Fortress Loans
Last changed 2026-10-30 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -9.6 |
| Problems around it, caused by others | -2.4 |
| Long-running | +4 |
| Sum | 54 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-30 · 3 of 8 claims confirmed · 3 need better sources · 2 out of date
anchored·3GjVKq…Uz3zSummary
Fortress Loans (also called Fortress Protocol) was an algorithmic lending protocol on BNB Chain run by the JetFuel Finance team. In May 2022 an attacker bought enough FTS tokens to pass a malicious governance proposal and exploited an unprotected Umbrella Network oracle function, draining about $2.98 million that was laundered through Tornado Cash and never recovered. A partial compensation plan was announced, but the protocol has been effectively defunct since, with TVL near zero.
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(13 events)
April 2021
Fortress Loans launches on Binance Smart Chain as an algorithmic lending protocol developed by JetFuel Finance.
bsc.newsAugust 2021
Umbrella Network introduces the faulty oracle contract code later exploited; the code goes unaudited.
Umbrella Network (Medium)April 2022
FTS governance token issued with a total supply of 10,000,000 (dated 21 April 2022 by SlowMist).
SlowMist Hack AnalysisApril 2022
Attacker first interacts with Fortress Loans, deploying an unverified custom contract.
CertiKApril 2022
Attacker obtains 20 ETH via Tornado Cash and bridges 12.4 ETH to BNB Chain via cBridge, about 19 days before the exploit.
SlowMist Hack AnalysisMay 2022
Attacker buys ~400,000 FTS (4% of supply) and submits governance proposal FIP-11 to raise the FTS collateral factor from 0% to 70%.
CertiKMay 2022
FIP-11 three-day vote ends with only the attacker's votes; proposal passes.
SlowMist Hack AnalysisMay 2022
FIP-11 executes; attacker manipulates the Umbrella oracle to inflate the FTS price and drains about $2.98 million from all fToken markets (dated 8 May by one page, 9 May by SlowMist and Rekt News).
Rekt NewsMay 2022
Stolen funds bridged to Ethereum via Anyswap and cBridge; 1,048.1 ETH and 400,000 DAI deposited into Tornado Cash. FTS price falls over 45%.
The RecordMay 2022
JetFuel Finance disables supply/borrow in the UI and alerts Binance and Umbrella Network; Umbrella deploys an oracle hotfix.
JetFuel Finance (Medium)May 2022
JetFuel Finance announces a compensation plan: $300,000 USDC immediately, $200,000 USDC in reserve and 10,000,000 UMB on one-year vesting (dated 10 May by one page, 14 May by the other).
JetFuel Finance (Medium)May 2022
Protocol restart scheduled for 13-14 May; proposal to remove on-chain governance scheduled for 16-17 May.
JetFuel Finance (Medium)2024
DefiLlama records Fortress Loans TVL at approximately $1,168 with zero active loans; FTS market cap approximately $13,900.
DefiLlamaDecision Log
- slot 463284309 · hash 4TJqAQ6QGjUi3f5cxVj8FTxqhWKBLLPwW42jLtJ8FiMj
- slot 463284304 · hash BFZaqWo5M38EbCcgwFEQZGEDD4fxXBKTgVa1rNjL3N4t
- slot 455362363 · hash 4o3HnWnooydD1vQtGWxDCqZXP1bWj3DdpXgJHCg9j9Rz
- slot 422765200 · hash GZeupq97vYd25eqgkE3fdLF43pdJR2hhCgd8cc758vhv
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 18 of 21 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 5/4/2026, 2:54:49 AM
last updated: 10/30/2026, 12:24:58 PM
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