Audit log

Every state-changing event for DeFi100: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-31 18:13:22Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 423,426,486

   sig

   3fxL6hkbv4Gp…KBMBmBKJcopyexplorer ↗

   hash

   FnMcpdF5oQsN…kCDyLCjncopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (20651 B) ▸

   {"actor":"system:backfill","investigation_id":"0adebe31-c7b6-4293-a17f-c3de77403150","kind":"publish","page_slug":"defi100","published_at":"2026-05-31T18:13:22.634Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"DeFi100","sections":[{"content":"DeFi100 described itself as the first synthetic asset on Binance Smart Chain pegged to the total DeFi market capitalization. The protocol used an elastic supply mechanism — commonly called a 'rebase' — to adjust the circulating token supply daily, with price data sourced from the Decentralised Information Asset (DIA) oracle network. The D100 token was designed so that one unit represented 1/100-billionth of the total DeFi market cap. The project was developed by an anonymous team operating as 'Wrapp3d,' a group claiming to specialize in synthetic assets. DeFi100 conducted its initial token offering (IJO) on the Jetfuel Finance launchpad on February 24, 2021. At launch, the circulating supply was 2.5 million D100 tokens, with liquidity locked for eleven months from February 2021. Team allocation was 5% of total supply.","heading":"Project Overview","severity":"medium","sources":[{"credibility":2,"name":"DEFI100 Documentation — DEFI100-Rebase","type":"official","url":"https://docs.defi100.org/"},{"credibility":3,"name":"Jetfuel Launchpad IJO with DEFI100 — Jetfuelfinance Medium","type":"news_article","url":"https://jetfuelfinance.medium.com/jetfuel-launchpad-ijo-with-defi100-b6b55fcf40ff"},{"credibility":3,"name":"DEFI100 — Rebase: An Index Fund on the BSC DeFi Ecosystem","type":"research","url":"https://frontierprotocols.com/defi100-rebase-an-index-fund-on-the-bsc-defi-ecosystem/"}]},{"content":"On May 22, 2021, the DeFi100 website (defi100.org) displayed a message reading: 'WE SCAMMED YOU GUYS AND YOU CANT DO SHIT ABOUT IT HAHA… All you moon bois have been scammed and you cant do shit about it. FUCK YOU MOONBOIS,' signed by an entity calling itself 'DEVISIN.' Screenshots were circulated widely on social media and by crypto journalists before the message was taken down. CoinDesk captured and published a screenshot before deletion. Late on May 23, the official DeFi100 Twitter account claimed the message had been posted by a hacker who breached the website, stating: 'The website was hacked yesterday and the message was shown by the hackers.' The team provided no independent forensic evidence of the alleged website compromise, and no third-party security firm publicly confirmed or denied the hack claim. Whether the message represented a genuine exit announcement or a third-party defacement remains unresolved, as no on-chain evidence conclusively established that project funds were moved by insiders at the time.","heading":"The May 2021 Website Incident and Exit Scam Allegations","severity":"critical","sources":[{"credibility":1,"name":"People Behind Crypto Protocol DeFi100 May Have Absconded With $32M — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2021/05/22/people-behind-crypto-protocol-defi100-may-have-absconded-with-32m-in-investor-funds"},{"credibility":2,"name":"Hack? DeFi100 Denies Allegations of $32 Million Exit Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"},{"credibility":2,"name":"DEFI100 Claims Website Hack Was Behind Exit Scam Message — FullyCrypto","type":"news_article","url":"https://fullycrypto.com/defi100-claims-website-hack-was-behind-exit-scam-message"},{"credibility":2,"name":"DeFi100: Hack or Rug Pull? — The Defiant","type":"news_article","url":"https://thedefiant.io/news/hacks/defi100-hack-or-rug-pull"},{"credibility":2,"name":"DeFi100 Claims Website Hack After Allegations Of Exit Scam — Crypto Daily","type":"news_article","url":"https://cryptodaily.co.uk/2021/05/defi100-scam-update"}]},{"content":"The widely