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Conic Finance

avoid.net/conic-finance→22/100·88% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·uDqtAx…pDsr

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

1 entities
Protocols
⌂Conic Finance
Relationships
    Have evidence about Conic Finance?

    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

    CoinDesk

    4 July 2023

    First minor exploit of $1,600 via pool manipulation — an early signal of pool imbalance vulnerabilities

    CertiK Incident Analysis

    21 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 / CoinDesk

    21 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 / CertiK

    21 July 2023

    Conic pauses all Omnipools and disables deposits; publishes incident acknowledgment; MEV bot voluntarily returns ~81 ETH

    Conic Finance Medium / Rekt News

    22 July 2023

    Conic Finance publishes full post-mortem detailing root cause of both exploits and committing to v2 development with fresh audits

    Conic Finance Medium

    12 December 2023

    CNC token surges 50% as Conic announces comeback plans and v2 development progress; TVL shows partial recovery

    CoinDesk

    7 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 News
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain14 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 16 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:40 AM

    last updated: 8/29/2026, 1:33:59 AM

    5 views

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