Gym Network
Summary
Gym Network (GYMNET) is a Binance Smart Chain-based DeFi protocol launched in March 2022 that operates an affiliate investment scheme with hallmarks of a Ponzi structure, requiring continuous recruitment to sustain promised returns of up to 250% annually. The project was founded by Claudio Catrini, who has prior involvement in the OneCoin fraud, and suffered a $2.1 million smart contract exploit in June 2022. The GYMNET token has declined approximately 99.8% from its all-time high of $1.90 to under $0.004 as of 2026.
Connected Entities
1 entities- + 1 more
Timeline(11 events)
2021-10-19
GYMNET token deployed to Binance Smart Chain mainnet.
2021-12-13
gym.network domain registered.
2022-03-25
Gym Network formally launches; GYMNET token priced at $0.20 at launch. TVL reaches $13M within days.
2022-04-14
GYMNET token reaches all-time high of $1.90.
2022-06-08
$2.1 million exploit of GymSinglePool contract via depositFromOtherContract() authentication flaw. GYMNET crashes ~90% in immediate aftermath.
2022-06-09
Gym Network applies fix adding 'onlyBank' modifier to exploited function. CertiK and ImmuneBytes publish exploit analyses.
2022-08-01
Gym Network announces Gym Street metaverse spinoff, marketed as 'the Metaverse counterpart of Wall Street.' Introduces VBTC token.
2022-12-30
BehindMLM reports Gym Network is struggling; Gym Street NFT metaverse spinoff launched as original scheme declines.
2023-04-21
GYMNET reaches then-all-time low of approximately $0.01676.
2026-01-02
GYMNET records absolute all-time low of $0.00001987.
2026-05-27
GYMNET trading at approximately $0.004, down ~99.8% from all-time high; market cap under $500,000.
Decision Log
- hash: J3aNexvxkVtPxPVfLf1S1zjvhGEGvgA56XpZzsZ2gKY9
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:49 AM
last updated: 5/27/2026, 6:18:14 PM
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