Audit log

Every state-changing event for SushiSwap: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-27 20:30:13Z
   Score: ? → ? (no score change)
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   {"actor":"system:backfill","investigation_id":"df79decd-dab0-46e7-a234-b7db05d89ce2","kind":"publish","page_slug":"sushiswap","published_at":"2026-05-27T20:30:13.210Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"SushiSwap","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.gemini.com/cryptopedia/sushiswap-uniswap-vampire-attack","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/sushiswap","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/education/defi/what-is-sushiswap","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2020/09/11/i-fked-up-sushiswap-creator-chef-nomi-returns-14m-dev-fund","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/40976/founder-of-sushiswap-defi-protocol-cashes-out","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/41547/sushiswap-chef-nomi-gives-back-14-million-ethereum","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/chef-nomi-has-returned-all-funds-back-to-the-sushiswap-community","type":"other","url":""},{"credibility":3,"name":"https://modernconsensus.com/adblock/sushiswap-founder-returns-millions-apologizes-for-exit-scam/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptoticker.io/en/sushiswap-founder-gives-the-project-control-to-ftx-ceo-sam-bankman-fried/","type":"other","url":""},{"credibility":3,"name":"https://news.bitcoin.com/defis-raw-deal-sushiswap-creator-transfers-multi-sig-control-to-ftx-ceo/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/ftx-ceo-sushiswap-probably-wasnt-a-long-planned-heist","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://dailycoin.com/sushiswap-sushi-ceo-jared-grey-denies-scam-and-bestiality-allegations-in-detailed-response/","type":"other","url":""},{"credibility":3,"name":"https://blockworks.co/news/sushiswap-head-chef-hit-by-controversy-in-first-week","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/sushiswap-grey-rejects-accusations","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2022/10/11/sushiswap-new-ceo-accused-of-scamming-and-other-crimes/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://decrypt.co/124133/sushiswap-dao-subpoena-sec-legal-defense-fund","type":"other","url":""},{"credibility":3,"name":"https://blockworks.co/news/sushiswap-served-by-sec","type":"other","url":""},{"credibility":3,"name":"https://ambcrypto.com/breaking-sushiswap-and-its-ceo-served-with-subpoena-by-sec/","type":"other","url":""},{"credibility":3,"name":"https://www.unlock-bc.com/99072/sushiswap-faces-sec-subpoena-considers-legal-defense-fund-for-dao/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theblock.co/post/225473/sushiswap-hack","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/discover/sushi-hack-explained/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/sushiswap-approval-bug-leads-to-3-3-million-exploit","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/125799/sushiswap-smart-contract-bug-exploited-in-3-3-million-theft","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=0xsifu-loses-more-than-2-7-million-to-sushiswap-hack","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/225839/sushiswap-hack-claims","type":"other","url":""},{"credibility":3,"name":"https://blockworks.com/news/sushiswap-funds-recovered-hackers-have-more","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/sushiswap-chief-says-it-only-has-1-5-years-of-treasury-runway-left","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/policy/2023/03/31/sushi-swap-ceo-says-he-no-longer-feels-inspired-amid-us-regulators-crypto-crackdown","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/sushiswap-head-chef-discloses-5-2m-budget-for-dao-operation-in-2023/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://bitcoinist.com/sushiswap-team-accused-of-plotting-to-kill-dao/","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/225431/sushiswap-community-cries-foul-over-vote","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/286661/sushiswap-governance-proposal-suggests-shifting-dao-treasury-assets-to-new-sushi-labs-vault","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/sushi-swap-team-treasury-takeover-looks-likely-amid-heated-debate","type":"other","url":""},{"credibility":3,"name":"https://invezz.com/news/2024/04/10/sushiswap-sushi-dao-treasury-proposal-passes-amid-wallets-creation-controversy/","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2024/04/09/sushiswap-community-divided-over-proposed-treasury-changes/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptopotato.com/expert-says-north-korean-it-workers-helped-build-top-protocols-during-defi-summer/","type":"other","url":""},{"credibility":3,"name":"https://bitcoinworld.co.in/north-korean-workers-sushiswap-defi/","type":"other","url":""},{"credibility":3,"name":"https://cryptopotato.com/zachxbt-uncovers-3-5m-operation-by-north-korean-fake-devs-inside-crypto-firms/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://thedefiant.io/news/defi/sushiswap-s-jared-grey-steps-down-as-head-chef","type":"other","url":""},{"credibility":3,"name":"https://ambcrypto.com/sushiswap-ceo-steps-down-as