← Mirror Protocolreviewed 2026-11-02 · 11 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Mirror Protocol against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
unverifiable
2 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #2[unverifiable][awaiting moderator]in section: The $90 Million Lock Contract Exploit (October 2021 — Discovered May 2022)
“In one documented transaction, the attacker called the unlock function 437 times using position ID 43186, unlocking approximately 43.7 million USTC — vastly exceeding the actual deposited amount.”
reviewerTechnical details: 437 unlock calls with position ID 43186, ~43.7M USTC, 100,000 USTC pre-deposit, total ~$89,706,164The most likely source (BlockSec on Medium) returned 403, and rekt.news does not carry these figures. Not scored against the page. - #9[unverifiable][awaiting moderator]in section: Governance Attack Campaign (December 2021)
“The sum total of MIR tokens targeted across all malicious proposals was alleged to be approximately $40 million, representing roughly one-third of the community pool at the time.”
reviewerGovernance attack: polls 185, 198, 204, 206, 207, 208; Poll 211 targeting 25M MIR (~$64.2M); ~$40M total; no funds stolenI did not fetch the governance-attack sources within this review's budget, so the poll IDs and dollar figures remain unchecked. This is a coverage limit of the review, not a finding against the page.
partially supported
4 claimsThe cited evidence supports part of the claim but not all of it.
- #3[partially supported][awaiting moderator]in section: SEC Regulatory Action and Securities Law Concerns
“On May 7, 2021, the SEC opened an investigation into whether Terraform Labs was violating federal securities laws by allowing synthetic stocks to be minted and sold to U.S. investors without registration.”
reviewerSEC opened investigation into Terraform Labs on May 7, 2021The investigation and a May 2021 start are supported; the specific day (May 7) and the framing of 'was violating' are not directly confirmed. The SEC release says it has not concluded any violation. - #6[partially supported][awaiting moderator]in section: Terra/LUNA Ecosystem Collapse and Protocol Insolvency
“Band Protocol, which had been providing price feeds essential to Mirror's oracle system, announced on August 15, 2022 that it would cease providing price feeds for Terra Classic products, citing UST's collapse and Terraform Labs' failure to respond to queries about the protocol's future.”
reviewerBand Protocol announced Aug 15, 2022 it would stop feeds; feeds formally ended Aug 26, 2022The cited source is internally inconsistent (Aug 11 vs Aug 26) and does not give Aug 15. Dates cannot be pinned down without a primary Band announcement. Also, the timeline attributes the non-response to the Mirror team while this sentence attributes it to Terraform Labs. - #7[partially supported][awaiting moderator]in section: Current Status
“Mirror Protocol has been fully inactive since August 26, 2022, when Band Protocol terminated its price feed support.”
reviewerMirror ceased all operations permanently on August 26, 2022Inactive status is well supported; the exact date varies between Aug 11 and Aug 26 within the source and across other sources. - #11[partially supported][awaiting moderator]in the summary
“which was orchestrated by its parent company Terraform Labs under Do Kwon, who was subsequently convicted of fraud”
reviewerSummary states the Terra collapse was 'orchestrated' by Terraform Labs under Do KwonConviction is real, but the wording attributes the market collapse itself to orchestration, which overstates the charged conduct (defrauding purchasers of Terraform's crypto assets). Plea charges per press: wire fraud and conspiracy to defraud.
confirmed
5 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in section: The $90 Million Lock Contract Exploit (October 2021 — Discovered May 2022)
“The vulnerability was silently patched on May 14, 2022, with no public announcement, no disclosure to affected users, and no mention of the $90 million loss it had produced.”
reviewerLock contract exploit drained about $90 million starting around October 2021, silently patched May 14, 2022, FatManTerra published May 27, 2022Core exploit facts, patch date and disclosure date are supported by rekt.news. - #4[confirmed][no action needed]in section: SEC Regulatory Action and Securities Law Concerns
“Kwon was served at the Messari Mainnet 2021 conference in New York City on September 20, 2021.”
reviewerSEC issued subpoenas Sept 17, 2021 and Kwon was served Sept 20, 2021 at Messari MainnetMost sources give September 20, 2021; one cited article reportedly says October. The September 17 subpoena issue date was not independently verified. - #5[confirmed][no action needed]in section: SEC Regulatory Action and Securities Law Concerns
“A U.S. appeals court overruled Kwon's objections on June 8, 2022, ordering both Kwon and Terraform Labs to comply with the SEC investigation.”
reviewerAppeals court overruled Kwon's objection on June 8, 2022Date and outcome confirmed. - #8[confirmed][no action needed]in section: Second Exploit: Oracle Misconfiguration (May 2022)
“Over $2 million was extracted before administrators disabled the affected assets as collateral.”
reviewerSecond exploit of over $2 million via LUNC oracle mispricing, around May 28-30, 2022The $2M figure and timeframe are consistent with the reporting found; the detailed oracle mechanics were not fetched individually. - #10[confirmed][no action needed]in section: Do Kwon Criminal Conviction
“On December 11, 2025, U.S. District Judge Paul A. Engelmayer sentenced Kwon to 15 years in federal prison.”
reviewerDo Kwon sentenced to 15 years on December 11, 2025 by Judge Engelmayer, who rejected the government's 12-year recommendation; forfeiture over $19 millionSentence, date, judge, above-recommendation and forfeiture are consistent across Reuters/Bloomberg/Decrypt/The Block coverage. The DOJ page fetch returned no usable body.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.