MM Finance Cronos
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anchored·2ap1Cx…3APjSummary
MM Finance (also known as Mad Meerkat Finance) was the largest decentralized exchange on the Cronos blockchain. On May 4, 2022, the protocol suffered a frontend compromise in which an attacker injected a malicious router contract address, redirecting approximately $2 million in user funds to the attacker's wallet over roughly three hours. The stolen funds were laundered via Tornado Cash and routed through OKX; the team pledged reimbursement via trading fee airdrops, though full recovery of stolen assets was not confirmed. The MMF token subsequently lost approximately 99.9% of its value from its April 2022 all-time high.
Connected Entities
8 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- MM Finance Cronos→mentioned with→Tectonic / Cronos — August 2026 TONIC Price Manipulation Exploit(80%)
- Cronos Chain→mentioned with→Ethereum(70%)
- Tectonic / Cronos — August 2026 TONIC Price Manipulation Exploit→mentioned with→Ethereum(70%)
- MM Finance Cronos→mentioned with→Meerkat Finance(80%)
- MM Finance Cronos→mentioned with→Cronos Chain(80%)
- Tectonic / Cronos — August 2026 TONIC Price Manipulation Exploit→mentioned with→Cronos Chain(80%)
- MM Finance Cronos→mentioned with→ZachXBT(70%)
- Multichain→mentioned with→Ethereum(60%)
- MM Finance Cronos→mentioned with→Ethereum(65%)
- + 6 more
Timeline(9 events)
22 December 2021
CertiK completes smart contract audit of MM Finance. 35 findings identified (3 minor, 32 informational); no critical vulnerabilities flagged.
7 April 2022
MMF token reaches all-time high of approximately $1.85.
May 2022
MM Finance publishes a blog post addressing community concerns about the project structure.
4 May 2022
Frontend exploit begins at approximately 7:30 PM UTC. Attacker injects malicious router contract address, redirecting user funds for approximately three hours. Over $2 million stolen. Team takes down frontend and warns users via Discord and Twitter.
5 May 2022
MM Finance identifies stolen funds routed through Tornado Cash (743 ETH) and onward to OKX. Team issues 48-hour ultimatum to attacker demanding return of 90% of funds, threatening FBI involvement.
5 May 2022
MM Finance announces reimbursement plan: team to forfeit 45 days of trading fee revenue to compensate affected users. CoinDesk and Crypto Briefing report on the exploit.
11 May 2022
MM Finance revises compensation plan to a two-stage airdrop (63% in first airdrop, 37% in second) after generating over $1.7 million in trading fees in the days following the exploit.
31 December 2022
MMF token closes 2022 at approximately $0.01, a decline of 95.88% for the year.
May 2026
Protocol remains operational but largely dormant. TVL at approximately $1.37 million. MMF token trades at approximately $0.00009713, down 99.9% from all-time high.
Decision Log
- hash: 7zS6G7AbTk4k6C8QoRWi4Yet4M96B9WAkiSMtbpvYqjM
This investigation is cryptographically anchored to the Solana blockchain (1 event). 10 of 11 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:49 AM
last updated: 9/15/2026, 5:57:07 PM
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