Elephant Money
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 10 → 54. Problems weighed by who is responsible: the subject's own conduct −8, incidents the subject suffered −6.4, concerns that are not fraud −6.4; legitimacy credit long-running +10. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -8 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Long-running | +10 |
| Sum | 54 |
Score: 54/100 (kept between 0 and 100)
How scoring works →Summary
Elephant Money is a Binance Smart Chain DeFi protocol offering the ELEPHANT reward token and TRUNK stablecoin that suffered a $22.2 million flash loan price-manipulation exploit in April 2022, with stolen funds laundered through Tornado Cash. Independent analysts have additionally alleged that the protocol's yield mechanics constitute a structurally unsustainable Ponzi scheme dependent on continuous new capital inflows.
Connected Entities
8 entities · 60 linked investigations- Elephant Money Stable (Wormhole) (TRUNK)→associated with→Elephant Money(80%)
- 547Jj6…8PCW→controls→Elephant Money Stable (Wormhole)(90%)
- Raydium AMM Authority→associated with→Elephant Money Stable (Wormhole)(60%)
- Elephant Money→mentioned with→Ethereum(70%)
- Elephant Money→mentioned with→Binance(70%)
- Binance→mentioned with→Ethereum(65%)
- 4kAyG7…mPay→controls→Elephant Money Stable (Wormhole)(90%)
Live On-Chain Activity
1 address watched · via HeliusTimeline(9 events)
26 March 2021
CertiK audit completed; protocol receives 30/100 security score with 8 findings, all left unresolved
May 2021
Elephant Money launches on Binance Smart Chain with ELEPHANT token and TRUNK stablecoin
29 March 2022
Founder 'Bankteller' conducts public AMA, describes protocol as valued at $3.5 billion and claims no other developers on team
12 April 2022
Flash loan price manipulation exploit drains $11.2–$22.2 million from protocol reserves; attacker address funded via Tornado Cash; ELEPHANT token drops 76–88%
13 April 2022
Stolen funds bridged to Ethereum and laundered through Tornado Cash; approximately 3,472 ETH ($10M) moved off-chain
18 April 2022
De.fi publishes full analysis placing total losses at $22.2 million including 30.4 trillion ELEPHANT tokens not disclosed in official post-mortem
April 2022
HackLaddy publishes analysis alleging Ponzi structure, calling 205% APY unsustainable and dependent on new investor capital
26 December 2023
HackLaddy publishes follow-up analysis after Elephant Money revamp, maintaining allegations of structurally unsustainable yield and Ponzi mechanics
19 May 2026
ELEPHANT token trades near $0.000000074 with ~$20M market cap; TRUNK remains significantly depegged; redemptions available only via managed queue
Decision Log
- slot 455368615 · hash Ez5E8rKWB8Zr3TPCatyE1NYtCNkiQjvALPmdRVRRgUzR
- slot 420846222 · hash BYR3kx9dGgSWvpamXdExginswk4XCbmQjiANWkdozYqG
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 7 of 12 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:50 AM
last updated: 10/10/2026, 6:48:43 PM
4 viewsavoid.net — verified advice for a post-truth world