Audit log

Every state-changing event for Mirror Protocol: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-21 17:13:05Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 421,244,926

   sig

   46YZcauJQL1Y…ezVsHWK5copyexplorer ↗

   hash

   HqmS6n8hq7e9…Go4kWcYmcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (9941 B) ▸

   {"actor":"system:backfill","investigation_id":"36767d63-02f3-418a-8fb6-08dfde6c9594","kind":"publish","page_slug":"mirror","published_at":"2026-05-21T17:13:05.545Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Mirror Protocol","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.gemini.com/cryptopedia/mirror-protocol-mir-token-masset-mirror-finance","type":"other","url":""},{"credibility":3,"name":"https://defiprime.com/mirror-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.gate.com/learn/articles/mirror-protocol-development-and-crisis/804","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/mirror-rekt","type":"other","url":""},{"credibility":3,"name":"https://blocksecteam.medium.com/how-the-mirror-protocol-is-exploited-33b5c1d48322","type":"other","url":""},{"credibility":3,"name":"https://therecord.media/mirror-protocol-suffers-2-million-exploit-after-90-million-stolen-in-october","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/149361/mirror-protocol-suffers-new-exploit-and-could-be-drained-in-hours","type":"other","url":""},{"credibility":3,"name":"https://crypto-radars.com/2022/05/31/a-90-million-defi-exploit-on-terra-went-unnoticed-for-seven-months/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/terra-s-mirror-protocol-warns-community-against-governance-attack","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/mirrorprotocolgovernanceattack.php","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=attempted-governance-attack-on-terras-mirror-protocol","type":"other","url":""},{"credibility":3,"name":"https://coincodecap.com/mirror-protocol-on-terra-under-a-governance-attack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2022/05/30/terras-mirror-protocol-allegedly-suffers-new-exploit","type":"other","url":""},{"credibility":3,"name":"https://therecord.media/mirror-protocol-suffers-2-million-exploit-after-90-million-stolen-in-october","type":"other","url":""},{"credibility":3,"name":"https://coingeek.com/terra-mirror-protocol-allegedly-suffered-second-exploit-and-on-verge-of-collapse-analyst-says/","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/more-bad-news-for-terra-as-fresh-allegations-emerge-about-mirror-protocol/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25262","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/102451/do-kwon-appeal-overruled-must-comply-sec-investigation-mirror-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.crowdfundinsider.com/2021/11/182857-sec-targets-asian-crypto-firm-terraform-labs-and-its-mirror-protocol-that-replicates-us-securities/","type":"other","url":""},{"credibility":3,"name":"https://news.bitcoin.com/sec-files-action-against-terraform-labs-ceo-do-kwon-regarding-mirror-protocol/","type":"other","url":""},{"credibility":3,"name":"https://blockworks.co/news/terraform-labs-and-do-kwon-ordered-to-comply-with-sec-subpoena","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.gate.com/learn/articles/mirror-protocol-development-and-crisis/804","type":"other","url":""},{"credibility":3,"name":"https://investorplace.com/2022/05/mir-crypto-plunges-50-as-the-terra-ecosystem-drags-mirror-protocol-down/","type":"other","url":""},{"credibility":3,"name":"https://coingeek.com/terra-mirror-protocol-allegedly-suffered-second-exploit-and-on-verge-of-collapse-analyst-says/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.justice.gov/usao-sdny/pr/crypto-enabled-fraudster-sentenced-orchestrating-40-billion-fraud","type":"other","url":""},{"credibility":3,"name":"https://www.bloomberg.com/news/articles/2025-12-11/do-kwon-gets-15-years-in-prison-for-40-billion-terraform-fraud","type":"other","url":""},{"credibility":3,"name":"https://www.cnn.com/2025/12/11/business/cryptocurrency-do-kwon-fraud-sentencing-intl-hnk","type":"other","url":""},{"credibility":3,"name":"https://www.upi.com/Top_News/US/2025/12/12/Do-Kwon-cryptocurrency-sentencing-Terraform/2001765541877","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.gate.com/learn/articles/mirror-protocol-development-and-crisis/804","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/mirror-protocol/","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/en/coins/mirror-protocol","type":"other","url":""}]}],"sources_used":[],"summary":"Mirror Protocol was a Terra-based DeFi platform enabling synthetic assets (mAssets) that tracked prices of US stocks. The