Concentric
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 45. Problems weighed by who is responsible: incidents the subject suffered −16, concerns that are not fraud −3.2, problems around the subject, caused by others −0.8. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -16 |
| Problems around it, caused by others | -0.8 |
| Sum | 45 |
Score: 45/100 (kept between 0 and 100)
How scoring works →Summary
Concentric (Concentric.fi) was an automated liquidity management protocol built on Camelot v3 on the Arbitrum network, offering vault-based yield optimization for concentrated liquidity positions. On January 22, 2024, the protocol suffered a critical security breach when a team member's deployer wallet was compromised through a targeted social engineering attack, resulting in approximately $1.85 million in losses and a 57% crash in the CONE token price. The protocol was subsequently halted entirely, and blockchain forensics firm CertiK linked the exploiter's wallets to prior incidents targeting OKX, UnoRe, and LunaFi, suggesting a sophisticated and recurring threat actor.
Connected Entities
4 entities · 60 linked investigations- OKX DEX→mentioned with→ZachXBT(70%)
- Concentric→mentioned with→ZachXBT(70%)
- Concentric→mentioned with→OKX DEX(85%)
- Concentric→mentioned with→Arbitrum(75%)
Connected Through
4 shared actors · 543 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □ZachXBTorganization
- □Arbitrumorganization
- △OKX DEXexchange
- □Concentricorganization
Timeline(7 events)
13 December 2023
OKX DEX exploit occurs, resulting in approximately $2.7 million in losses. Wallet later connected to the Concentric attacker is involved in this incident.
22 January 2024
Concentric Finance exploited via social engineering attack on a team member's deployer wallet. Attacker upgrades vault contracts, mints LP tokens via adminMint(), drains vaults of approximately 715 ETH. A second phase sweeps 65.4 ETH from user approvals. Total losses approximately 780 ETH (~$1.85 million).
22 January 2024
Cyvers detects suspicious activity. CertiK publishes Skynet alert identifying the exploiter wallet as linked to the OKX exploit. Initial loss estimates cited as approximately $1.6 million, later revised upward.
22 January 2024
Concentric team confirms breach via official channels, urges all users to revoke approvals on vault contracts, halts the protocol entirely.
22 January 2024
CONE token price drops approximately 57% following public announcement of the exploit.
22 January 2024
CertiK publishes full incident analysis linking the exploiter to OKX, UnoRe, and LunaFi incidents, indicating a pattern of coordinated attacks.
22 January 2024
Protocol announced as halted indefinitely, with 8 ETH and residual USDC remaining in the treasury.
Decision Log
- slot 455357297 · hash 3ybuVZ2KGZZzgUMJyJ3aveKrJiqntnYF9n7A71p69SDk
- slot 422554275 · hash 3WVdEFFcXS8jfkkrwH8PcMNB2kkFihWAmT5DFKhmw3tc
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 9 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:35 AM
last updated: 10/10/2026, 6:39:26 PM
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