Eleven Finance
Summary
Eleven Finance is a yield optimizer and leveraged yield farming protocol deployed on Binance Smart Chain (BSC) and Polygon. On June 22, 2021, attackers exploited a critical smart contract vulnerability in the protocol's Nerve-partnership vaults, draining approximately $4.5–4.8 million. The team published a recovery plan, repaid an initial 25% tranche from personal debt, and later announced full principal recovery; however, the ELE token has since lost over 99% of its value from its all-time high, and the protocol appears largely inactive.
Connected Entities
1 entities · 10 linked investigationsTimeline(8 events)
2021-04-01
Eleven Finance publishes April 2021 update detailing vault ecosystem on BSC and Polygon, introducing the ELE token and Bigfoot leveraged yield farming platform.
2021-06-22
Attacker exploits the emergencyBurn() vulnerability in six Nerve-partnership vaults on BSC. Approximately $4.5–4.8 million is drained via flash loan attack. Attacker bridges proceeds to Ethereum via the Nerve bridge.
2021-06-24
Eleven Finance publishes post-mortem acknowledging developer oversight as root cause. Confirms NRV vaults represented 4% of total TVL and that remaining vaults continued operating. Bigfoot/BigFoot platform taken offline temporarily.
2021-06-25
A self-described whitehat hacker returns 849.2 BNB (~$252,000) to the Eleven Finance deployer address.
2021-07-01
Eleven Finance publishes full Recovery Plan. Phase 1 distributes 25% of losses (~$1.2M) to affected users. Team announces personal debt assumption and 11RV token structure for Phase 2 compensation.
2021-07-19
CertiK delivers audit of Eleven Finance lending bank contracts. Exploited vault contracts were not in audit scope.
2021-10-04
Eleven Finance announces full recovery of exploited funds. Phase 2 distribution planned to bring users near 100% compensation in BUSD.
2022-01-01
Team reports full compensation repayment to affected Nerve Vault exploit users, approximately 3 months ahead of initial estimate.
Decision Log
- hash: JAb98GpYRHfbb5ZCDZ7ZJkC3mfPq8BesYdrt1gZcCf4
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:56 AM
last updated: 5/28/2026, 5:55:06 PM
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