SIR.trading
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anchored·5sUzo5…xgc6Summary
SIR.trading (Synthetics Implemented Right) is an Ethereum-based DeFi protocol launched on February 20, 2025, offering leveraged trading without liquidation risk or volatility decay. On March 30, 2025, an attacker exploited a transient storage vulnerability in the protocol's Vault contract to drain the entire $355,000 TVL — one of the first documented real-world exploits targeting Ethereum's EIP-1153 transient storage feature introduced in the Dencun upgrade. The protocol subsequently relaunched after completing additional security audits, but no stolen funds were recovered.
Connected Entities
1 entities · 10 linked investigationsTimeline(8 events)
2021
Pseudonymous founder Xatarrer begins developing SIR.trading over approximately four years without venture capital funding, supported by approximately $70,000 from community contributors.
Rekt News2025
Egis Security completes security audit of SIR.trading, finding 3 high-severity, 2 medium-severity, and 2 low-severity issues. The transient storage slot collision vulnerability is not identified.
Rekt News / GitHub Egis-Security30 January 2025
Attacker deploys malicious ERC-20 tokens and creates a controlled Uniswap V3 liquidity pool, beginning preparation for the exploit at 6:18 UTC.
Blockscope Research20 February 2025
SIR.trading launches on Ethereum mainnet, growing to approximately $355,000–$400,000 TVL through organic growth without advertising.
Rekt News30 March 2025
Attacker exploits transient storage slot collision in the Vault contract's uniswapV3SwapCallback function, draining the entire $355,000 TVL in USDC, wBTC, and wETH. Stolen assets are immediately routed through Railgun. The exploit is detected by TenArmorAlert and Decurity.
CoinTelegraph31 March 2025
Founder Xatarrer issues on-chain plea to the attacker, offering $100,000 bounty to keep as compensation for the bug discovery and requesting the return of the remaining ~$255,000, pledging no legal action. Describes the event as 'the worst news a protocol can receive.'
Crypto.newsApril 2025
Attacker does not respond to bounty offer. Stolen funds remain in Railgun. SIR team announces intent to relaunch and begins seeking auditors willing to accept token equity in lieu of payment.
Rekt News2025
Protocol relaunches at app.sir.trading following completion of four independent security audits. No stolen funds recovered. Relaunch expands to HyperEVM and MegaETH networks in addition to Ethereum.
SIR Official DocumentationDecision Log
- hash: 6KQPD755JmpA3pqvaazrNgQ8dbiko285Gse7hT6mafc9
- hash: 78NDnCeBSg3ZsvrmJh4Gk3aFZQkVMdEQkuaD8XmqCT88
- hash: nBZ8aRNPEanGzmTKfCGfRxGEHaadug2Nj6YAY7MWaan
This investigation is cryptographically anchored to the Solana blockchain (3 events). 16 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/1/2026, 5:49:20 PM
last updated: 7/27/2026, 9:07:07 AM
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