SubQuery Network
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 38 → 65. Problems weighed by who is responsible: problems around the subject, caused by others −4, incidents the subject suffered −3.2, concerns that are not fraud −3.2; legitimacy credit long-running +10; fact-check adjustments (−12) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -4 |
| Long-running | +10 |
| Sum | 65 |
Score: 65/100 (kept between 0 and 100)
How scoring works →Summary
SubQuery Network is a Web3 data indexing protocol originally built for the Polkadot ecosystem, founded by Sam Zou and James Bayly out of New Zealand-based OnFinality. The project raised $10.8M in seed and Series A funding, launched its mainnet and SQT token in February 2024, and suffered a significant smart-contract exploit on April 12, 2026 in which a missing access-control modifier allowed an attacker to drain approximately 382 million SQT tokens (~$134,000 USD) from staker and delegator wallets across five transactions. ZachXBT flagged the entity in connection with this incident; the team published a full disclosure report and executed on-chain compensation for all affected wallets.
Connected Entities
7 entities · 60 linked investigations- Wintermute→mentioned with→ZachXBT(60%)
- Wintermute→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Bybit(70%)
- Polkadot→mentioned with→Ethereum(65%)
- SubQuery Network→mentioned with→Bybit(70%)
- SubQuery Network→mentioned with→Polkadot(80%)
- SubQuery Network→mentioned with→Ethereum(60%)
- SubQuery Network→mentioned with→Base(65%)
- SubQuery Network→mentioned with→Wintermute(60%)
- + 5 more
Timeline(11 events)
2021
SubQuery raises $1.8 million seed round led by DeFi Alliance, D1 Ventures, Hypersphere Ventures, DFG, and The LAO.
11 September 2021
SubQuery announces $9 million Series A round co-led by Arrington Capital, DCG, and Stratos Technologies.
12 April 2022
SubQuery Network passes Hacken smart contract security audit with no material findings.
22 February 2024
SQT token deposits open on Bybit exchange ahead of mainnet TGE.
23 February 2024
SubQuery mainnet launches and SQT token begins trading on Bybit at approximately $0.0144.
29 March 2024
SQT reaches all-time high price of approximately $0.0855.
31 December 2024
SQT price ends 2024 approximately 76% below its launch price, trading around $0.005.
12 April 2026
Smart contract exploit on Base network drains approximately 382 million SQT (~$134,000 USD) from staking contract, 272 individual wallets, RewardsBooster, and Treasury via missing onlyOwner access control on the Settings contract setContractAddress() function.
13 April 2026
SubQuery team identifies full attack vector, simulates exploit traces, and deploys fix restoring onlyOwner modifiers to affected contract functions.
14 April 2026
On-chain compensation distribution begins; SubQuery publishes full public disclosure and recovery plan.
15 April 2026
On-chain compensation to all 272 affected staker and delegator wallets completed.
Decision Log
- slot 457843383 · hash HtyNjJ5iARCF2CCJzTAMyBqSo9GGkd1NLn3pFKpoQ1K8
- slot 455364078 · hash J7j8wELrhre4vu2WxU13S8R2rcmMcaShSiCqnyxDgQYT
- slot 443525159 · hash BBguuM4irFPDXEAHcJfFEwRyXPkGXRqmTmoeLH5EJFEL
- slot 443525155 · hash CvajtjbLd7d1VnMLLsxiNwhNkAgRZW3iijAbxqgjHQG7
- slot 422851217 · hash 8JaTx5x63Df2ia9ZMJmRDQjMKXkZNny3aQhRspMjLSKZ
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 11 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:17 AM
last updated: 10/10/2026, 6:44:23 PM
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