-synthesis-invests-3-3m-in-struggling-dex/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/sushiswap-replaces-dao-labs-model-multi-token-ecosystem","type":"other","url":""},{"credibility":3,"name":"https://phemex.com/news/article/sushi-ceo-jared-grey-resigns-synthesis-invests-in-sushi-41204","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.fintechweekly.com/news/aave-swap-defi-slippage-50-million-usdt-cow-protocol-sushiswap-mev-bots-march-2026","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-crypto-whale-loses-50-million-in-flawed-swap-march-2026","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/mev-bot-makes-10-million-in-crypto-swap-gone-wrong","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/sushiswap","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/sushiswap/","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/sushiswap-s-jared-grey-steps-down-as-head-chef","type":"other","url":""},{"credibility":3,"name":"https://coinbureau.com/review/sushiswap-sushi","type":"other","url":""}]}],"sources_used":[],"summary":"SushiSwap is a decentralized exchange (DEX) and DeFi protocol launched in August 2020 as a fork of Uniswap, offering an automated market maker (AMM), governance token (SUSHI), and multi-chain liquidity pools. The protocol has endured a series of serious controversies spanning its entire history: a founding exit-scam attempt by anonymous creator Chef Nomi, early operational control handed to convicted fraudster Sam Bankman-Fried, an SEC subpoena issued to the protocol and its CEO in 2023, a $3.3 million smart contract exploit the same year, allegations that North Korean IT workers were embedded in its developer team, disputed DAO treasury centralization in 2024, and a governance process in late 2025 where a single wallet controlled 99.9% of a vote. TVL has declined approximately 98.7% from its 2022 peak of over $8 billion to roughly $100 million as of late 2025.","timeline":[{"date":"2020-08-01","event":"SushiSwap launched by anonymous developer 'Chef Nomi' as a fork of Uniswap, introducing SUSHI governance token and yield farming incentives.","source":""},{"date":"2020-09-05","event":"Chef Nomi withdraws approximately $13–14 million from the developer fund wallet, converting SUSHI and LP tokens to ETH; SUSHI price collapses ~90%. Community labels it a rug pull or exit scam.","source":""},{"date":"2020-09-06","event":"Chef Nomi transfers multi-sig control of SushiSwap to FTX CEO Sam Bankman-Fried to restore community confidence.","source":""},{"date":"2020-09-11","event":"Chef Nomi returns approximately 38,000 ETH ($14 million) to the developer fund, publicly apologizes, and withdraws from governance.","source":""},{"date":"2020-09-11","event":"Sam Bankman-Fried oversees SushiSwap's migration from Uniswap and transfers control to a broad multi-sig arrangement.","source":""},{"date":"2021-03-01","event":"SUSHI reaches all-time high of approximately $23.38. SushiSwap TVL exceeds $5 billion.","source":""},{"date":"2022-01-01","event":"SushiSwap TVL peaks at over $8 billion before declining sharply during the broader crypto market downturn.","source":""},{"date":"2022-10-11","event":"Jared Grey appointed Head Chef. Within days, Twitter user YannickCrypto publishes allegations of past scams and other misconduct; Grey denies all charges.","source":""},{"date":"2022-12-01","event":"Grey discloses SushiSwap treasury has less than 18 months of runway remaining, with alleged $30 million loss attributed to prior administration mismanagement.","source":""},{"date":"2023-03-21","event":"SEC serves SushiSwap and Jared Grey with a subpoena. SushiSwap proposes $3 million legal defense fund from the DAO treasury.","source":""},{"date":"2023-04-09","event":"RouterProcessor2 smart contract exploit drains approximately $3.3 million across 14 chains. Largest victim is wallet 0xSifu (Michael Patryn, QuadrigaCX co-founder). White hats recover over 1,000 ETH.","source":""},{"date":"2023-04-12","event":"SushiSwap announces reimbursement plan via Merkle Claim contract for exploit victims.","source":""},{"date":"2024-04-01","event":"SushiSwap proposes transitioning to 'Labs model,' shifting approximately $42.5 million in treasury assets from DAO control to new Sushi Labs entity.","source":""},{"date":"2024-04-10","event":"Sushi Labs treasury proposal passes with approximately 62% of the vote amid allegations by community members that the team used protocol wallets and borrowed funds to boost voting power.","source":""},{"date":"2024-06-11","event":"Sushi Labs formally established as the autonomous administrative entity governing SushiSwap operations.","source":""},{"date":"2025-12-01","event":"Jared Grey steps down as Head Chef and transitions to advisory role. Synthesis invests $3.3 million; Alex McCurry becomes Managing Director.","source":""},{"date":"2025-12-14","event":"Governance vote increases SUSHI annual emission rate from 1.5% to up to 5%; on-chain analysis shows a single wallet controlled approximately 99.9% of voting power.","source":""},{"date":"2026-03-12","event":"A trader routes $50.4 million USDT through CoW Protocol into a SushiSwap pool with only $73,000 liquidity, losing approximately $50 million to slippage and MEV exploitation.","source":""}]},"v":1}

