FutureSwap
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 22 → 50. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −6.4, problems around the subject, caused by others −2.4; legitimacy credit long-running +10; no longer operating, so capped at 50. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -2.4 |
| Long-running | +10 |
| Sum | 60 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Summary
Futureswap is a decentralized perpetual futures exchange built on Arbitrum and Avalanche that raised $12 million in 2021 but has been effectively dormant since 2023. The protocol suffered three separate exploits between December 2025 and January 2026, resulting in cumulative losses exceeding $1.3 million, while the team made no public response to any incident. ZachXBT flagged the entity as a risk, and the protocol's last known audit dates to 2021.
Connected Entities
7 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- FutureSwap→mentioned with→Aave(60%)
- FutureSwap→mentioned with→ZachXBT(70%)
- FutureSwap→mentioned with→Chainlink(65%)
- FutureSwap→mentioned with→Uniswap(65%)
- FutureSwap→mentioned with→Ethereum(75%)
- FutureSwap→mentioned with→Arbitrum(70%)
- Uniswap→mentioned with→Ethereum(80%)
- Chainlink→mentioned with→Ethereum(65%)
- Aave→mentioned with→Arbitrum(70%)
- + 6 more
Timeline(10 events)
March 2020
Framework Ventures invests $400,000 in Futureswap, an early decentralized futures exchange.
2020
Futureswap V1 launches on Ethereum mainnet offering perpetual futures with leveraged trading.
3 January 2021
OpenZeppelin publishes Futureswap V2 audit report, identifying three high-severity and eight medium-severity issues; no critical issues found.
11 October 2021
Futureswap closes $12 million Series A funding round led by Framework Ventures, with Ribbit Capital, Placeholder.vc, and True Ventures participating. V4 announced simultaneously.
2022
Futureswap V4 mainnet beta launches on Arbitrum, offering up to 30x leverage via Uniswap V3 liquidity pools and Chainlink price feeds.
April 2022
Futureswap V4.1 launches on Avalanche with Trader Joe as the underlying AMM, supporting JOE-USDC and AVAX-USDC pairs.
2023
Futureswap's official X account posts its last known public update. Team communication effectively ceases.
14 December 2025
Alleged governance attack exploits FST token snapshot mechanism via flash loan, allowing attacker to borrow approximately 3.6 million FST tokens and pass a malicious proposal. Estimated loss: $830,000.
10 January 2026
BlockSec flags a suspected exploit draining approximately $395,000 in USDC from Futureswap V4 contracts on Arbitrum. Exploit alleged to involve stableBalance accounting manipulation via flash loan and changePosition operations. BlockSec states it cannot reach the team.
14 January 2026
A second attacker exploits a reentrancy vulnerability in the same Futureswap V4 contract, minting inflated LP tokens and redeeming them after a three-day cooldown for approximately $74,000 in collateral.
Decision Log
- slot 455357508 · hash 5ER5yLKHUZr1NvhgAZ8jR9myGxc19bL6XNakkWR6oVVS
- slot 422971577 · hash 2iDwcVzDzQdnSQDgu8tSPYkpGvhRPcz6brpY2So4CAk7
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 7 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:14 AM
last updated: 10/10/2026, 6:39:37 PM
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