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anchored·5dJU8W…c4QPSummary
Gamma Strategies is a DeFi active liquidity management (ALM) protocol built on Uniswap v3 and other concentrated-liquidity DEXs, formerly known as Visor Finance. The protocol suffered a significant flash loan exploit on January 4, 2024, resulting in losses of approximately $6.18 million across four vaults on Arbitrum; the attacker laundered the majority of stolen funds through Tornado Cash. This was not the protocol's first security incident: its predecessor Visor Finance lost approximately $8.2 million to an infinite mint vulnerability in December 2021, leading to a rebrand.
Connected Entities
8 entities · 60 linked investigations- Gamma Strategies→mentioned with→Uniswap(70%)
- Gamma Strategies→mentioned with→Balancer(65%)
- Gamma Strategies→mentioned with→Ethereum(60%)
- Gamma Strategies→mentioned with→Arbitrum(70%)
- Balancer→mentioned with→Arbitrum(60%)
- Balancer→mentioned with→Polygon(60%)
- Balancer→mentioned with→Ethereum(70%)
- Uniswap→mentioned with→Ethereum(80%)
- Gamma→mentioned with→Arbitrum(70%)
- Gamma→mentioned with→Balancer(60%)
- + 12 more
Timeline(9 events)
December 2021
Visor Finance (predecessor to Gamma Strategies) suffers approximately $8.2 million loss due to an infinite mint (access control) vulnerability.
3 December 2021
Visor Finance announces rebrand to Gamma Strategies with a new token and reported team overhaul following the exploit.
4 January 2024
Gamma Strategies exploited via flash loan and price manipulation attack on Arbitrum vaults beginning at approximately 03:30 UTC. Total losses reach approximately $6.18 million across four vaults. PeckShield first alerts on social media.
4 January 2024
Gamma Strategies acknowledges the exploit approximately 90 minutes after it began and pauses all vault deposits across the protocol.
4 January 2024
Attacker bridges stolen USDT from Arbitrum to Ethereum via Stargate bridge and deposits approximately 1,000 ETH into Tornado Cash.
4 January 2024
At 10:54 AM UTC, Gamma Strategies sends on-chain message to attacker's wallet (0x5351536145610aa448a8bf85ba97c71caf31909c) offering bug bounty negotiations. No substantive response is received.
5 January 2024
Gamma Strategies publishes preliminary investigation disclosing root cause: a configuration error in automation scripts set price change thresholds to -50%/+100% instead of the intended 2%.
9 January 2024
Gamma Strategies announces engagement of OpenZeppelin for a third-party smart contract security audit. Deposits remain paused pending audit results, with a 1–3 week estimated timeline.
10 January 2024
Gamma Strategies publishes post-mortem and remediation plan, establishing the Recovery Pool funded by at least 45% of protocol revenues, with affected users listed in a public spreadsheet.
Decision Log
- hash: tq6rHtKjRuTo6xbLiWiSDYStNAtxfPeQ7ZEgusG5PMr
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, 2:54:52 AM
last updated: 8/29/2026, 1:33:25 AM
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