Audit log

Every state-changing event for Pando Rings: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-19 20:59:33Z
   Score: ? → ? (no score change)
   anchoranchored

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   ●mainnet-betaslot 420,846,219

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   2Zm2zDyesTMv…TuRG4AiKcopyexplorer ↗

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   FPvpt8Ms73Wo…MHthAMxScopysha256 → base58

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   canonical bytes (5831 B) ▸

   {"actor":"system:backfill","investigation_id":"61bd9389-c198-41d1-9503-211371ac21d4","kind":"publish","page_slug":"pando-rings","published_at":"2026-05-19T20:59:33.896Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Pando Rings","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://pando.im/rings/"},{"credibility":3,"name":"","type":"other","url":"https://github.com/fox-one/pando"},{"credibility":3,"name":"","type":"other","url":"https://leastauthority.com/blog/audits/audit-of-compound-pando-for-fox-one/"},{"credibility":3,"name":"","type":"other","url":"https://docs.pando.im/docs/security/mtg/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2022/2022-11-06-alert-to-pando-community-hack-of-pando-rings/"},{"credibility":3,"name":"","type":"other","url":"https://immunebytes.com/blog/pando-rings-hack-nov-5-2022-detailed-analysis/"},{"credibility":3,"name":"","type":"other","url":"https://www.web3isgoinggreat.com/?id=pando-exploited-for-20-million"},{"credibility":3,"name":"","type":"other","url":"https://x.com/pando_im/status/1589113232899575809"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2022/2022-11-06-alert-to-pando-community-hack-of-pando-rings/"},{"credibility":3,"name":"","type":"other","url":"https://immunebytes.com/blog/pando-rings-hack-nov-5-2022-detailed-analysis/"},{"credibility":3,"name":"","type":"other","url":"https://x.com/pando_im/status/1589113232899575809"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://github.com/fox-one/pando"},{"credibility":3,"name":"","type":"other","url":"https://leastauthority.com/blog/audits/audit-of-compound-pando-for-fox-one/"},{"credibility":3,"name":"","type":"other","url":"https://docs.pando.im/docs/security/mtg/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2022/2022-11-06-alert-to-pando-community-hack-of-pando-rings/"},{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2023/2023-10-24-rings-and-leaf-resumes-collateral-redemption-and-withdrawal/"},{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2023/2023-12-18-further-service-restoration-of-pando-leaf/"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-mixin-network-hack-september-2023"},{"credibility":3,"name":"","type":"other","url":"https://defillama.com/protocol/pando-rings"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://pando.im/news/2022/2022-11-06-alert-to-pando-community-hack-of-pando-rings/"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-mixin-network-hack-september-2023"},{"credibility":3,"name":"","type":"other","url":"https://defillama.com/protocol/pando-rings"},{"credibility":3,"name":"","type":"other","url":"https://immunebytes.com/blog/pando-rings-hack-nov-5-2022-detailed-analysis/"}]}],"sources_used":[],"summary":"Pando Rings is an algorithmic lending and borrowing protocol built on the Mixin Network by Fox One, modeled on Compound Finance. On November 5, 2022, an attacker exploited a price oracle vulnerability tied to the sBTC-WBTC LP token on 4swap to drain approximately $21.9 million in ETH, BTC, and EOS from the protocol; an additional ~$50 million remained frozen in the attacker's wallets. The protocol subsequently suffered further losses in the September 2023 Mixin Network infrastructure breach, and as of late 2023 remained in a limited operational state with interest accrual and liquidations suspended.","timeline":[{"date":"2021-08-04","event":"Pando Seed (PS) launched with backing from BigONE, Exin, FOX, Poolin, and the Mixin team, formalizing the multi-stakeholder MTG governance structure.","source":""},{"date":"2021-10-20","event":"Least Authority completes security audit of Pando Rings (then called Compound on Mixin) and Pando Leaf on behalf of Fox One.","source":""},{"date":"2022-11-05","event":"Attacker exploits the Pando Rings price oracle by manipulating the sBTC-WBTC LP token price on 4swap. Approximately $70 million in theft attempted; $21,877,098.03 in ETH, BTC, and EOS successfully transferred out before intervention. TVL drops ~44%.","source":""},{"date":"2022-11-06","event":"Pando publicly discloses the hack, halts all protocol services, engages SlowMist for tracing, contacts law enforcement, and pledges full reimbursement to affected users. Approximately $50 million in funds frozen in attacker wallets with Mixin Network assistance. ~$2.36 million in EOS frozen.","source":""},{"date":"2022-11-06","event":"Pando posts public ETH refund address (0xfB42824eda8b29873839e6d89FEc2857c1a4E2dF) seeking negotiated return of stolen funds.","source":""},{"date":"2023-09-23","event":"Mixin Network suffers a separate $200 million infrastructure breach via its Google Cloud database. Pando users suffer additional losses: USDT (ERC20) down ~90%, ETH down ~70%, BTC down ~10%, BOX down ~7.3%.","source":""},{"date":"2023-10-17","event":"Pando Swap (4swap) resumes liquidity management functions.","source":""},{"date":"2023-10-24","event":"Pando Rings and Pando Leaf resume limited collateral redemption and debt repayment. Interest accrual and liquidations remain paused.","source":""},{"date":"2023-12-18","event":"Pando announces further service restoration for Pando Leaf on the legacy Mixin Network. Full restoration contingent on new Mixin Mainnet launch.","source":""}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-10 18:48:48Z
   Score: 18 → 55 (+37)
   Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 55. 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 −1.6; legitimacy credit long-running +4.
   anchoranchored

