Flooring Protocol
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anchored·4hmRdz…WyPcSummary
Flooring Protocol (fp.io) is an Ethereum-based NFT fractionalization platform that converts non-fungible tokens into fungible micro-tokens (μTokens and fpTokens) pegged to collection floor prices. The protocol launched in October 2023, was exploited twice — once in December 2023 (~$1.6M stolen) and again in June 2026 (~$570K in NFTs rescued by a Yuga Labs white-hat team — and entered formal sunset mode in September 2025 after liquidity and organizational failures. At the time of the June 2026 incident, the protocol was effectively defunct with a TVL of approximately $9.51.
Connected Entities
1 entitiesTimeline(8 events)
8 September 2023
Halborn completes smart contract security audit; no critical issues found.
Floor Protocol Docs / Halborn4 October 2023
OtterSec completes smart contract security audit; no critical issues found.
Floor Protocol Docs17 December 2023
First exploit: a flawed unaudited contract upgrade enables theft of approximately $1.6 million in NFTs including Bored Apes and Pudgy Penguins via multicall authorization bypass.
Protos / CoinmonksSeptember 2025
Flooring Protocol announces sunset mode; advises FPv2 token holders to redeem NFTs and exit positions before October 15, 2025.
CoinTelegraph / Crypto.news15 October 2025
FPv2 token redemption deadline passes; protocol enters operational wind-down with residual NFTs still locked in pools.
CoinTelegraph8 June 2026
Second confirmed exploit: attacker uses bit-level accounting flaw in BT404 contracts to generate near-infinite fpToken balance from minimal WETH, draining NFT pools. BitmapPunks also affected due to shared contract architecture. Security researcher CoffeeDev identifies the flaw. Yuga Labs CEO Michael Figge and VP of Blockchain 0xQuit execute white-hat rescue via GrailsOTC, recovering 68 NFTs worth over $570,000. FreeLunchCapital publishes post-mortem attributing flaw to gas-optimization bit-manipulation code.
The Defiant / CoinTelegraph / Crypto Briefing / Coin Edition9 June 2026
Yuga Labs confirms 68 NFTs remain in company custody pending deployment of a verified fix by Flooring Protocol developers. Some NFTs remain under attacker control. Users warned against further deposits.
Crypto Times / BanklessTimesDecision Log
- hash: Hfk7EUjoSmapSrkdKAjLLug7Z625NMBTmYPRH7ZBEoKi
- hash: F7Nz7jDjmnokD2c9GCxh75QmT9q4NHGLofj7kQee7cgc
- hash: 8Pzu5eksYTTaWT9VHj5ZmQGkyfg8aHaP68GZshhbx2mc
This investigation is cryptographically anchored to the Solana blockchain (3 events). 17 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 6/9/2026, 9:07:00 PM
last updated: 7/27/2026, 4:55:20 AM
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