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Spartan Protocol

avoid.net/spartan-protocol→28/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·4d5t3S…kPiS

Summary

Spartan Protocol is a BSC-based decentralized liquidity protocol offering token swapping and synthetic asset generation via a liquidity-sensitive AMM. On May 2, 2021, a flash loan exploit targeting a flaw in the protocol's liquidity share calculation resulted in the loss of approximately $30 million in user funds, none of which were verifiably recovered. The protocol relaunched as V2 in October 2021 but has seen drastically reduced activity and a near-total collapse in token value.

Connected Entities

1 entities
Protocols
⌂Spartan Protocol
Relationships

    Connected Through

    1 shared actor · 1 investigation

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

    Have evidence about Spartan Protocol?

    Timeline(9 events)

    2020

    Spartan Protocol V1 launches on Binance Smart Chain with a Proof-of-Burn token distribution model; no founder or treasury tokens allocated.

    SpartanProtocol Medium

    October 2020

    CertiK completes a security audit of Spartan Protocol's smart contracts prior to launch. The critical liquidity share calculation vulnerability is not identified.

    SpartanProtocol Medium / CertiK

    2 May 2021

    Attacker exploits Spartan Protocol's SPARTA/WBNB liquidity pool using a 100,000 WBNB flash loan from PancakeSwap, draining approximately $30 million by manipulating the calcLiquidityShare() function to inflate the pool's reported balance before burning LP tokens.

    CoinDesk

    2 May 2021

    Spartan Protocol team posts official acknowledgment of the exploit on Medium and Twitter; states it is in communication with Binance to trace the BNB used by the attacker.

    SpartanProtocol Medium

    2 May 2021

    PeckShield publishes a root cause analysis of the Spartan Protocol exploit, identifying the calcLiquidityShare() current-balance-query flaw.

    PeckShield Medium

    3 May 2021

    Amber Group contacts the Spartan Protocol team with a proof-of-concept for a second exploit vector. The team patches the Utils contract within 19 minutes.

    Amber Group Medium

    May 2021

    Spartan Protocol publishes a rebuilding plan: new SPARTA token with 1:1 bridge, snapshot at block 7048833, approximately 20 million SPARTA in LP compensation, and a Code4rena bounty for V2 contract security.

    SpartanProtocol Medium

    5 October 2021

    Spartan Protocol V2 launches on BNB Chain mainnet with four initial pools entering a 7-day initialization phase.

    Smart Liquidity Research

    May 2026

    SPARTA token trades at approximately $0.0002 with a market cap of roughly $15,000 and 24-hour volume below $200; protocol is technically active but has negligible market activity.

    CoinGecko
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain10 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 10 of 14 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/31/2026, 7:00:03 AM

    last updated: 7/26/2026, 4:53:38 AM

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