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Panoptic V1.1

avoid.net/panoptic-v11→37/100·78% 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·wFMnDs…HZs3

Summary

Panoptic V1.1 is a permissionless, oracle-free perpetual options protocol built on Uniswap V3 liquidity positions, developed by Panoptic Labs and incubated by Advanced Blockchain AG. On August 25, 2025, a Cantina researcher disclosed a critical position-spoofing vulnerability rooted in the protocol's XOR-based fingerprinting system, placing approximately $4–5 million in user funds at risk. A coordinated whitehat rescue secured over 98% of remaining at-risk funds, and ZachXBT flagged the incident, contributing to reduced community trust in the V1.1 deployment.

Connected Entities

6 entities · 60 linked investigations
Organizations
□Ethereum64□Base68□ZachXBT82□Panoptic V1.1
Protocols
⌂Uniswap58
Tokens
♦Coinbase62
Relationships
  • Ethereum→mentioned with→Coinbase(60%)
  • Panoptic V1.1→mentioned with→Uniswap(80%)
  • Panoptic V1.1→mentioned with→Base(70%)
  • Panoptic V1.1→mentioned with→Coinbase(65%)
  • Panoptic V1.1→mentioned with→ZachXBT(65%)
  • Panoptic V1.1→mentioned with→Ethereum(80%)
  • ZachXBT→mentioned with→Ethereum(70%)
  • Uniswap→mentioned with→Ethereum(80%)
  • Coinbase→mentioned with→Base(70%)
  • Coinbase→mentioned with→ZachXBT(70%)
  • + 2 more
Also appears in
Base·68Ethereum·64Lendf.me·30Levyathan·18Jump Trading·42OpenZeppelin AI Exploit Threat Vector·15StableMagnet·2Shibarium·28Dean Daghita / CMDSS (Command Services and Support)·0Bankr·18+ 50 more

Connected Through

5 shared actors · 623 investigations

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

Have evidence about Panoptic V1.1?

Timeline(16 events)

28 April 2022

Guillaume Lambert publishes the Panoptic whitepaper on arXiv, establishing the theoretical basis for perpetual oracle-free options via Uniswap V3 LP positions.

December 2022

Panoptic closes a $4.5 million seed round led by gumi Cryptos Capital, with Uniswap Labs Ventures, Coinbase Ventures, and Jane Street participating.

November 2023

Panoptic launches its first Code4rena competitive audit.

November 2023

Panoptic closes a $7 million seed round led by Greenfield Capital, bringing total disclosed funding to $11.5 million.

22 April 2024

Code4rena April 2024 audit identifies 2 high-severity and 9 medium-severity findings, including two reports partially describing position list manipulation weaknesses.

10 June 2024

Code4rena June 2024 follow-up audit finds zero high- or medium-severity issues.

10 October 2024

Code4rena final V1.0 review finds no high or medium severity issues. Protocol prepares for mainnet launch.

7 November 2024

Cantina completes initial V1.1 protocol audit.

20 November 2024

Cantina completes final V1.1 protocol audit.

28 January 2025

Code4rena completes V1.1 protocol review with two independent wardens. No critical findings disclosed publicly.

25 August 2025

A Cantina researcher reports a critical position-spoofing vulnerability to the Panoptic team. The flaw involves XOR-based fingerprinting susceptible to polynomial-time collision attacks. Panoptic confirms feasibility within four hours and begins emergency user notifications.

26 August 2025

Approximately $2.35 million is voluntarily withdrawn by users following emergency notifications.

27 August 2025

Approximately $1.6 million remains at risk. Team continues outreach via Discord and SEAL 911.

28 August 2025

Primary whitehat rescue executed on Ethereum mainnet at block 23242436 at 5:55 PM EDT. Subsequent rescues completed on Base and Unichain. Over 98% of remaining at-risk funds secured. All recovered assets transferred to vault.panoptic.eth.

28 August 2025

Cantina researcher awarded $250,000 maximum bug bounty for responsible disclosure.

September 2025

Panoptic publishes the position-spoofing post-mortem and September newsletter detailing the incident, technical root cause, and fund recovery process.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain20 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 20 of 22 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:16 AM

last updated: 8/30/2026, 12:04:59 PM

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