Tender Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 32 → 65. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −3.2, problems around the subject, caused by others −2.4; legitimacy credit long-running +4. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -2.4 |
| Long-running | +4 |
| Sum | 57 |
Score: 65/100 (kept between 0 and 100)
How scoring works →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
5 entities · 60 linked investigations- Tender Finance→mentioned with→Chainlink(60%)
- Tender Finance→mentioned with→ZachXBT(70%)
- Tender Finance→mentioned with→Arbitrum(70%)
- Tender Finance→mentioned with→Aave(60%)
- Aave→mentioned with→Arbitrum(70%)
- Arbitrum→mentioned with→Aave(70%)
- Aave→mentioned with→Chainlink(60%)
Connected Through
4 shared actors · 579 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □ZachXBTorganization
- □Arbitrumorganization
- □Chainlinkorganization
- □Aaveorganization
Timeline(8 events)
2022
Tender Finance launches on Arbitrum as a decentralized lending and borrowing protocol focused on GMX and GLP collateral.
20 February 2023
TND token reaches its all-time high price of approximately $7.60.
7 March 2023
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.
7 March 2023
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.
8 March 2023
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.
October 2023
Tender Finance submits application for Arbitrum STIP Round 2 under the 'Gemach DAO' name.
19 October 2023
@Tender_fi announces token migration from TND to GLEND (Gemach Lend) on a 1:1 basis.
15 January 2024
GLend (formerly Tender Finance) announces further token migration from GLEND to GMAC as part of the Gemach DAO ecosystem expansion.
Decision Log
- slot 455365791 · hash FkKAtBGucBCJPzs52yBBY9kisfYVEfDsE8n6FUbNzjdQ
- slot 422754261 · hash 6a6hU28m3bnJssde1CJJeghvaakYCrG7PRJfwwo9GmN8
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 12 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:43 AM
last updated: 10/10/2026, 6:46:02 PM
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