Tender Finance
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 investigationsTimeline(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.
Decision Log
- hash: 6a6hU28m3bnJssde1CJJeghvaakYCrG7PRJfwwo9GmN8
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, 2:54:43 AM
last updated: 5/28/2026, 4:12:49 PM
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