Summary
Minterest (formerly using the MNT token, later rebranded to MINTY) was a cross-chain DeFi lending and borrowing protocol founded by Josh Rogers and incorporated as Minterest Labs OÜ in Estonia. The protocol suffered a $1.4 million reentrancy exploit on July 14, 2024 — in a market that went live without a completed security audit — and subsequently announced the sunsetting of all operations in November 2025, explicitly stating that hack victims would receive no refund or token compensation as part of the wind-down.
Connected Entities
1 entities- + 6 more
Timeline(16 events)
2021-09-16
Minterest announces $6.5 million private fundraising round with investors including KR1, DFG, CMS, DigiStrats, FOMOcraft, Bitscale Capital, PNYX Ventures, CMT Digital, and Faculty Capital.
2021-11-01
Minterest announces planned deployment on Moonbeam, an Ethereum-compatible parachain on Polkadot.
2021-12-10
Minterest refunds all Community Allocation Event (CAE) participants, including gas fees, following a rescheduling of the event.
2022-02-01
Minterest completes comprehensive security audit with PeckShield. No critical or high-severity vulnerabilities found.
2023-01-01
Minterest updates tokenomics, giving long-term holders a 50% uplift in MINTY token proportion.
2023-09-14
Minterest announces partnership with CUBE3.AI for real-time on-chain threat monitoring and transaction blocking.
2024-04-01
Minterest updates tokenomics again and launches 'Stack or Skip' campaign for CAE participants, offering either a 20% MINTY bonus with new vesting or full refund of initial contribution.
2024-06-24
Minterest IDO concludes on EnjinStarter at a price of $2.25 per MINTY token.
2024-07-14
Attacker executes flash loan reentrancy exploit against unaudited mUSDY market on Mantle Network between 16:24-16:28 UTC+3. Approximately $1.4 million in WETH and mETH drained. Attacker wallet (0x618F768aF6291705Eb13E0B2E96600b3851911D1) was pre-funded via Tornado Cash.
2024-07-14
Minterest confirms security breach at 17:22 UTC+3, suspends supply/borrow operations at 17:27 UTC+3, and fully pauses all operations at 22:32 UTC+3.
2024-07-18
Minterest patches the reentrancy vulnerability and corrects the mUSDY exchange rate manipulation.
2024-07-24
Minterest completes return of liquidation fees to impacted users. Protocol applies 15% haircut to WETH and mETH suppliers.
2024-08-01
Minterest protocol partially reopens following patching. Offers MINTY token compensation at 25% discount to hack-affected suppliers.
2025-11-19
Minterest announces sunsetting of all operations, citing market and operational constraints. Explicitly states no refund or token compensation will be issued to hack victims, private investors, or CAE/LBP participants.
2025-12-19
Minterest UI front end for Ethereum and Mantle deployments goes offline at 23:59 UTC.
2025-12-31
Official support ends. Core infrastructure and solvency engines go offline. Smart contracts remain accessible for direct user interaction.
Decision Log
- hash: 6k4NovMtzsmRjqz9FbChy4XNkBHcpH353maPWDTQ3CiG
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:31 AM
last updated: 5/28/2026, 3:44:02 AM
avoid.net — verified advice for a post-truth world