed in value, and the project is widely considered abandoned. ZachXBT has flagged the entity as a high-risk project.
Connected Entities
4 entities · 60 linked investigations- CheeseBank→mentioned with→Ethereum(80%)
- CheeseBank→mentioned with→Uniswap(80%)
- CheeseBank→mentioned with→ZachXBT(65%)
- Uniswap→mentioned with→Ethereum(80%)
- ZachXBT→mentioned with→Ethereum(70%)
Timeline(9 events)
27 September 2020
CHEESE ERC-20 token contract (0xA04bDB1f11413a84D1F6C1d4d4FeD0208F2e68bF) verified and deployed on Ethereum mainnet.
30 September 2020
Cheese Bank yield farming officially launched.
15 October 2020
Cheese Bank Lending Protocol 2.0 officially launched.
19 October 2020
Cheese Bank announced the launch of a new UNI_V2-ETH-USDC liquidity pool.
6 November 2020
Flash loan oracle manipulation exploit executed at 19:22 UTC, draining approximately $3.3 million in USDC, USDT, and DAI from Cheese Bank lending pools. Attacker consolidated funds to 0x02b7165d0916e373f0235056a7e6fccdb82d2255.
16 November 2020
PeckShield published a root cause analysis of the Cheese Bank incident, identifying the AMM-based oracle pricing formula as the root vulnerability.
17 November 2020
Cheese Bank team published a statement on Medium acknowledging the incident and claiming the vulnerability had been patched. No compensation plan for affected users was announced.
5 November 2022
CHEESE token reached its recorded all-time high of $0.0001, indicating near-total value destruction since the 2020 exploit.
May 2026
Project documentation domain (docs.cheesebank.io) inaccessible; CHEESE token unlisted on major exchanges; protocol considered abandoned by market participants.
Decision Log
- slot 455361447 · hash ATP3UfT4pJphZRSN2dT8n9ozyEH1BK5231zndrA1Zacc
- slot 422779212 · hash H2TzSme9fysPJGyTQvwxLR6W7LVJE8mXegwDGMTmt7Pe
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 12 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:55:00 AM
last updated: 10/10/2026, 6:42:06 PM
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