INK Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 22 → 51. Problems weighed by who is responsible: incidents the subject suffered −20, concerns that are not fraud −6, problems around the subject, caused by others −2.3; legitimacy credit long-running +6; the penalty for incidents it suffered is capped at 20; a recent unresolved incident −2.5. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -2.3 |
| Long-running | +6 |
| Recent unresolved incident | -2.5 |
| Sum | 40 |
- The penalty for incidents it suffered is capped at 20 points.
Score: 51/100 (kept between 0 and 100)
How scoring works →Summary
INK Finance is a multichain DeFi governance and treasury management protocol, native token QUILL, with deployments on Polygon, Ethereum, Avalanche, and BNB Chain. On May 11, 2026, an attacker drained approximately $140,180 USDT from its Workspace Treasury Proxy contract on Polygon by exploiting a whitelist authorization flaw amplified with a Balancer V2 flash loan. The exploit was confirmed on-chain via Polygonscan; as of the time of writing the INK Finance team had not released a formal post-mortem or recovery plan.
Connected Entities
6 entities · 60 linked investigations- INK Finance→mentioned with→Polygon(80%)
- INK Finance→mentioned with→Ethereum(70%)
- INK Finance→mentioned with→Railgun(70%)
- INK Finance→mentioned with→Balancer(70%)
- Balancer→mentioned with→Polygon(60%)
- Balancer→mentioned with→Ethereum(70%)
- Binance→mentioned with→Ethereum(65%)
- Railgun→mentioned with→Polygon(70%)
- Polygon→mentioned with→Ethereum(70%)
- Polygon→mentioned with→Binance(70%)
- + 3 more
Timeline(10 events)
October 2022
INK Finance completes $2.5 million funding round, bringing total raised to $4 million across two rounds.
ICOholder — Ink Finance project detailsDecember 2022
INK Finance expands to the Polygon network, enabling lower-cost DAO treasury operations.
Ink Finance Medium — Polygon expansion announcement15 August 2023
SALUS security firm completes comprehensive smart contract audit, threat modeling, and business logic audit of INK Finance contracts.
Ink Finance Medium — Into Q1 2024December 2023
Workspace Treasury Proxy contract (0xa184Af4B1c01815A4B57422A3419E4FB78a96Ee4) deployed on Polygon as an EIP-1967 beacon proxy. No material upgrades are applied to this contract between deployment and the May 2026 exploit.
CryptoTimes / Cryip — INK Finance exploit reporting2 December 2024
QUILL token reaches its all-time high price of approximately $1.43.
CoinGecko — QUILL price history11 May 2026
Attacker wallet receives funds through Railgun privacy protocol on Ethereum, then bridges to Polygon approximately 32 minutes before the exploit transaction.
CryptoTimes — INK Finance exploit11 May 2026
At approximately 13:41 UTC, the attacker executes exploit transaction 0xb469a24ec737be16fe41367a7b5b315c7f03b4e0ff3af50b3a2db03b3066b982, draining 140,180.18 USDT0 from INK Finance's Workspace Treasury Proxy via a whitelist bypass and a $24,982 Balancer V2 flash loan.
Polygonscan — on-chain transaction record11 May 2026
Blockaid publicly alerts the community to the exploit, identifying the victim contract, attacker address, and exploit transaction.
KuCoin News — Blockaid alert on INK Finance exploit11 May 2026
On the same day, a separate exploit drains $101,400 from Huma Finance's deprecated V1 contracts on Polygon, establishing a pattern of simultaneous attacks on aged Polygon DeFi infrastructure.
Cryptopolitan — Huma Finance Polygon exploit11 May 2026
INK Finance has not issued a formal public post-mortem, recovery plan, or protocol pause announcement as of the date of initial reporting.
Phemex News — INK Finance treasury exploitDecision Log
- slot 455369731 · hash BAa5dwbUJvUK49EwworV9fik6uRiwL64oawQwCZfkMiv
- slot 423087312 · hash ATKx8NTSx5WupUFN96cxuXTZG1Sa8hC4RoDLpAec6G87
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 14 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/30/2026, 4:52:14 AM
last updated: 10/10/2026, 6:49:37 PM
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