Audit log

Every state-changing event for Florence Finance: 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

   2026-05-28 08:20:51Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 422,682,751

   sig

   4B7BQQMxSR2P…QkJpBqyucopyexplorer ↗

   hash

   34R6YZjcvssb…K76fuKHhcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (6486 B) ▸

   {"actor":"system:backfill","investigation_id":"1428949e-5480-4c98-b18e-b160d86fca1a","kind":"publish","page_slug":"florence-finance","published_at":"2026-05-28T08:20:51.773Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Florence Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/coinmonks/navigating-new-financial-horizons-chiel-ruiter-on-bridging-defi-with-real-world-assets-088faed692c5","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/florence-finance","type":"other","url":""},{"credibility":3,"name":"https://medium.com/florencefinance/florence-finance-is-now-live-on-base-5b1b7b08bd40","type":"other","url":""},{"credibility":3,"name":"https://forum.arbitrum.foundation/t/florence-finance-final-stip-round-1/17103","type":"other","url":""},{"credibility":3,"name":"https://www.florence.finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://beincrypto.com/florence-finance-loses-1-45-million-hackers/","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/florence-finance-theft","type":"other","url":""},{"credibility":3,"name":"https://biztoc.com/x/2bc060bbf545f3ed","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://beincrypto.com/florence-finance-loses-1-45-million-hackers/","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/florence-finance-theft","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/florence-finance","type":"other","url":""},{"credibility":3,"name":"https://www.florence.finance/","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/florence-finance-medici/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://forum.arbitrum.foundation/t/florence-finance-final-stip-round-1/17103","type":"other","url":""},{"credibility":3,"name":"https://docs.florence.finance/docs","type":"other","url":""}]}],"sources_used":[{"credibility":2,"name":"Florence Finance loses $1.45 million to address poisoning — Web3 Is Going Great","type":"news_article","url":"https://www.web3isgoinggreat.com/single/florence-finance-theft"},{"credibility":2,"name":"Real-World Lending Project Florence Finance Suffers $1.45 Million Phishing Attack — BeInCrypto","type":"news_article","url":"https://beincrypto.com/florence-finance-loses-1-45-million-hackers/"},{"credibility":2,"name":"RWA Protocol Florence Finance Loses $1.45M in Address Poisoning Attack — BizToc/Cryptoslate","type":"news_article","url":"https://biztoc.com/x/2bc060bbf545f3ed"},{"credibility":2,"name":"Florence Finance Protocol — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/florence-finance"},{"credibility":2,"name":"Florence Finance STIP Round 1 Grant Proposal — Arbitrum Foundation Forum","type":"official","url":"https://forum.arbitrum.foundation/t/florence-finance-final-stip-round-1/17103"},{"credibility":3,"name":"Navigating New Financial Horizons: Chiel Ruiter on Bridging DeFi with Real World Assets — Coinmonks/Medium","type":"news_article","url":"https://medium.com/coinmonks/navigating-new-financial-horizons-chiel-ruiter-on-bridging-defi-with-real-world-assets-088faed692c5"},{"credibility":3,"name":"Florence Finance: Now Live on Base — Florence Finance Medium","type":"official","url":"https://medium.com/florencefinance/florence-finance-is-now-live-on-base-5b1b7b08bd40"},{"credibility":2,"name":"Florence Finance Medici (FFM) — CoinMarketCap","type":"other","url":"https://coinmarketcap.com/currencies/florence-finance-medici/"},{"credibility":2,"name":"Florence Finance Official Website","type":"official","url":"https://www.florence.finance/"},{"credibility":2,"name":"Florence Finance Documentation","type":"official","url":"https://docs.florence.finance/docs"}],"summary":"Florence Finance is a DeFi real-world asset (RWA) lending protocol built on Arbitrum that tokenizes euro-denominated loans to European small and medium enterprises (SMEs). In November 2023 the protocol lost $1.45 million in USDC to an address poisoning attack, and notably failed to publicly acknowledge the theft for at least five days after it was reported by security firms. As of 2025-2026 the protocol's TVL has collapsed to approximately zero and the official website indicates the project is shutting down.","timeline":[{"date":"2021-01-01","event":"Florence Finance founded by Chiel Ruiter and co-founders during the COVID pandemic, conceived as a euro-denominated RWA protocol for DeFi.","source":""},{"date":"2022-01-01","event":"Protocol Version 2 launched; first loan underwritten on Ethereum mainnet.","source":""},{"date":"2023-01-01","event":"Protocol migrates to Arbitrum network.","source":""},{"date":"2023-10-01","event":"Florence Finance submits STIP Round 1 grant proposal to Arbitrum DAO requesting 250,000 ARB to incentivize new depositors.","source":""},{"date":"2023-11-28","event":"Address poisoning attack drains 1,456,162 USDC (~$1.45 million) from the protocol on Ethereum. Attacker converts funds to ETH and bridges via THORChain.","source":""},{"date":"2023-11-30","event":"Blockchain security firm PeckShield publicly reports the Florence Finance address poisoning attack.","source":""},{"date":"2023-12-04","event":"As of this date, Florence Finance has still not publicly acknowledged the $1.45 million theft on any official channel.","source":""},{"date":"2024-01-01","event":"FFM public token sale launches; reportedly sells out in under 10 seconds with 104 participants averaging 4.27 ETH each.","source":""},{"date":"2024-03-01","event":"Florence V3 released on Arbitrum, introducing 'yield stacking' using stEUR alongside Florence vaults.","source":""},{"date":"2024-09-01","event":"Florence Finance launches on Base network, opening the Avellinia Loan Vault.","source":""},{"date":"2025-01-01","event":"TVL begins sustained decline toward zero; protocol activity diminishes substantially across Arbitrum and Base.","source":""},{"date":"2026-01-01","event":"Official Florence Finance website announces protocol shutdown. DeFiLlama records $0 TVL with only ~$61,976 in residual active loans.","source":""}]},"v":1}

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