Kipseli
Last changed 2026-10-27 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -12.8 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -1.6 |
| Long-running | +10 |
| Sum | 57 |
Score: 57/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-27 · 8 of 13 claims confirmed · 3 need better sources · 2 disputed
anchored·QEwDCG…a3zKSummary
Kipseli (also styled Kipseli Capital) is a proprietary trading firm and on-chain market-maker founded in early 2018, operating the Kipseli PropAMM on Base Mainnet. The protocol was listed among exploited platforms during the April 2026 wave of DeFi attacks, and the broader PropAMM category to which it belongs was the subject of a March 2026 empirical report by 0x documenting systematic quote-spoofing behavior that caused measurable trader harm. ZachXBT has flagged the entity. No public smart-contract audit or post-incident disclosure has been identified as of May 2026.
Connected Entities
9 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- Volo Vault→mentioned with→Drift(75%)
- Volo Vault→mentioned with→ZachXBT(80%)
- KelpDAO / LayerZero Bridge Exploit (April 2026) — DPRK Lazarus→mentioned with→Drift(85%)
- KelpDAO / LayerZero Bridge Exploit (April 2026) — DPRK Lazarus→mentioned with→Ethereum(80%)
- Kipseli→mentioned with→Base(70%)
- Kipseli→mentioned with→Ethereum(75%)
- Kipseli→mentioned with→Drift(80%)
- Kipseli→mentioned with→ZachXBT(70%)
- Rhea Lend→mentioned with→Ethereum(65%)
- + 9 more
Timeline(5 events)
2018
Kipseli Capital core team begins on-chain market-making operations on Ethereum Mainnet, self-described as early pioneers of the discipline.
20 March 2026
0x publishes 'PropAMM Shenanigans,' empirically documenting systematic quote-spoofing and repricing behaviors by PropAMM operators on Base Mainnet — the same architecture class as Kipseli PropAMM.
April 2026
April 2026 wave of DeFi exploits begins with the $285M Drift Protocol breach, initiating the worst month for DeFi security since February 2025.
April 2026
Kipseli listed among protocols exploited during the April 2026 DeFi attack wave alongside Giddy, with attackers described as targeting smaller platforms. Specific amount and exploit vector unconfirmed.
28 May 2026
AVOID.NET investigation opened based on ZachXBT flag and protocol logic incident designation. No public post-mortem or official incident disclosure from Kipseli identified as of this date.
Decision Log
- slot 462177977 · hash DtjJVdQMgAw8eXFmpwtpkxzEoPdLnPxe2wtSHBfVPaao
- slot 462177971 · hash 5dcu76cPdAuQMgcFHLy2GkeQi55BCUs7jhKrusmG6bxm
- slot 455367073 · hash CAoM5Xr4RmpM18BjnN5N4YEaD1bnkhzsYpZhqy933TTn
- slot 422851212 · hash HEMRM1EMzb37wSxNY8ifw81X7QUDNiXBmEuDTvqDk3yW
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 5 of 11 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:11 AM
last updated: 10/27/2026, 6:49:03 PM
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