Safe Dollar
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 4 → 35. Problems weighed by who is responsible: concerns that are not fraud −20, incidents the subject suffered −16, problems around the subject, caused by others −4.5. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -20 |
| Incidents it suffered (e.g. hacks) | -16 |
| Problems around it, caused by others | -4.5 |
| Sum | 25 |
Score: 35/100 (kept between 0 and 100)
How scoring works →Summary
Safe Dollar (SDO) was an algorithmic stablecoin launched on the Polygon network in June 2021 that collapsed to zero within two weeks of its initial DEX offering. The protocol suffered two separate exploits in rapid succession, with the second draining approximately $248,000 in USDC and USDT from its liquidity pools by exploiting a reward-calculation flaw that allowed unlimited SDO minting. The project was flagged as a high-risk entity by on-chain investigators and DeFi security researchers, and its stablecoin peg was never restored.
Connected Entities
5 entities · 60 linked investigations- Safe Dollar→mentioned with→ZachXBT(70%)
- Safe Dollar→mentioned with→Polygon(80%)
- Titan→mentioned with→Polygon(80%)
- Iron Finance→mentioned with→Titan(70%)
- Safe Dollar→mentioned with→Iron Finance(80%)
- Safe Dollar→mentioned with→Titan(65%)
- Titan→mentioned with→Iron Finance(80%)
- Iron Finance→mentioned with→Polygon(70%)
Connected Through
4 shared actors · 545 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □ZachXBTorganization
- □Polygonorganization
- ⌂Iron Financeprotocol
- □Titanorganizationalso in
Timeline(8 events)
14 June 2021
SafeDollar completes its Initial DEX Offering (IDO) on PolyDEX's PolyLAUNCH platform, selling out within 22 hours.
SafeDollar Medium / CryptoSlate20 June 2021
First exploit: SafeDollar's IDO vault is compromised, resulting in the theft of 9,959 SDS share tokens valued at approximately $95,000.
Decrypt / CryptoSlate22 June 2021
SafeDollar team publishes a post-mortem analysis of the first exploit, concluding that 'the SafeDollar protocol is working normally.'
SafeDollar Medium28 June 2021
Second and fatal exploit executed at 03:48:36 UTC. Attacker (0xfedc2487ed4bb740a268c565dacdd39c17be7ebd) manipulates the PLX v1 pool reward formula to mint 831 quadrillion SDO tokens, then dumps them, draining 202,230 USDC and 46,000 USDT (~$248,000) from liquidity pools. SDO price collapses to zero.
CoinDesk / SafeDollar Post-Mortem / CryptoSlate28 June 2021
RugDoc.io flags the exploit on Twitter. SafeDollar team posts on Telegram urging users to halt all SDO trading and announces a pause on all protocol activities.
CryptoSlate / BeInCrypto29 June 2021
Major crypto outlets including Decrypt, CoinDesk, Newsweek, and CryptoSlate publish coverage of the SafeDollar collapse.
NewsweekJuly 2021
SafeDollar team publishes 'Move Forward' plan outlining SDO v2 relaunch, SafeUSDC synthetic asset, and a compensation framework for affected liquidity providers and SDO holders based on a pre-exploit snapshot.
SafeDollar Medium12 July 2021
SDO v2 relaunch scheduled per the team's compensation plan. No independent verification of full compensation distribution to affected users is documented in available public sources.
SafeDollar MediumDecision Log
- slot 455361615 · hash 6Xwz5isNovBCkds4gBChCZ35LEsb6cmaJZQQEuG7HgDo
- slot 423153875 · hash Gq7ApHQyBTBS45hEicYHCTfaxxFDpvtq2yxhWXaMhrHA
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 13 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:56 AM
last updated: 10/10/2026, 6:42:10 PM
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