Audit log

Every state-changing event for Makina Finance: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-26 19:42:44Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 422,349,726

   sig

   4VafYHAka8zk…V1vik2oPcopyexplorer ↗

   hash

   2ESJnK2tK5Ne…qEtBXdaPcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (6165 B) ▸

   {"actor":"system:backfill","investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","kind":"publish","page_slug":"makina","published_at":"2026-05-26T19:42:44.439Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Makina Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2026/01/20/makina-finance-exploit-drains-1299-eth-in-major-defi-hack/","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/355132/ethereum-defi-platform-makina-hit-by-flash-loan-exploit-loses-4m-in-eth","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://medium.com/coinmonks/makinas-4m-hack-8afca700c00c","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://docs.makina.finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://x.com/makinafi/status/2014349539847573565","type":"other","url":""},{"credibility":3,"name":"https://coinheadlines.com/news/makinafi-starts-fund-recovery-process-after-exploit-here-is-how/article-26554/","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://phemex.com/news/article/makina-finance-demands-return-of-513994-usdc-from-exploit-profits-55868","type":"other","url":""},{"credibility":3,"name":"https://medium.com/coinmonks/makinas-4m-hack-8afca700c00c","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://app.makina.finance/strategy/DUSD","type":"other","url":""},{"credibility":3,"name":"https://makinafi.substack.com/p/operator-deep-dive-dialectic","type":"other","url":""},{"credibility":3,"name":"https://cyber.fund/content/makina-the-defi-execution-engine","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.cmointern.com/2025/06/makina-finance-raises-3m-to-power.html?m=1","type":"other","url":""},{"credibility":3,"name":"https://www.cypherhunter.com/en/e/makina-finance-raised-funding-2025-06-25/","type":"other","url":""},{"credibility":3,"name":"https://crypto-fundraising.info/projects/makina/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://coinalertnews.com/news/2026/01/20/defi-protocol-makinafi-4m-exploit","type":"other","url":""},{"credibility":3,"name":"https://www.ainvest.com/news/rising-risks-defi-makina-finance-hack-implications-crypto-security-2601/","type":"other","url":""}]}],"sources_used":[],"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.","timeline":[{"date":"2025-06-25","event":"Makina Finance raises $3 million in strategic funding from Hypernative Labs, Kiln, Bodhi Ventures, Cyber Fund, and other angels.","source":""},{"date":"2025-07-01","event":"Enigma Dark completes fuzz/invariant testing audit of Makina Core.","source":""},{"date":"2025-08-01","event":"SigmaPrime completes audit of Makina Core and Makina Periphery.","source":""},{"date":"2025-09-01","event":"ChainSecurity completes audits of Makina Core and Makina Periphery. Enigma Dark audits Makina Periphery and Machine Share Oracle.","source":""},{"date":"2025-10-15","event":"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.","source":""},{"date":"2025-10-27","event":"Dialectic (first Operator on Makina) deploys DUSD into Curve pools, introducing the oracle integration vulnerability into live production.","source":""},{"date":"2025-11-01","event":"OtterSec completes Makina security assessment.","source":""},{"date":"2026-01-20","event":"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.","source":""},{"date":"2026-01-20","event":"Makina activates security mode on all smart vaults and advises LPs to withdraw from the DUSD Curve pool. Team engages SEAL911 and security firms.","source":""},{"date":"2026-01-22","event":"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.","source":""},{"date":"2026-01-26","event":"Protocol resumes full normal operations following post-exploit patch audit by ChainSecurity. 89% of users fully recovered; 11% subject to revenue-share restitution plan.","source":""}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-10 18:47:15Z
   Score: 35 → 53 (+18)
   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.
   anchoranchored

   chain

   ●mainnet-betaslot 455,367,108

   sig

   Sao3mieuwm8c…UzxAhfyLcopyexplorer ↗

   hash

   8LaNRa7Fcz3X…YaScQ6z2copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (602 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:47:15.718Z","decision":"rescore","investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","new_score":53,"page_slug":"makina","prev_score":35,"reason":"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.","score_delta":18,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3acceptby agent:avoid-moderatoranalyzer

   2026-10-16 02:28:48Z
   Score: 53 → 52 (-1)
   CertiK confirms a $4.13M (1,299 ETH) flash-loan attack manipulating the share price used as an oracle reference on Makina's DUSD/USDC Curve pool on January 20, 2026, matching the submission's own wording.
   Source:https://www.certik.com/resources/blog/makina-incident-analysis

   Wayback:archived snapshot2026-09-21 05:08:10Z
   anchoranchored

   chain

   ●mainnet-betaslot 457,470,755

   sig

   ospWWVi2xetx…ZBpEZyo9copyexplorer ↗

   hash

   G6J1PXt5guZV…oUgH2CVjcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (668 B) ▸

