Convergence
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·2XrSKH…tQQxSummary
Convergence (CVG) is an Ethereum-based DeFi yield-aggregation protocol built on top of Curve and Convex Finance. On August 1, 2024, an attacker exploited a missing input-validation check in the CvxRewardDistributor contract — introduced by a post-audit gas-optimization change — to mint 58 million CVG tokens and sell them for approximately $212,000, collapsing the token price by 99%. The protocol never recovered; following a community DAO vote, the team pivoted operations to a successor project called Tangent Finance (TGN).
Connected Entities
5 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- Convex Finance→mentioned with→Ethereum(80%)
- Curve Finance→mentioned with→Ethereum(80%)
- Convergence→mentioned with→Ethereum(70%)
- Convergence→mentioned with→ZachXBT(70%)
- Convergence→mentioned with→Convex Finance(80%)
- Convex Finance→mentioned with→Curve Finance(80%)
- Convergence→mentioned with→Curve Finance(80%)
Timeline(9 events)
2023
Convergence Finance (CVG) protocol launches on Ethereum, operating as a Curve/Convex yield-aggregation layer.
2024
Protocol completes four separate smart contract audits (Halborn, Sherlock Contest #126, Hats Finance x2) prior to the exploit.
August 2024
Attacker (0x03560a9d7a2c391fb1a087c33650037ae30de3aa) exploits missing input validation in CvxRewardDistributor, minting 58 million CVG tokens and selling them for approximately $212,000. CVG price collapses 99% on Curve liquidity pools.
August 2024
Convergence team issues urgent public warning to cease all protocol interaction. Stolen ETH (~65.8 ETH) routed through Tornado Cash.
2 August 2024
Official post-mortem published by Wireshark (Convergence alias), accepting full responsibility for the post-audit code change.
6 August 2024
Convergence transmits on-chain message to attacker, characterizing the exploit as possible white-hat activity and requesting return of 65.8 ETH within 48 hours. No confirmed response from attacker.
7 August 2024
Convergence Finance negotiation message to hacker publicly reported. No fund recovery confirmed.
September 2024
Community DAO vote opened on protocol future: Redemption (partial refund) vs. Tangent (successor project). Over 97% of participating votes favor the Tangent transition.
October 2024
Convergence team announces pivot to Tangent Finance (TAN), a new DeFi lending protocol. CVG token deprecated. No cash compensation issued to CVG holders under the Tangent path.
Decision Log
- hash: 9W73ZCfCnFggWTdUzmJQGAgoUUnJGtGadKpCwYA84T7E
This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:30 AM
last updated: 8/30/2026, 1:16:25 AM
5 viewsavoid.net — verified advice for a post-truth world