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Convergence

avoid.net/convergence→18/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·2XrSKH…tQQx

Summary

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

1 entities
Organizations
□Convergence
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    Timeline(9 events)

    2023-01-01

    Convergence Finance (CVG) protocol launches on Ethereum, operating as a Curve/Convex yield-aggregation layer.

    2024-01-01

    Protocol completes four separate smart contract audits (Halborn, Sherlock Contest #126, Hats Finance x2) prior to the exploit.

    2024-08-01

    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.

    2024-08-01

    Convergence team issues urgent public warning to cease all protocol interaction. Stolen ETH (~65.8 ETH) routed through Tornado Cash.

    2024-08-02

    Official post-mortem published by Wireshark (Convergence alias), accepting full responsibility for the post-audit code change.

    2024-08-06

    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.

    2024-08-07

    Convergence Finance negotiation message to hacker publicly reported. No fund recovery confirmed.

    2024-09-01

    Community DAO vote opened on protocol future: Redemption (partial refund) vs. Tangent (successor project). Over 97% of participating votes favor the Tangent transition.

    2024-10-01

    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.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:30 AM

    last updated: 5/29/2026, 4:47:28 PM

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