Hedgey Finance
Summary
Hedgey Finance is a token vesting and claims infrastructure protocol founded in 2021 and used by over 100 blockchain projects including Arbitrum DAO and ENS DAO. On April 19, 2024, the protocol suffered a critical smart contract exploit that drained approximately $44.7 million across Ethereum mainnet and Arbitrum through a flash loan attack exploiting insufficient input validation in the ClaimCampaigns contract. In December 2025, Hedgey was acquired by Anchorage Digital, the first federally chartered crypto bank in the United States.
Connected Entities
1 entities · 10 linked investigationsTimeline(8 events)
2021-06-01
Hedgey Finance founded by Lindsey Winder, Alex Michelsen, and Shawn Simas in Brooklyn.
Crunchbase / Tracxn2023-06-26
ConsenSys Diligence begins a second re-audit of Hedgey's Token Lockup and Vesting Plans contracts, commissioned ahead of Arbitrum DAO onboarding. Audit completes July 21, 2023. The ClaimCampaigns vulnerability is not identified.
ConsenSys Diligence Audit Report2024-04-19
Hedgey Finance ClaimCampaigns contract exploited across Ethereum and Arbitrum. Approximately $44.7 million drained through a flash loan attack exploiting missing input validation and un-revoked token approvals in createLockedCampaign(). Ethereum attacker funded via FixedFloat; Arbitrum attacker funded via Axelar bridge.
Rekt News / CoinTelegraph2024-04-19
Hedgey disables new claim campaign creation and issues public alert advising users to cancel active claims. Team engages SEAL 911 incident response and contacts affected protocols.
Hedgey Official Post-Mortem (Medium)2024-04-19
Cyvers detects on-chain movement of stolen funds. Attacker moves approximately 200,000 BONUS tokens (~$110,000) to Bybit exchange. Approximately 76.8 million BONUS tokens remain in attacker wallet.
BeInCrypto2024-04-20
Hedgey Finance sends on-chain message to attacker via Etherscan treating the incident as a potential white hat discovery and requesting return of funds. NobleBlocks confirms collaboration with Hedgey on NOBL recovery efforts.
BeInCrypto / Coinspeaker2024-08-01
Hedgey publishes Security Audits and Fuzzing Overview documenting four new audits commissioned following the April 2024 exploit.
Hedgey Finance Blog2025-12-16
Anchorage Digital acquires Hedgey Finance. The Hedgey team joins Anchorage to build a full-stack token lifecycle management offering. Financial terms undisclosed.
The BlockDecision Log
- hash: 3cDq4DtCCrUcbe7NckTwHsUdm6gv9kr3PLYYX5uDGGjA
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, 6:59:36 AM
last updated: 5/31/2026, 6:59:39 AM
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