Origin Protocol
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 60. Problems weighed by who is responsible: concerns that are not fraud −12.4, incidents the subject suffered −10, problems around the subject, caused by others −2.6; legitimacy credit long-running +10; fact-check adjustments (−10) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -12.4 |
| Incidents it suffered (e.g. hacks) | -10 |
| Problems around it, caused by others | -2.6 |
| Long-running | +10 |
| Sum | 50 |
Score: 60/100 (kept between 0 and 100)
How scoring works →Summary
Origin Protocol is a San Francisco-based DeFi and NFT platform founded in 2017 by Josh Fraser and Matthew Liu, best known for its yield-bearing stablecoin Origin Dollar (OUSD) and Origin Ether (OETH). In November 2020, before completing any security audit, OUSD was exploited via a reentrancy flash-loan attack resulting in approximately $7.7 million in losses including over $1 million from the team's own treasury. The protocol subsequently completed multiple audits, compensated affected users, and relaunched; it has continued operating with expanded DeFi yield products through 2025, though the OGN token trades at a fraction of its 2021 all-time high.
Connected Entities
5 entities · 60 linked investigations- Origin Protocol→mentioned with→Ethereum(70%)
- Origin Protocol→mentioned with→Uniswap(60%)
- Origin Protocol→mentioned with→SushiSwap(60%)
- Origin Protocol→mentioned with→Base(70%)
- SushiSwap→mentioned with→Ethereum(60%)
- SushiSwap→mentioned with→Uniswap(70%)
- Uniswap→mentioned with→Ethereum(80%)
- Uniswap→mentioned with→SushiSwap(60%)
- Base→mentioned with→Ethereum(80%)
Timeline(13 events)
2017
Origin Protocol founded in San Francisco by Josh Fraser and Matthew Liu.
18 June 2018
Origin Protocol conducts public ICO on CoinList, raising $6.6 million at $0.1364 per OGN token.
September 2020
Origin Dollar (OUSD) yield-bearing stablecoin launches on Ethereum mainnet without a completed security audit.
17 November 2020
OUSD exploited via reentrancy flash-loan attack; approximately $7.7 million (11,804 ETH and 2,249,821 DAI) stolen. OUSD price collapses 85% to ~$0.14. Attacker launders funds via Tornado.cash and renBTC.
17 November 2020
Origin co-founders disclose team and treasury lost over $1 million in the exploit. Trail of Bits audit was in progress but not yet completed at time of attack.
December 2020
Trail of Bits completes OUSD audit, identifying the critical reentrancy vulnerability and several minor issues. Solidified conducts additional audit of full system.
December 2020
Origin Protocol announces detailed compensation plan: full OUSD reimbursement for smaller depositors; 25% OUSD + 75% locked OGN for larger depositors, with 25% annual interest.
6 January 2021
Origin Protocol relaunches OUSD stablecoin with reentrancy guards and post-exploit security improvements following Trail of Bits and Solidified audits.
20 January 2021
Origin opens compensation claims portal for the 700+ affected OUSD depositors. 90-day claim window set to close April 20, 2021.
8 April 2021
OGN token reaches all-time high of approximately $3.39.
May 2023
Origin Ether (OETH) launches, using ~95% of OUSD's audited codebase to generate yield on ETH via liquid staking.
July 2024
Super OETH launches on Base blockchain, achieving top-10 TVL position on the network. Origin distributes over $6.4 million in yield to product users in 2024.
August 2025
Origin launches Origin Vault in partnership with Levva, a diversified ETH yield strategy targeting up to ~23% APY.
Decision Log
- slot 455363903 · hash 4vjNcVSG74aF43RY6N1RdC7RwUk91Nu5KfmVCtPNoBuj
- slot 454774817 · hash 6UMWTLWUvgRTaTCASWWcaLPZLeHTzvvTvcBrChnH8BwD
- slot 443511623 · hash 9rvuozK8aucn2VfcCxTo2isnKGARvYA5fFUAt6LCC75N
- slot 443511617 · hash EWwd45KY6rmb1vjNELsuNYnqfXfjztPjUg6p67j6Bv4b
- slot 422777527 · hash MnjjitXyMSXeJ31QjajEsoB57ti51e7hCqHkXCx7jkS
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 16 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:55:00 AM
last updated: 10/10/2026, 6:44:16 PM
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