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Moby Trade

avoid.net/moby→38/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·2tAkwK…6saZ

Summary

Moby Trade (moby.trade) is an on-chain options protocol built on Arbitrum and Berachain, launched in 2024 and backed by an Arbitrum Foundation grant. On January 8, 2025, the protocol suffered a critical security breach when a private key controlling proxy admin contracts was compromised, resulting in approximately $2.5 million in user funds being drained; roughly $1.5 million was subsequently recovered through an intervention by the SEAL911 security team. The protocol resumed operations after the incident and expanded to Berachain mainnet in February 2025, but the unrecovered ~$1 million in ETH and WBTC was routed through privacy mixers including Railgun and Tornado Cash, leaving those funds effectively unrecoverable.

Connected Entities

5 entities · 60 linked investigations
Organizations
□Railgun40□Moby Trade□Arbitrum52□Moby□OKX44
Relationships
  • Moby Trade→mentioned with→Railgun(70%)
  • Moby Trade→mentioned with→OKX(60%)
  • Moby Trade→mentioned with→Arbitrum(80%)
  • Railgun→mentioned with→Arbitrum(65%)
Also appears in
Railgun·40Arbitrum·52OKX·44Shibarium·28Bunni Protocol·28Aurory·26Rain Protocol (RAIN Token)·12Cascade Protocol·18Boop (boop.fun)·28HQI Exchange·2+ 50 more

Connected Through

3 shared actors · 263 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Moby Trade?

Timeline(10 events)

23 January 2024

Moby receives Arbitrum Foundation grant, becoming the first on-chain options protocol to receive such a grant prior to mainnet launch.

8 April 2024

Moby Trade launches on Arbitrum mainnet.

27 September 2024

Attacker's funding address withdraws 0.9706 ETH from Tornado Cash, later identified as pre-attack infrastructure preparation.

8 January 2025

Private key compromise: attacker tests exploit on Arbitrum Sepolia at 11:56 UTC, executes malicious contract upgrade on mainnet at 12:53 UTC, and drains S_VAULT and M_VAULT between 15:24 and 16:48 UTC, stealing approximately $2.47 million in wETH, wBTC, and USDC.

8 January 2025

SEAL911 and MEV researcher Tony Ke recover approximately $1.47 million USDC by exploiting an unprotected upgrade function in the attacker's own malicious contract, finishing 30 seconds behind the attacker.

8 January 2025

Remaining stolen ETH and WBTC begin dispersal across 35+ wallet addresses; 9.5634 ETH routed through Railgun privacy protocol.

10 January 2025

Moby Trade publishes incident report; users urged to revoke token approvals. Protocol operations suspended.

13 January 2025

Target date for initial compensation payments to affected options holders.

15 January 2025

Protocol operations resume with enhanced security measures including key separation and multi-step verification.

17 February 2025

Moby Trade expands to Berachain mainnet, integrating with Berachain's Proof of Liquidity mechanism. Moby is selected for Berachain's Request for Application program.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain7 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 7 of 9 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:26 AM

last updated: 8/30/2026, 12:05:01 PM

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