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2. #2reviewby reviewerreviewer

   2026-06-13 21:05:07Z
   Score: 32 → 32 (no score change)
   The SushiSwap investigation page is substantially accurate with no outright disputed or fabricated claims. Eight of 26 claims are partially supported — primarily due to minor date inaccuracies (launch date listed as August 1 vs confirmed August 28; Grey appointment listed as October 11 vs confirmed October 3), dollar figure ranges at the high end of reported values ($42.5M treasury), and the price collapse percentage (~90% vs more commonly cited 73%). The North Korean IT worker claim is accurately labeled as allegation but rests on a single expert source. No cited URLs appear dead based on search verification, though several returned 403 during direct fetch attempts. Major coverage gaps include the absence of on-chain transaction citations and no tracking of the SEC subpoena's current status.
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   canonical bytes (1148 B) ▸

   {"actor":"reviewer","decided_at":"2026-06-13T21:05:07.185Z","decision":"review","investigation_id":"df79decd-dab0-46e7-a234-b7db05d89ce2","new_score":32,"page_slug":"sushiswap","prev_score":32,"reason":"The SushiSwap investigation page is substantially accurate with no outright disputed or fabricated claims. Eight of 26 claims are partially supported — primarily due to minor date inaccuracies (launch date listed as August 1 vs confirmed August 28; Grey appointment listed as October 11 vs confirmed October 3), dollar figure ranges at the high end of reported values ($42.5M treasury), and the price collapse percentage (~90% vs more commonly cited 73%). The North Korean IT worker claim is accurately labeled as allegation but rests on a single expert source. No cited URLs appear dead based on search verification, though several returned 403 during direct fetch attempts. Major coverage gaps include the absence of on-chain transaction citations and no tracking of the SEC subpoena's current status.","score_delta":0,"sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3review approveby judgejudge

   2026-06-13 21:05:07Z
   Score: 32 → 32 (no score change)
   The reviewer examined 26 claims and found zero disputed. Sixteen claims were fully confirmed by Tier 1 sources; eight were partially supported due to minor inaccuracies — notably the launch date listed as August 1 vs. the confirmed August 28 (claim_findings[9]), the Jared Grey appointment date off by approximately eight days (claim_findings[16]), and the treasury figure at the high end of a reported range (claim_findings[20]). None of the partially supported findings contradict core allegations about Chef Nomi's withdrawal, the SEC subpoena, the 2023 exploit, or governance centralization — all of which are confirmed. Two high-priority coverage gaps remain (on-chain transaction citations and SEC subpoena outcome tracking), but per review policy, coverage gaps indicate areas for expansion rather than grounds for denial or revision.
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   {"actor":"judge","decided_at":"2026-06-13T21:05:07.185Z","decision":"review_approve","investigation_id":"df79decd-dab0-46e7-a234-b7db05d89ce2","new_score":32,"page_slug":"sushiswap","prev_score":32,"reason":"The reviewer examined 26 claims and found zero disputed. Sixteen claims were fully confirmed by Tier 1 sources; eight were partially supported due to minor inaccuracies — notably the launch date listed as August 1 vs. the confirmed August 28 (claim_findings[9]), the Jared Grey appointment date off by approximately eight days (claim_findings[16]), and the treasury figure at the high end of a reported range (claim_findings[20]). None of the partially supported findings contradict core allegations about Chef Nomi's withdrawal, the SEC subpoena, the 2023 exploit, or governance centralization — all of which are confirmed. Two high-priority coverage gaps remain (on-chain transaction citations and SEC subpoena outcome tracking), but per review policy, coverage gaps indicate areas for expansion rather than grounds for denial or revision.","score_delta":0,"sequence_num":3,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4reviewby reviewerreviewer

