Ola Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 52. Problems weighed by who is responsible: incidents the subject suffered −9.6, concerns that are not fraud −3.2, problems around the subject, caused by others −2.4; legitimacy credit long-running +2. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -9.6 |
| Problems around it, caused by others | -2.4 |
| Long-running | +2 |
| Sum | 52 |
Score: 52/100 (kept between 0 and 100)
How scoring works →Summary
Ola Finance is a multi-chain decentralized lending protocol offering a 'lending-as-a-service' platform that allows third parties to deploy isolated Compound-style lending pools across multiple blockchains. On March 31, 2022, the protocol's deployment on the Fuse Network was exploited via a reentrancy vulnerability in ERC677 token logic, resulting in approximately $4.67 million in stolen assets. The attacker used Tornado Cash to obscure initial funding, laundered proceeds through Ethereum and BNB Chain wallets, and was never publicly identified; a partial compensation plan was offered but fell materially short of full victim restitution.
Connected Entities
10 entities · 60 linked investigations- Ola Finance→mentioned with→Ethereum(70%)
- Ola Finance→mentioned with→Chainlink(65%)
- Ola Finance→mentioned with→Uniswap(60%)
- Cream Finance→mentioned with→Ethereum(70%)
- Cream Finance→mentioned with→Binance(70%)
- Voltage Finance→mentioned with→Ethereum(70%)
- Voltage Finance→mentioned with→Chainlink(60%)
- Fantom (Sonic Labs)→mentioned with→Binance(60%)
- Binance→mentioned with→Ethereum(65%)
- Cream Finance→mentioned with→Fantom (Sonic Labs)(60%)
- + 13 more
Timeline(7 events)
26 May 2021
Fuse Lending Network powered by Ola Finance goes live on Fuse Network, initially supporting FUSE, WETH, WBTC, and USDC.
31 March 2022
Ola Finance's Fuse Network deployment exploited via ERC677 reentrancy vulnerability. Approximately $4.67 million stolen across USDC, BUSD, fUSD, WETH, WBTC, and FUSE. Attacker's seed capital sourced via Tornado Cash; stolen funds bridged to Ethereum and BNB Chain.
31 March 2022
Ola Finance and Voltage Finance pause all borrowing on affected networks, set borrower interest rates to 0% APY, and disable RainMaker rewards. Teams send on-chain message to attacker offering 10% (~$467,000) bounty.
April 2022
CoinDesk reports revised loss figure of $4.67 million following full accounting. PeckShield confirms reentrancy vulnerability diagnosis. Voltage Finance requests Circle, Etherscan, and CEX teams blacklist attacker addresses.
April 2022
Ola Finance publishes initial post-mortem on Medium detailing attack mechanism and immediate mitigations. Protocol estimates 1-2 months for remediation and relaunch.
April 2022
Ola Finance publishes Transparency Report and compensation plan: Fuse Foundation (250K USDC + 1M FUSE over 1 year), Voltage Finance (250K USDC + 40M VOLT over 1 year), Ola Finance (400K OLA tokens + up to $200K USDC option for sign-ups by June 30, 2022).
30 June 2022
Deadline for affected users to sign up for Ola Finance's USDC compensation option at $1 per future OLA token.
Decision Log
- slot 455363884 · hash DQ9vKwYCDCpu8kXQed15TVknVmhu2HRGBr8WTCUrAJi3
- slot 422766145 · hash B9r7t5fftRW3U6zfGcXfiJe5gtaWK3yrxhifbkLGZhBx
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 5 of 12 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:50 AM
last updated: 10/10/2026, 6:44:12 PM
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