reported $32 million figure was introduced by a Twitter account known as 'Mr. Whale,' an unnamed crypto analyst with approximately 197,000 followers at the time, who alleged DeFi100 had run away with $32 million in investor funds. No methodology was provided for this calculation, and the analyst did not respond to media inquiries seeking clarification. The DeFi100 team explicitly rebutted the figure, stating: 'Rumours of scamming for $32 million are false and baseless. The highest market cap the project ever had was less than $2 million and the project never held any investors' fund.' Multiple news outlets — including CoinDesk and Finance Magnates — noted the source and derivation of the $32 million number were unclear. The Fox Business report confirmed 'no one has been able to explain where the $32 million valuation came from.' Given the D100 token's peak price of approximately $3.50–$3.53 and a total supply of roughly 2.5 million tokens, a maximum theoretical market cap in that range would be approximately $8–9 million, still substantially below the $32 million figure. The Quadriga Initiative case study noted some reports placed the market cap at an estimated $32 million without explaining the methodology. This figure should be treated as unverified and low confidence.","heading":"Disputed $32 Million Loss Figure","severity":"high","sources":[{"credibility":1,"name":"People Behind Crypto Protocol DeFi100 May Have Absconded With $32M — CoinDesk (via Yahoo Finance)","type":"news_article","url":"https://finance.yahoo.com/news/people-behind-crypto-protocol-defi100-231952405.html"},{"credibility":1,"name":"Cryptocurrency DeFi100 Founders Deny Allegations They Stole $32 Million — Fox Business","type":"news_article","url":"https://www.foxbusiness.com/markets/cryptocurrency-defi100-founders-stole-investors"},{"credibility":2,"name":"Hack? DeFi100 Denies Allegations of $32 Million Exit Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"},{"credibility":3,"name":"May 2021 - Defi100 Pretend Exit Scam - Quadriga Initiative","type":"community_report","url":"https://quadrigainitiative.com/casestudy/defi100pretendexitscam.php"}]},{"content":"DeFi100's D100 token contract was audited by Solidity Finance (now SourceHat) on February 24, 2021, prior to launch. The audit found no externally exploitable vulnerabilities and issued an overall 'PASS' rating. However, the audit explicitly flagged significant centralization risks: the contract owner retained the ability to update the Monetary Policy address at any time, pause all token transfers, exempt specific addresses from restrictions, and ban individual users. The audit concluded that users 'must ensure trust in the project team as they have notable power in the ecosystem.' These owner privileges, combined with the oracle dependency (controlled by the team), created conditions under which the team could theoretically manipulate rebases or freeze user funds without necessarily triggering a detectable exploit. The audited contract addresses were: D100Token at 0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6 (BEP-20, BSC mainnet), Monetary Policy at 0x19c28F537A90B7F9975A69A3c6Ada808AA87D389, and three oracle contracts. The Traders of Crypto analysis noted that the smart contract's rebase mechanism was prone to malfunction and required manual operator intervention, making supply behavior unpredictable.","heading":"Smart Contract Audit and Centralization Risks","severity":"high","sources":[{"credibility":2,"name":"D100 - Solidity Finance Smart Contract Audit (now SourceHat)","type":"research","url":"https://sourcehat.com/audits/D100/"},{"credibility":2,"name":"Did DeFi100 (D100) Really Scam Investors? — Traders of Crypto","type":"news_article","url":"https://tradersofcrypto.com/news/did-defi100-d100-really-scam-investors/"},{"credibility":1,"name":"DEFI 100 (D100) Token Tracker — BscScan","type":"on_chain","url":"https://bscscan.com/token/0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6"}]},{"content":"D100 reached an all-time high of approximately $3.50–$3.53 shortly after