Fortress Protocol
Summary
Fortress Protocol was a BSC-based lending and borrowing protocol operated as the lending arm of JetFuel Finance. On May 9, 2022, an attacker exploited simultaneous vulnerabilities in the protocol's governance system and Umbrella Network price oracle, draining approximately $2.98 million in user funds. Stolen assets were laundered through Tornado Cash and were never recovered; the protocol subsequently removed on-chain governance and has remained largely inactive.
Connected Entities
1 entities · 10 linked investigationsTimeline(9 events)
2022-04-29
Attacker obtained 20 ETH via Tornado Cash and bridged 12.4 ETH to BSC using cBridge, beginning pre-attack preparations approximately 19 days before execution.
SlowMist Hack Analysis2022-05-04
Attacker swapped approximately 11.4 ETH for ~400,000 FTS tokens (4% of total supply) and submitted malicious governance proposal FIP-11, which proposed raising the FTS collateral factor from 0% to 70%.
CertiK — Fortress Loans Incident Analysis2022-05-07
FIP-11 three-day voting period concluded with attacker's votes as the only recorded votes; proposal passed.
SlowMist Hack Analysis2022-05-09
FIP-11 executed after 2-day implementation delay. Attacker called Umbrella Network's unprotected submit() oracle function to set FTS price to a near-trillion-dollar value, then used ~100 FTS as collateral to drain all protocol liquidity. Approximately $2.98 million stolen across BNB, ETH, stablecoins, and other tokens.
Rekt News — Fortress Protocol2022-05-09
Stolen assets bridged to Ethereum via Anyswap and cBridge; 1,048.1 ETH and 400,000 DAI deposited into Tornado Cash. FTS token price fell over 45%.
The Record — DeFi protocol Fortress announces $3 million hack2022-05-09
JetFuel Finance team disabled supply/borrow UI, alerted Binance and Umbrella Network, and issued public disclosure acknowledging the attack.
Fortress Attack Update and Compensation — JetFuel Finance2022-05-10
JetFuel Finance announced compensation plan: $300,000 USDC immediate distribution from Umbrella Network, $200,000 USDC in reserve, and 10,000,000 UMB tokens on one-year vesting.
Fortress Attack Update and Compensation — JetFuel Finance2022-05-13
Protocol restart scheduled following remediation; on-chain governance removal proposal (FIP) scheduled for May 16–17 passage.
Fortress Attack Update and Compensation — JetFuel FinanceDecision Log
- hash: C7FUcmdY9A5B31L5ZQSfZhauKnH7hNwgkD19DRaQf2LL
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/31/2026, 6:59:31 AM
last updated: 5/31/2026, 6:59:35 AM
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