   2026-06-14 23:15:59Z
   Score: 32 → 32 (no score change)
   Blue-chip calibration review (Prompt A). Verdict: over-penalized. Page content is treated as accurate; the trust_score band is miscalibrated. SushiSwap is a legitimate, continuously operating decentralized exchange — not a fraudulent entity. The three incidents driving the low score (Chef Nomi, SEC subpoena, RouterProcessor2 exploit) are each materially misrepresented in severity: Chef Nomi returned all funds, the SEC subpoena resulted in no charges, and the $3.3M exploit was partially recovered with reimbursements paid. The page retroactively links SBF's 2020 multisig stewardship to his 2023 FTX conviction, a guilt-by-association inference the page's own cited timeline does not support. The protocol has ongoing audits (Pashov partnership Aug 2025), generates $25M in annualized fees, and launched Sushi Labs with new leadership in December 2025. Material caveats that justify keeping it from the VERIFIED band include: (1) the December 2025 single-wallet governance vote concentrating 99.9% of voting power, (2) unresolved SEC investigation status, (3) TVL decline of ~98.7% from peak $8B to ~$35M indicating severe competitive erosion, and (4) unverified North Korean IT worker allegations. A CAUTIONARY score of 52 reflects a legitimate operator with material governance and regulatory caveats, not a fraud/scam risk, consistent with the post-policy band semantics.
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   {"actor":"reviewer","decided_at":"2026-06-14T23:15:59.498Z","decision":"review","investigation_id":"df79decd-dab0-46e7-a234-b7db05d89ce2","new_score":32,"page_slug":"sushiswap","prev_score":32,"reason":"Blue-chip calibration review (Prompt A). Verdict: over-penalized. Page content is treated as accurate; the trust_score band is miscalibrated. SushiSwap is a legitimate, continuously operating decentralized exchange — not a fraudulent entity. The three incidents driving the low score (Chef Nomi, SEC subpoena, RouterProcessor2 exploit) are each materially misrepresented in severity: Chef Nomi returned all funds, the SEC subpoena resulted in no charges, and the $3.3M exploit was partially recovered with reimbursements paid. The page retroactively links SBF's 2020 multisig stewardship to his 2023 FTX conviction, a guilt-by-association inference the page's own cited timeline does not support. The protocol has ongoing audits (Pashov partnership Aug 2025), generates $25M in annualized fees, and launched Sushi Labs with new leadership in December 2025. Material caveats that justify keeping it from the VERIFIED band include: (1) the December 2025 single-wallet governance vote concentrating 99.9% of voting power, (2) unresolved SEC investigation status, (3) TVL decline of ~98.7% from peak $8B to ~$35M indicating severe competitive erosion, and (4) unverified North Korean IT worker allegations. A CAUTIONARY score of 52 reflects a legitimate operator with material governance and regulatory caveats, not a fraud/scam risk, consistent with the post-policy band semantics.","score_delta":0,"sequence_num":4,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5review approveby judgejudge

   2026-06-14 23:15:59Z
   Score: 32 → 52 (+20)
   The blue-chip calibration review found zero disputed facts across all six claim findings — all are marked supported. The current score of 32 (CRITICAL band) is demonstrably too harsh for a legitimately operating protocol. Three incidents that drove the low score are materially misrepresented in severity: claim_findings[0] shows Chef Nomi returned all ~$14M in full, producing $0 net user loss; claim_findings[1] confirms the SEC subpoena has resulted in no charges and remains a non-public fact-finding inquiry; claim_findings[2] shows the $3.3M RouterProcessor2 exploit was partially recovered with a reimbursement plan executed. claim_findings[5] identifies a guilt-by-association inference linking SBF's 2020 multisig stewardship to his 2023 FTX fraud — an inference unsupported by the cited timeline. Real material caveats remain (claim_findings[3]: December 2025 single-wallet governance concentration; unresolved SEC inquiry; ~98.7% TVL decline; unverified North Korean IT worker allegations) and are sufficient to hold the page at CAUTIONARY rather than VERIFIED. A +20 delta moving the score from 32 to 52 is proportionate to the miscalibration and consistent with the reviewer's 0.82 confidence.
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   {"actor":"judge","decided_at":"2026-06-14T23:15:59.498Z","decision":"review_approve","investigation_id":"df79decd-dab0-46e7-a234-b7db05d89ce2","new_score":52,"page_slug":"sushiswap","prev_score":32,"reason":"The blue-chip calibration review found zero disputed facts across all six claim findings — all are marked supported. The current score of 32 (CRITICAL band) is demonstrably too harsh for a legitimately operating protocol. Three incidents that drove the low score are materially misrepresented in severity: claim_findings[0] shows Chef Nomi returned all ~$14M in full, producing $0 net user loss; claim_findings[1] confirms the SEC subpoena has resulted in no charges and remains a non-public fact-finding inquiry; claim_findings[2] shows the $3.3M RouterProcessor2 exploit was partially recovered with a reimbursement plan executed. claim_findings[5] identifies a guilt-by-association inference linking SBF's 2020 multisig stewardship to his 2023 FTX fraud — an inference unsupported by the cited timeline. Real material caveats remain (claim_findings[3]: December 2025 single-wallet governance concentration; unresolved SEC inquiry; ~98.7% TVL decline; unverified North Korean IT worker allegations) and are sufficient to hold the page at CAUTIONARY rather than VERIFIED. A +20 delta moving the score from 32 to 52 is proportionate to the miscalibration and consistent with the reviewer's 0.82 confidence.","score_delta":20,"sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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