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   ●mainnet-betaslot 455,368,960

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   4N3SeM3ikKdQ…FDFRq16kcopyexplorer ↗

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   J1G7hoKrEdRC…h2JqqRrZcopysha256 → base58

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   canonical bytes (642 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:48:48.408Z","decision":"rescore","investigation_id":"61bd9389-c198-41d1-9503-211371ac21d4","new_score":55,"page_slug":"pando-rings","prev_score":18,"reason":"Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 55. 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 −1.6; legitimacy credit long-running +4.","score_delta":37,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3reviewby reviewerreviewer

   2026-11-02 00:47:39Z
   Score: 55 → 55 (no score change)
   The core exploit facts (amounts, frozen funds, SlowMist, reimbursement pledge) and the October 2023 resumption details match Pando's own posts. Problems found: EOS described as recovered where the source says frozen, a refund address not found in the primary alert, and 'current' status and TVL wording that is stale. Many addresses and the TVL figures were not verified. The subject's present status could not be determined.
   anchoranchored

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   ●mainnet-betaslot 464,299,163

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   5mXGWomKfkTZ…ifGUwvzbcopyexplorer ↗

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   3MSBC2ePJVij…vnu5rfgEcopysha256 → base58

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   canonical bytes (1270 B) ▸

   {"actor":"reviewer","artifact_identity":"49aa1a037cce276606db37b860461055","blocked_count":1,"decided_at":"2026-11-02T00:47:39.260Z","decision":"review","disputed_pct":0.2,"findings_hash":"7ptTdZCt9wbQcMxnQFp7VSa67Y8t64By47Py3DBXZLC8","investigation_id":"61bd9389-c198-41d1-9503-211371ac21d4","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":55,"page_content_hash":"d86dce7c9395b88b40963364e300af30683f552a005e2a0ae5821fdb8a401cb1","page_slug":"pando-rings","prev_score":55,"reason":"The core exploit facts (amounts, frozen funds, SlowMist, reimbursement pledge) and the October 2023 resumption details match Pando's own posts. Problems found: EOS described as recovered where the source says frozen, a refund address not found in the primary alert, and 'current' status and TVL wording that is stale. Many addresses and the TVL figures were not verified. The subject's present status could not be determined.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":5,"sequence_num":3,"subject_status":"unknown","subject_status_contradicts_page":false,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4review reviseby judgejudge

   2026-11-02 00:47:39Z
   Score: 55 → 55 (no score change)
   Of 6 claim findings, one was excluded because its source (DefiLlama) blocked the reviewer, leaving 5. One of those (claim_findings[0], the refund address) could not be found in the primary alert, giving 20%, which is the minor-issues band. The core exploit figures and the October 2023 resumption details are confirmed against Pando's own posts (claim_findings[2], [3]). The page says EOS was 'recovered' where the source says 'frozen' (claim_findings[1]), and describes the protocol's status and TVL as 'current' when the latest confirmed information is from December 2023. The reviewer's confidence is low (0.45) and it flagged a high-priority gap on post-2023 status, so the penalty stays at the lower end of the band.
   anchoranchored

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   ●mainnet-betaslot 464,299,168

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   2UwikedVpcNC…uRU1aqw3copyexplorer ↗

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   E5MXG1vGwwGP…b2JB9HW7copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1399 B) ▸

   {"actor":"judge","artifact_identity":"49aa1a037cce276606db37b860461055","band_override":null,"blocked_count":1,"decided_at":"2026-11-02T00:47:39.260Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.2,"investigation_id":"61bd9389-c198-41d1-9503-211371ac21d4","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":55,"page_slug":"pando-rings","prev_score":55,"reason":"Of 6 claim findings, one was excluded because its source (DefiLlama) blocked the reviewer, leaving 5. One of those (claim_findings[0], the refund address) could not be found in the primary alert, giving 20%, which is the minor-issues band. The core exploit figures and the October 2023 resumption details are confirmed against Pando's own posts (claim_findings[2], [3]). The page says EOS was 'recovered' where the source says 'frozen' (claim_findings[1]), and describes the protocol's status and TVL as 'current' when the latest confirmed information is from December 2023. The reviewer's confidence is low (0.45) and it flagged a high-priority gap on post-2023 status, so the penalty stays at the lower end of the band.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"scored_claims":5,"sequence_num":4,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5rescoreby systemsystem

   2026-11-02 00:47:40Z
   Score: 55 → 58 (+3)
   Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 55 → 58. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +4; 1 section(s) set aside until a failed fact-check is resolved.
   anchoranchored

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   ●mainnet-betaslot 464,299,172

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   2nnuaoLQyw7v…wswh3jETcopyexplorer ↗

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   Gf5Re3kJWiz2…hJDQnZVfcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (752 B) ▸

   {"actor":"system","decided_at":"2026-11-02T00:47:39.260Z","decision":"rescore","investigation_id":"61bd9389-c198-41d1-9503-211371ac21d4","new_score":58,"page_slug":"pando-rings","prev_score":55,"reason":"Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 55 → 58. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +4; 1 section(s) set aside until a failed fact-check is resolved.","score_delta":3,"score_model":"v2","sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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