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Tender Finance

avoid.net/tender-finance→32/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·4z22vp…tjNk

Summary

Tender Finance (tender.fi) was an Arbitrum-based decentralized lending and borrowing protocol that suffered a $1.59 million oracle misconfiguration exploit on March 7, 2023. A white hat hacker exploited a decimal precision error in the GMX price oracle, depositing one GMX token worth approximately $71 to borrow nearly $1.6 million in assets. The hacker returned funds in exchange for a $97,000 bounty, and the project subsequently rebranded to GLend under the Gemach DAO umbrella, migrating its TND token to GLEND and later to GMAC.

Connected Entities

1 entities · 10 linked investigations
Protocols
⌂Tender Finance
Relationships
    Also appears in
    Saga EVM Blockchain·32Mach-O Man Malware Campaign (Lazarus / Chollima)·0Gamma Strategies·28Alephium Bridge·18Bunni Protocol·28BitGrail·2Lulo·55Thorchain DEX·28Crossmint·70Access Protocol·47
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    Timeline(8 events)

    2022-01-01

    Tender Finance launches on Arbitrum as a decentralized lending and borrowing protocol focused on GMX and GLP collateral.

    2023-02-20

    TND token reaches its all-time high price of approximately $7.60.

    2023-03-07

    Oracle misconfiguration exploit: white hat hacker deposits 1 GMX token (~$71) and borrows $1.59 million due to a 38-decimal-place price error in the GMXPriceOracle contract. Tender Finance halts lending operations.

    2023-03-07

    Hacker leaves on-chain message: 'It looks like your oracle was misconfigured. Contact me to sort this out.' Protocol contacts hacker and negotiates fund return.

    2023-03-08

    White hat hacker returns all $1.59 million in funds to the protocol. Tender Finance confirms funds are safe and pays 62.16 ETH (~$97,000) bounty. CoinDesk and The Block report on the resolution.

    2023-10-01

    Tender Finance submits application for Arbitrum STIP Round 2 under the 'Gemach DAO' name.

    2023-10-19

    @Tender_fi announces token migration from TND to GLEND (Gemach Lend) on a 1:1 basis.

    2024-01-15

    GLend (formerly Tender Finance) announces further token migration from GLEND to GMAC as part of the Gemach DAO ecosystem expansion.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:43 AM

    last updated: 5/28/2026, 4:12:49 PM

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