protocol suffered a $90 million exploit in October 2021 that went undetected for seven months, a governance attack campaign in December 2021 targeting $40 million in community funds, and a second $2 million oracle exploit in May 2022. It became permanently inactive in August 2022 following the catastrophic collapse of the Terra/LUNA/UST ecosystem, which was orchestrated by its parent company Terraform Labs under Do Kwon, who was subsequently convicted of fraud and sentenced to 15 years in prison.","timeline":[{"date":"2018-01-01","event":"Do Kwon and Daniel Shin co-found Terraform Labs, the parent company of Mirror Protocol.","source":""},{"date":"2020-12-01","event":"Mirror Protocol launches on the Terra blockchain, enabling synthetic stock trading via mAssets.","source":""},{"date":"2021-05-07","event":"The SEC opens an investigation into Terraform Labs over Mirror Protocol's potential offering of unregistered securities.","source":""},{"date":"2021-06-01","event":"Mirror Protocol crosses $2 billion in total value locked (TVL), becoming a top-15 DeFi protocol.","source":""},{"date":"2021-09-17","event":"The SEC issues subpoenas to Terraform Labs and Do Kwon personally regarding Mirror Protocol.","source":""},{"date":"2021-09-20","event":"Do Kwon is served the SEC subpoena at the Messari Mainnet 2021 conference in New York City.","source":""},{"date":"2021-10-08","event":"Attacker begins exploiting the lock contract duplicate-ID vulnerability in Mirror Protocol, ultimately draining approximately $90 million over subsequent months. The exploit goes undetected.","source":""},{"date":"2021-12-24","event":"A coordinated governance attack campaign is launched against Mirror Protocol, with malicious polls (IDs 185, 198, 204, 206, 207, 208) targeting approximately $40 million from the community pool. The most prominent, Poll 211, targets 25 million MIR tokens (~$64.2 million). The attack is timed to coincide with holiday periods.","source":""},{"date":"2021-12-27","event":"Mirror Protocol team issues emergency governance warning via Poll 212, alerting the community to the fraudulent proposals. The community votes to reject all malicious proposals; no funds are stolen.","source":""},{"date":"2022-05-07","event":"UST begins losing its dollar peg, triggering the Terra/LUNA ecosystem collapse.","source":""},{"date":"2022-05-12","event":"The Terra blockchain is halted. UST falls to approximately $0.10; LUNA collapses to near zero from an all-time high of $119.51. Approximately $45 billion in market capitalization is wiped out.","source":""},{"date":"2022-05-14","event":"Mirror Protocol developers silently patch the lock contract vulnerability — the entry point for the $90 million October 2021 exploit — with no public announcement or user notification.","source":""},{"date":"2022-05-27","event":"FatManTerra publishes findings on the $90 million exploit, prompting public scrutiny of Mirror Protocol's silent patch.","source":""},{"date":"2022-05-28","event":"A second exploit begins, exploiting a LUNC oracle mispricing to drain Mirror's mBTC, mETH, mDOT, and mGLXY pools. Over $2 million is extracted.","source":""},{"date":"2022-05-30","event":"The Block and CoinDesk report on both the $90 million historical exploit and the new oracle exploit. BlockSec publicly criticizes Mirror's silent patch practice.","source":""},{"date":"2022-06-08","event":"A U.S. appeals court overrules Do Kwon's challenge to the SEC subpoenas, ordering Terraform Labs and Kwon to comply with the investigation into Mirror Protocol.","source":""},{"date":"2022-08-15","event":"Band Protocol announces it will cease providing price feeds for Terra Classic products, citing the UST collapse and Mirror Protocol team's failure to respond to queries about the protocol's future.","source":""},{"date":"2022-08-26","event":"Band Protocol formally ends price feed support. Mirror Protocol ceases all operations permanently. The protocol is effectively abandoned.","source":""},{"date":"2023-03-01","event":"Do Kwon is arrested in Montenegro while allegedly attempting to travel on forged documents.","source":""},{"date":"2024-12-31","event":"Do Kwon is extradited to the United States to face federal fraud charges.","source":""},{"date":"2025-08-01","event":"Do Kwon pleads guilty in the Southern District of New York to wire fraud and conspiracy to commit securities fraud, commodities fraud, and wire fraud.","source":""},{"date":"2025-12-11","event":"U.S. District Judge Paul A. Engelmayer sentences Do Kwon to 15 years in federal prison, describing his crimes as 'fraud on an epic, generational scale.' Kwon forfeits over $19 million.","source":""}]},"v":1}

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