Skyward Finance
Summary
Skyward Finance was a permissionless token launchpad built on the NEAR Protocol, launched in June 2021. On November 2, 2022, a smart contract vulnerability in its treasury redemption function was exploited, resulting in the loss of approximately 1.1 million NEAR tokens (~$3.2 million USD). The exploit rendered the SKYWARD token and protocol treasury effectively worthless, and the team publicly advised users to withdraw all remaining funds and cease interacting with the platform.
Connected Entities
1 entitiesTimeline(6 events)
2021-06-24
Skyward Finance launches on NEAR Protocol mainnet following a test sale period.
2022-11-02
Attacker exploits the redeem_skyward smart contract function, draining approximately 1.1 million wNEAR (~$3.2 million USD) from the Skyward Finance treasury in a single transaction.
2022-11-02
Community member Nearscout first identifies and reports the exploit publicly.
2022-11-03
Skyward Finance team issues public statement confirming the exploit rendered 'the Treasury and the $SKYWARD token effectively worthless' and advises users to withdraw all funds and cease platform interaction.
2022-11-03
SKYWARD token price collapses approximately 90–95%. Skyward Finance becomes the first NEAR ecosystem project on the Rekt DeFi exploit leaderboard.
2022-11-03
BlockSec, Halborn, QuillAudits, and Neptune Mutual publish independent analyses identifying the input validation flaw in the redeem_skyward function.
Decision Log
- hash: HyhWiDhLNfZz8h7WAq2Pgk9dUqAiMrwwR4PrWAbLP833
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:46 AM
last updated: 5/28/2026, 4:29:19 PM
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