Makina Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 35 → 53. Problems weighed by who is responsible: concerns that are not fraud −6.4, incidents the subject suffered −3.2, problems around the subject, caused by others −2.4. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -2.4 |
| Sum | 53 |
Score: 53/100 (kept between 0 and 100)
How scoring works →Summary
Makina Finance is a non-custodial DeFi execution engine that launched in late 2025 on Ethereum, enabling automated yield strategies via tokenized vaults called Machines. On January 20, 2026, the protocol suffered a $4.13 million oracle manipulation exploit targeting its DUSD/USDC Curve stableswap pool, despite having completed six independent security audits in the months prior. The team recovered approximately $3.65 million (89% of user losses) within one week and resumed operations on January 26, 2026, though a residual 11% shortfall remained subject to a revenue-share restitution plan.
Connected Entities
8 entities · 60 linked investigations- Makina→mentioned with→Kiln(65%)
- Makina→mentioned with→ZachXBT(70%)
- Makina→mentioned with→Ethereum(65%)
- Makina→mentioned with→Pendle(60%)
- Kiln→mentioned with→Ethereum(80%)
- Kiln→mentioned with→ZachXBT(70%)
- Makina Finance→mentioned with→Ethereum(80%)
- Makina Finance→mentioned with→Kiln(65%)
- ZachXBT→mentioned with→Ethereum(70%)
- Rocket Pool→mentioned with→Ethereum(80%)
- + 4 more
1 submission awaiting moderator review.
Timeline(11 events)
25 June 2025
Makina Finance raises $3 million in strategic funding from Hypernative Labs, Kiln, Bodhi Ventures, Cyber Fund, and other angels.
July 2025
Enigma Dark completes fuzz/invariant testing audit of Makina Core.
August 2025
SigmaPrime completes audit of Makina Core and Makina Periphery.
September 2025
ChainSecurity completes audits of Makina Core and Makina Periphery. Enigma Dark audits Makina Periphery and Machine Share Oracle.
15 October 2025
Cantina capture-the-flag security assessment ends. Out-of-scope exclusion explicitly lists oracle price manipulation via unchecked synchronous deposit — the exact vector later used in the exploit.
27 October 2025
Dialectic (first Operator on Makina) deploys DUSD into Curve pools, introducing the oracle integration vulnerability into live production.
November 2025
OtterSec completes Makina security assessment.
20 January 2026
At 03:40:35 UTC (block 24,273,362), attacker exploits MachineShareOracle via $280M flash loan to drain 1,299 ETH (~$4.13M) from the DUSD/USDC Curve pool. MEV searcher front-runs the transaction, capturing the majority of stolen funds.
20 January 2026
Makina activates security mode on all smart vaults and advises LPs to withdraw from the DUSD Curve pool. Team engages SEAL911 and security firms.
22 January 2026
MEV builder returns 920 ETH under SEAL Whitehat Safe Harbor framework (10% bounty retained). Rocket Pool validator returns 157.1 ETH. Makina posts confirmation on X.
26 January 2026
Protocol resumes full normal operations following post-exploit patch audit by ChainSecurity. 89% of users fully recovered; 11% subject to revenue-share restitution plan.
Decision Log
- slot 455367108 · hash 8LaNRa7Fcz3XQnjdcCabteVY1BLZR8bByzkLYaScQ6z2
- slot 422349726 · hash 2ESJnK2tK5NeQ5ydisPNwCBRhQGhJKAztz9tqEtBXdaP
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 14 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:13 AM
last updated: 10/10/2026, 6:47:15 PM
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