its February 2021 launch, then collapsed to around $0.12 within a month of listing. By the time the May 2021 website incident occurred, the token had declined to approximately $0.08–$0.09, representing a loss of roughly 97–98% from peak value. In the 24 hours following the website incident, the price fell an additional 25% to approximately $0.08. The dramatic price decline predated the disputed website message and was consistent with the general collapse of BSC-era rebase tokens during this period, several of which failed due to faulty mechanics, low liquidity, and speculative token economics rather than provable fraud. The project acknowledged that 'investors faced huge losses as the project failed to achieve what we hoped for.' CertiK's security tracking, as noted by Fox Business at the time of the incident, continued to list DeFi100 as a 'rug pull,' though this classification was not accompanied by a published audit or on-chain analysis from CertiK.","heading":"Token Price Collapse and Investor Losses","severity":"high","sources":[{"credibility":1,"name":"People Behind Crypto Protocol DeFi100 May Have Absconded With $32M — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2021/05/22/people-behind-crypto-protocol-defi100-may-have-absconded-with-32m-in-investor-funds"},{"credibility":1,"name":"Cryptocurrency DeFi100 Founders Deny Allegations They Stole $32 Million — Fox Business","type":"news_article","url":"https://www.foxbusiness.com/markets/cryptocurrency-defi100-founders-stole-investors"},{"credibility":2,"name":"DEFI100 Developers Suspected of $32 Million Exit Scam — AtoZ Markets","type":"news_article","url":"https://atozmarkets.com/news/defi100-developers-suspected-of-32-million-exit-scam/"},{"credibility":2,"name":"DeFi100 price today, D100 — CoinMarketCap","type":"other","url":"https://coinmarketcap.com/currencies/defi100/"}]},{"content":"DeFi100 was developed and operated by an anonymous team using the collective pseudonym 'Wrapp3d.' No individual names, biographical details, or verifiable real-world identities have been publicly associated with the project. The GitHub organization (DEFI100-Rebase) and associated Wrapp3d repositories contain only code artifacts and do not identify contributors. The anonymous nature of the team made it impossible for investors or journalists to independently verify claims made during the crisis, assess the credibility of the hack explanation, or seek accountability. The DeFi100 Twitter account (@DEFI100) went effectively silent following the initial crisis response. No law enforcement investigation, no regulatory referral, and no civil litigation against identifiable individuals has been reported in connection with the DeFi100 incident as of the knowledge cutoff.","heading":"Anonymous Team and Accountability Gap","severity":"high","sources":[{"credibility":2,"name":"GitHub — DEFI100-Rebase Organization","type":"official","url":"https://github.com/DEFI100-Rebase"},{"credibility":2,"name":"GitHub — wrapp3d/defi100-rebase","type":"official","url":"https://github.com/wrapp3d/defi100-rebase"},{"credibility":2,"name":"Hack? DeFi100 Denies Allegations of $32 Million Exit Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"}]},{"content":"No regulatory action by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the U.S. Department of Justice (DOJ), or any foreign regulatory body against DeFi100 or associated individuals has been identified. No civil lawsuits naming project principals have been reported in available sources. This absence of regulatory action is in part attributable to the fully anonymous team structure, which makes individual accountability difficult to establish. The DeFi100 incident occurred during a period of rapid BSC token proliferation in which many projects failed or disappeared without regulatory follow-up. Sourcing on legal or regulatory matters for this entity is thin.","heading":"Regulatory and Legal Status","severity":"medium","sources":[{"credibility":2,"name":"Did DeFi100 (D100) Really Scam Investors? — Traders of