   {"actor":"agent:avoid-moderator","decided_at":"2026-10-16T02:28:47.968Z","decision":"accept","investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","new_score":52,"page_slug":"makina","prev_score":53,"reason":"CertiK confirms a $4.13M (1,299 ETH) flash-loan attack manipulating the share price used as an oracle reference on Makina's DUSD/USDC Curve pool on January 20, 2026, matching the submission's own wording.","score_delta":-1,"sequence_num":3,"submission_content_hash":"3d74e61ed654ebfb8aeebe391f9e25d309624bb63ed257307e46c7d907a2d2dd","submission_id":"64319e5c-dc41-4e11-a8c9-666bf97b99dc","submission_kind":"url","submission_valence":"incriminating","v":1}

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4. #4reviewby reviewerreviewer

   2026-10-27 19:24:25Z
   Score: 52 → 52 (no score change)
   The core incident narrative (exploit date, about 1,299 ETH / $4.13M, 280M USDC flash loans, six audits, the Cantina exclusion, v1.1 hardening, KYC terms) matches Rekt, Cryptopolitan and the official reactivation post. Two issues stand out. The 1,023 ETH figure for the 0xbed2 address differs from Rekt's 1,062 ETH. The headline $3.65M recovered / 89% / restitution plan claim, also in the summary, is not supported by any source read. Subject appears to be operating; no critical omissions found.
   anchoranchored

   chain

   ●mainnet-betaslot 462,188,048

   sig

   2xXwJA4SiKTa…BNimqqEycopyexplorer ↗

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   C9R9jSNywZ87…jCjnP59hcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1339 B) ▸

   {"actor":"reviewer","artifact_identity":"b8c141856861dc731b4f42a1bd2e8c55","blocked_count":1,"decided_at":"2026-10-27T19:24:25.118Z","decision":"review","disputed_pct":0.1,"findings_hash":"Gnb6C7sc3gQCr4wNDhJ627SPjfKktPqdJTnSYoTkZGzx","investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":52,"page_content_hash":"2f9a7635dce796d0b47258dea232a5005c5e97f82e887d78b95c258e9dbaf976","page_slug":"makina","prev_score":52,"reason":"The core incident narrative (exploit date, about 1,299 ETH / $4.13M, 280M USDC flash loans, six audits, the Cantina exclusion, v1.1 hardening, KYC terms) matches Rekt, Cryptopolitan and the official reactivation post. Two issues stand out. The 1,023 ETH figure for the 0xbed2 address differs from Rekt's 1,062 ETH. The headline $3.65M recovered / 89% / restitution plan claim, also in the summary, is not supported by any source read. Subject appears to be operating; no critical omissions found.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":10,"sequence_num":4,"subject_status":"operating","subject_status_contradicts_page":false,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5review reviseby judgejudge

   2026-10-27 19:24:25Z
   Score: 52 → 52 (no score change)
   Of 11 claim findings, one was excluded because its source blocked the reviewer, leaving 10 scored. One of those (claim_findings[4]) could not be verified, which puts the disputed share at 10%, on the line between the approve and minor-issues bands. The core incident account (date, 1,299 ETH / $4.13M, flash loans, six audits, the Cantina exclusion, v1.1 upgrade) was confirmed, but the claim that over $3.65M (about 89%) was recovered and distributed, which also appears in the page summary, is not supported by any source the reviewer read, and the reviewer rated that coverage gap high priority. A smaller discrepancy (claim_findings[3]) gives 1,023 ETH where Rekt says 1,062 ETH. The penalty is kept small because the reviewer's confidence is moderate, no omissions were found, and the subject appears to still be operating.
   anchoranchored

   chain

   ●mainnet-betaslot 462,188,054

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   2dXkNgnKZJTh…KwaD51aLcopyexplorer ↗

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   F2erkw48GiZb…JHemYnBmcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1502 B) ▸

   {"actor":"judge","artifact_identity":"b8c141856861dc731b4f42a1bd2e8c55","band_override":null,"blocked_count":1,"decided_at":"2026-10-27T19:24:25.118Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.1,"investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":52,"page_slug":"makina","prev_score":52,"reason":"Of 11 claim findings, one was excluded because its source blocked the reviewer, leaving 10 scored. One of those (claim_findings[4]) could not be verified, which puts the disputed share at 10%, on the line between the approve and minor-issues bands. The core incident account (date, 1,299 ETH / $4.13M, flash loans, six audits, the Cantina exclusion, v1.1 upgrade) was confirmed, but the claim that over $3.65M (about 89%) was recovered and distributed, which also appears in the page summary, is not supported by any source the reviewer read, and the reviewer rated that coverage gap high priority. A smaller discrepancy (claim_findings[3]) gives 1,023 ETH where Rekt says 1,062 ETH. The penalty is kept small because the reviewer's confidence is moderate, no omissions were found, and the subject appears to still be operating.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":10,"sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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