Gamma Strategies
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anchored·37XZQ1…9VSoSummary
Gamma Strategies is a non-custodial, automated concentrated liquidity management protocol operating across multiple EVM chains, allowing users to deposit assets into managed vaults (Hypervisors) that actively rebalance Uniswap V3 and similar DEX positions. On January 4, 2024, the protocol suffered a price manipulation exploit across four vaults resulting in approximately $3.4–6.2 million in losses, caused by misconfigured price change thresholds in deposit proxy settings. The protocol paused deposits, engaged OpenZeppelin for a remediation audit, and committed to a long-term user compensation plan funded by protocol revenue, though full recovery of lost funds was not guaranteed at launch of that plan.
Connected Entities
7 entities · 60 linked investigations- Gamma Strategies→mentioned with→Uniswap(70%)
- Gamma Strategies→mentioned with→Balancer(65%)
- Gamma Strategies→mentioned with→Hyperliquid(60%)
- Gamma Strategies→mentioned with→Ethereum(60%)
- Gamma Strategies→mentioned with→Arbitrum(70%)
- Balancer→mentioned with→Arbitrum(60%)
- Balancer→mentioned with→Ethereum(70%)
- Hyperliquid→mentioned with→Uniswap(60%)
- Hyperliquid→mentioned with→Arbitrum(65%)
- Hyperliquid→mentioned with→Ethereum(70%)
- + 8 more
Timeline(11 events)
May 2021
Visor Finance announces the Gamma organization, funding it with $500,000 to research Active Liquidity Provider strategies.
Visor Finance MediumJune 2021
Visor Finance suffers first exploit: approximately $500,000 lost via a privileged function call. Team publicly characterized it as 'not a rug.'
REKT NewsNovember 2021
Visor Finance suffers second incident. Team characterizes it as economic arbitrage rather than an exploit.
REKT NewsDecember 2021
Visor Finance loses approximately $8.2 million in an infinite mint vulnerability. Two days later, rebrand to Gamma Strategies is announced.
REKT News2022
Visor Finance and Gamma Strategies formally merge, consolidating protocol, treasury, and personnel under the Gamma Strategies brand.
Gamma Strategies Medium4 January 2024
Exploit initiated at approximately 03:30 UTC. Attacker uses flash loans from Uniswap V3 and Balancer to manipulate prices across four Gamma vaults on Arbitrum. Approximately $3.4–6.2 million is drained.
Gamma Strategies Post-Mortem (Medium) / REKT News4 January 2024
PeckShield publicly alerts the community to the exploit at approximately 03:42 UTC. Gamma Strategies acknowledges the incident and suspends all vault deposits.
The Block4 January 2024
Gamma Strategies sends on-chain negotiation message to attacker address at 10:54 AM UTC, proposing a bug bounty for return of funds.
Gamma Strategies Post-Mortem (Medium)4 January 2024
Attacker deposits approximately 1,000 ETH (~$2.2M) into Tornado Cash, indicating no intention to return funds.
REKT News8 January 2024
OpenZeppelin audit engagement expected to begin for deposit proxy configuration review. Gamma commits to 1–3 week deposit reopening timeline post-audit.
Gamma Strategies Post-Mortem (Medium) / CoinLiveMay 2024
Sherlock audit contest for Gamma staking contracts begins, indicating continued security review post-exploit.
GitHub — sherlock-audit/2024-05-gamma-stakingDecision Log
- slot 424319678 · hash Hhg42cjiXZLqN2vfUc7rxubjV4CcxXyZC115J8pvuuhZ
- slot 424319675 · hash 5ynA58VMq2ccykE14AnKfsmqev6zzLSXkk6dPNnJVsF
- slot 423640252 · hash 9KZhVYGRPwBk6NYgk5BoBfmtudA2J4ZE58XaGrEX79Tt
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 17 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/1/2026, 5:47:51 PM
last updated: 6/1/2026, 5:47:51 PM
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