Crypto","type":"news_article","url":"https://tradersofcrypto.com/news/did-defi100-d100-really-scam-investors/"}]},{"content":"As of available reporting, DeFi100 is effectively abandoned. The D100 token contract remains deployed on BSC (contract address 0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6) and some residual trading activity persists on decentralized exchanges, but there is no active development, no community updates, and no operational team presence. The DeFi100 Twitter account has been inactive since the crisis period. Token price has remained near zero relative to its all-time high. The project represents a case study in the broader wave of anonymous BSC rebase tokens launched in early 2021 that collapsed due to some combination of speculative mechanics, insufficient liquidity, and absent development follow-through.","heading":"Current Project Status","severity":"medium","sources":[{"credibility":1,"name":"DEFI 100 (D100) Token Tracker — BscScan","type":"on_chain","url":"https://bscscan.com/token/0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6"},{"credibility":2,"name":"DeFi100 Goes Down, Claiming They Were Hacked And Haven't Rug-Pulled — Crypto News Australia","type":"news_article","url":"https://cryptonews.com.au/news/defi100-goes-down-claiming-they-were-hacked-and-havent-rug-pulled-90784/"},{"credibility":2,"name":"DeFi100 price today, D100 — CoinMarketCap","type":"other","url":"https://coinmarketcap.com/currencies/defi100/"}]}],"sources_used":[{"credibility":1,"name":"People Behind Crypto Protocol DeFi100 May Have Absconded With $32M in Investor Funds — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2021/05/22/people-behind-crypto-protocol-defi100-may-have-absconded-with-32m-in-investor-funds"},{"credibility":1,"name":"Cryptocurrency DeFi100 Founders Deny Allegations They Stole $32 Million — Fox Business","type":"news_article","url":"https://www.foxbusiness.com/markets/cryptocurrency-defi100-founders-stole-investors"},{"credibility":1,"name":"People Behind Crypto Protocol DeFi100 — Yahoo Finance (CoinDesk syndication)","type":"news_article","url":"https://finance.yahoo.com/news/people-behind-crypto-protocol-defi100-231952405.html"},{"credibility":1,"name":"DEFI 100 (D100) Token Tracker — BscScan","type":"on_chain","url":"https://bscscan.com/token/0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6"},{"credibility":2,"name":"D100 Smart Contract Audit — SourceHat (formerly Solidity Finance)","type":"research","url":"https://sourcehat.com/audits/D100/"},{"credibility":2,"name":"Hack? DeFi100 Denies Allegations of $32 Million Exit Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"},{"credibility":2,"name":"DEFI100 Claims Website Hack Was Behind Exit Scam Message — FullyCrypto","type":"news_article","url":"https://fullycrypto.com/defi100-claims-website-hack-was-behind-exit-scam-message"},{"credibility":2,"name":"DeFi100: Hack or Rug Pull? — The Defiant","type":"news_article","url":"https://thedefiant.io/news/hacks/defi100-hack-or-rug-pull"},{"credibility":2,"name":"Did DeFi100 (D100) Really Scam Investors? — Traders of Crypto","type":"news_article","url":"https://tradersofcrypto.com/news/did-defi100-d100-really-scam-investors/"},{"credibility":2,"name":"DEFI100 Developers Suspected of $32 Million Exit Scam — AtoZ Markets","type":"news_article","url":"https://atozmarkets.com/news/defi100-developers-suspected-of-32-million-exit-scam/"},{"credibility":2,"name":"DeFi100 Claims Website Hack After Allegations Of Exit Scam — Crypto Daily","type":"news_article","url":"https://cryptodaily.co.uk/2021/05/defi100-scam-update"},{"credibility":2,"name":"DeFi100 Goes Down, Claiming They Were Hacked And Haven't Rug-Pulled — Crypto News Australia","type":"news_article","url":"https://cryptonews.com.au/news/defi100-goes-down-claiming-they-were-hacked-and-havent-rug-pulled-90784/"},{"credibility":2,"name":"DeFi100 price today, D100 — CoinMarketCap","type":"other","url":"https://coinmarketcap.com/currencies/defi100/"},{"credibility":2,"name":"DEFI100 Documentation — DEFI100-Rebase","type":"official","url":"https://docs.defi100.org/"},{"credibility":2,"name":"GitHub — DEFI100-Rebase Organization","type":"official","url":"https://github.com/DEFI100-Rebase"},{"credibility":3,"name":"DIA Insights — Partnership with Wrapp3d (Medium)","type":"other","url":"https://medium.com/dia-insights/partnership-with-wrapp3d-4c7d50801ee7"},{"credibility":3,"name":"May 2021 - Defi100 Pretend Exit Scam — Quadriga Initiative","type":"community_report","url":"https://quadrigainitiative.com/casestudy/defi100pretendexitscam.php"},{"credibility":3,"name":"Jetfuel Launchpad IJO with DEFI100 — Jetfuelfinance Medium","type":"other","url":"https://jetfuelfinance.medium.com/jetfuel-launchpad-ijo-with-defi100-b6b55fcf40ff"}],"summary":"DeFi100 (ticker: D100) was a synthetic index fund and elastic-supply rebase token launched on Binance Smart Chain in February 2021 by an anonymous developer group operating under the name Wrapp3d. On May 22, 2021, the project's website displayed a profane message claiming to have scammed investors, which the team attributed to a website hack rather than an intentional exit; the widely cited $32 million loss figure originated from an unverified Twitter claim and is contradicted by the project's own market-cap data, which placed its peak capitalization below $2 million. The project is effectively abandoned, and its token has lost more than 99% of its all-time-high value.","timeline":[{"date":"2020-12","event":"DeFi100 arrives on Twitter, establishing its social media presence approximately six months before the crisis.","source":"Fox Business","source_url":"https://www.foxbusiness.com/markets/cryptocurrency-defi100-founders-stole-investors"},{"date":"2021-02-24","event":"DeFi100 D100 token launches via Initial Jetfuel Offering (IJO) on the Jetfuel Finance launchpad on BSC. Smart contract audited by Solidity Finance. Liquidity locked for 11 months.","source":"Jetfuel Finance Medium / SourceHat Audit","source_url":"https://jetfuelfinance.medium.com/jetfuel-launchpad-ijo-with-defi100-b6b55fcf40ff"},{"date":"2021-02","event":"D100 token reaches all-time high price of approximately $3.50–$3.53 shortly after launch.","source":"Finance Magnates","source_url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"},{"date":"2021-03","event":"D100 token crashes to approximately $0.12, a decline of roughly 97% from peak within weeks of launch.","source":"AtoZ Markets","source_url":"https://atozmarkets.com/news/defi100-developers-suspected-of-32-million-exit-scam/"},{"date":"2021-05-22","event":"A message purportedly reading 'WE SCAMMED YOU GUYS AND YOU CANT DO SHIT ABOUT IT HAHA,' signed 'DEVISIN,' appears on the DeFi100 website. Screenshots circulate on social media. Twitter account 'Mr. Whale' alleges $32 million in investor funds were stolen, without citing a source.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2021/05/22/people-behind-crypto-protocol-defi100-may-have-absconded-with-32m-in-investor-funds"},{"date":"2021-05-23","event":"The scam message is removed from the DeFi100 website. D100 token falls 25% in 24 hours to approximately $0.08. The official DeFi100 Twitter account claims the website was hacked and denies any exit scam, stating the project's market cap never exceeded $2 million.","source":"Finance Magnates / FullyCrypto","source_url":"https://www.financemagnates.com/cryptocurrency/news/hack-defi100-denies-allegations-of-32-million-exit-scam/"},{"date":"2021-05-24","event":"Major outlets including Fox Business and Yahoo Finance (via CoinDesk) publish reports on the incident. CertiK's security tracking continues to list DeFi100 as a rug pull.","source":"Fox Business","source_url":"https://www.foxbusiness.com/markets/cryptocurrency-defi100-founders-stole-investors"},{"date":"2021-06","event":"Project issues further statements denying exit scam; claims it is working to revive the protocol. No substantive recovery activity is subsequently documented.","source":"Quadriga Initiative Case Study","source_url":"https://quadrigainitiative.com/casestudy/defi100pretendexitscam.php"}]},"v":1}

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