Convex Finance
Summary
Convex Finance is a decentralized finance yield-optimization protocol launched in May 2021 on Ethereum, designed to boost rewards for Curve Finance liquidity providers and CRV stakers by aggregating veCRV voting power. The protocol rapidly became one of the largest DeFi platforms by total value locked, peaking near $21 billion in January 2022, and accumulated controlling influence over Curve governance by holding approximately 47–50% of all veCRV supply at peak. The team has remained anonymous since launch, and the protocol experienced a critical multi-signature vulnerability in December 2021 — discovered and disclosed by OpenZeppelin — which was patched without any loss of user funds.
Connected Entities
1 entities · 10 linked investigations- + 2 more
Timeline(12 events)
2021-05-01
Convex Finance protocol goes live on Ethereum mainnet; records $68 million TVL in first month
IQ.wiki: Convex Finance2021-11-11
Mochi Finance executes governance attack using CVX voting power; Curve Emergency DAO kills Mochi gauge
CoinDesk2021-12-14
Critical $15 billion rug pull vulnerability discovered by OpenZeppelin and patched; publicly known signers added to multisig
OpenZeppelin2022-01-01
CVX token reaches all-time high of approximately $60.33; protocol TVL peaks near $21 billion
CoinDesk2022-03-04
Vote-locking bug disclosed by Popcorn; Convex forced to redeploy $12 billion smart contract and unlock all vlCVX
CoinDesk2022-06-23
Domain www.convexfinance.com hijacked via NameCheap social engineering attack; phishing site deployed; Convex sets up alternative URLs
CoinDesk2026-03-19
Azeem Ahmed (alleged Mochi Finance founder) sells 550,000 CVX on-chain; fraud allegations spanning four DeFi projects reported
Crypto.newsDecision Log
- hash: Cp18vk9k7cRMZj9rMVmsDKBnCDSRHS8qez9TEXUdBniF
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/31/2026, 7:32:09 AM
last updated: 5/31/2026, 7:32:13 AM
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