Fortress Loans
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anchored·3GjVKq…Uz3zSummary
Fortress Loans (fortress.loans) was an algorithmic money market and lending protocol on BNB Chain (Binance Smart Chain), launched in April 2021 by the JetFuel Finance team. On May 8, 2022, the protocol was drained of all funds — approximately $2.98 million — through a combined governance manipulation and oracle price manipulation attack. The protocol has been effectively inactive since, with DefiLlama recording a TVL of approximately $1,168 as of 2024, and the FTS governance token has lost effectively all of its value.
Connected Entities
5 entities · 60 linked investigations- Fortress Protocol→mentioned with→Binance(70%)
- Fortress Protocol→mentioned with→Ethereum(70%)
- Binance→mentioned with→Ethereum(65%)
- Fortress Loans→mentioned with→Fortress Protocol(80%)
- Fortress Protocol→mentioned with→Fortress Loans(80%)
- Multichain→mentioned with→Binance(75%)
- Multichain→mentioned with→Ethereum(60%)
- Fortress Loans→mentioned with→Ethereum(80%)
- Fortress Loans→mentioned with→Binance(80%)
- Fortress Loans→mentioned with→Multichain(70%)
Timeline(10 events)
April 2021
Fortress Loans launches on Binance Smart Chain as an algorithmic lending protocol developed by JetFuel Finance.
August 2021
Umbrella Network introduces buggy oracle smart contract code that would later be exploited; the code goes unaudited.
19 April 2022
The attacker first interacts with Fortress Loans, deploying an unverified custom contract in preparation for the later exploit.
29 April 2022
Attacker obtains 20 ETH via Tornado Cash on Ethereum mainnet and bridges 12.4 ETH to BNB Chain via cBridge.
8 May 2022
Exploit occurs: attacker purchases ~400,000 FTS tokens (~$8,000–$11 ETH), passes malicious Proposal FIP-11 raising FTS collateral factor to 70%, manipulates Umbrella oracle to inflate FTS price to near $1 trillion, and drains approximately $2.98 million in assets from all fToken markets.
8 May 2022
Fortress Protocol team pauses platform UI and announces hack on social media. FTS token price falls more than 45%. Umbrella Network deploys oracle hotfix.
8 May 2022
Stolen funds (1,048.1 ETH and 400,000 DAI) are bridged to Ethereum via Anyswap/Multichain and deposited into Tornado Cash.
14 May 2022
JetFuel Finance publishes compensation plan via Medium: over $1 million in compensation announced including $300,000 USDC immediate disbursement, $200,000 USDC reserve, and 10,000,000 UMB tokens from Umbrella Network on one-year vesting.
14 May 2022
Protocol restart scheduled; on-chain governance removal planned for May 16–17.
2024
DefiLlama records Fortress Loans TVL at approximately $1,168 with zero active loans; FTS token market cap approximately $13,900; protocol effectively dormant.
Decision Log
- hash: GZeupq97vYd25eqgkE3fdLF43pdJR2hhCgd8cc758vhv
This investigation is cryptographically anchored to the Solana blockchain (1 event). 12 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:49 AM
last updated: 8/30/2026, 5:14:13 AM
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