Conic Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 22 → 50. 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; legitimacy credit long-running +4; no longer operating, so capped at 50. 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 |
| Long-running | +4 |
| Sum | 49 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Summary
Conic Finance was a DeFi liquidity-diversification protocol built on Curve Finance that allowed users to deposit assets into Omnipools across multiple Curve pools. On July 21, 2023, the protocol suffered two separate exploits totaling approximately $4.2 million — a $3.26 million read-only reentrancy attack on its ETH Omnipool and a subsequent $300,000 sandwich attack on its crvUSD Omnipool — after which TVL never recovered. In March 2025, the team formally shut down the protocol, citing an inability to fix critical security issues in a planned v2 upgrade.
Connected Entities
2 entities · 35 linked investigations- Conic Finance→mentioned with→Curve Finance(80%)
Connected Through
1 shared actor · 35 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ⌂Curve Financeprotocol
Timeline(8 events)
8 March 2023
Conic Finance launches; attracts over $60 million TVL within days offering Curve Omnipool diversification with up to 21% APY on USDC
CoinDesk4 July 2023
First minor exploit of $1,600 via pool manipulation — an early signal of pool imbalance vulnerabilities
CertiK Incident Analysis21 July 2023
ETH Omnipool drained of 1,724 ETH (~$3.26 million) via read-only reentrancy exploit exploiting a WETH/ETH address mismatch in CurveLPOracleV2
Conic Finance Post-Mortem / CoinDesk21 July 2023
crvUSD Omnipool exploited for ~$934,000 (~$300k attacker profit) via sandwich attack hours after the ETH exploit; 9 ETH routed to Tornado Cash
Conic Finance Post-Mortem / CertiK21 July 2023
Conic pauses all Omnipools and disables deposits; publishes incident acknowledgment; MEV bot voluntarily returns ~81 ETH
Conic Finance Medium / Rekt News22 July 2023
Conic Finance publishes full post-mortem detailing root cause of both exploits and committing to v2 development with fresh audits
Conic Finance Medium12 December 2023
CNC token surges 50% as Conic announces comeback plans and v2 development progress; TVL shows partial recovery
CoinDesk7 March 2025
Conic Finance announces permanent shutdown; team cites inability to fix critical security issues in v2 despite audits by ChainSecurity and MixBytes; CNC token falls over 80% on the announcement
Conic Finance Medium / DL NewsDecision Log
- slot 455362015 · hash Ed6eia3QQMcwt2yYUZCKtRrgyxXXJa1bKQnkJtfcog5j
- slot 422748333 · hash BQ7vBuBUpDW7psxM7rVHyu1ub1UJwYd4TUDsKcutBVEF
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 14 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:40 AM
last updated: 10/10/2026, 6:42:28 PM
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