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Peapods Finance

avoid.net/peapods-finance→42/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·4yYoY7…ky7m

Summary

Peapods Finance is a permissionless DeFi protocol on Ethereum and multiple EVM chains that pioneered a 'Volatility Farming' yield mechanism using asset-backed Pods and Leveraged Volatility Farming (LVF). The protocol has suffered three distinct security incidents since its December 2023 launch, including a $231K reentrancy exploit, a slippage manipulation attack, and a $200K oracle price manipulation attack in July 2025. On-chain investigator ZachXBT identified that the individual behind the initial 2023 'white hat' exploit had dumped a portion of stolen funds before returning the remainder, raising questions about the altruistic framing of that recovery.

Connected Entities

1 entities
Protocols
⌂Peapods Finance
Relationships
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    Timeline(9 events)

    2023-12-11

    PEAS token launches on Ethereum via fair-launch model; 88% of supply deployed to Uniswap V3 PEAS/DAI liquidity pools, 12% distributed to team fully vested at TGE.

    2023-12-13

    Reentrancy exploit on WeightedIndex contract drains $231,192 (104.47 ETH) in PEAS tokens. Exploiter later identified by ZachXBT as likely axxe.eth via timing analysis linking the address to FixedFloat transactions.

    2023-12-14

    Peapods Finance announces ~90% of stolen funds returned; characterizes incident as 'white hat hack.' ZachXBT publishes on-chain evidence that the exploiter had dumped a portion of stolen funds through FixedFloat before returning the majority.

    2023-12-15

    Alleged exploiter @0xaxxe tweets that white hat fee was returned to the Peapods team.

    2024-01-11

    SourceHat audit of Peapods Finance finalizes. All identified high- and low-severity findings reported as resolved. Protocol receives overall 'PASS' rating.

    2024-01-26

    PEAS token reaches all-time high of approximately $11.21–$11.74, implying a peak market capitalization of approximately $110–$117 million.

    2025-02-08

    Second exploit: slippage manipulation attack on depositFromPairedLpToken function in legacy Pod code drains approximately $3,500. Peapods team states affected Pod will be reimbursed; notes the vulnerability was in a deprecated version.

    2025-02-15

    Peapods Finance announces conclusion of Sherlock audit contest for Leveraged Volatility Farming upgrade; 84 independent auditors participated. Contest prize pool was 120,000 USDC.

    2025-07-08

    Third exploit: oracle price manipulation attack on WETH/aspLONGsUSDe Pod drains approximately 78 ETH ($207,000). Attacker routes funds through ChangeNow and FixedFloat. Second attack attempt is front-run by MEV bot Yoink. Multiple security firms including SlowMist, CertiK, PeckShield, and TenArmor flag the incident. Peapods team attributes breach to 'bad oracle configuration' in a user-created Pod.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:22 AM

    last updated: 5/29/2026, 5:31:39 PM

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