Themis Protocol
Last changed 2026-11-04 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -2.4 |
| Long-running | +2 |
| Sum | 55 |
- No longer operating, so capped at 50.
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 50/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-04 · 5 of 7 claims confirmed · 2 need better sources
anchored·4yjzmp…UvV4Summary
Themis Protocol is a DeFi lending and borrowing platform deployed on Arbitrum that allows users to collateralize Uniswap v3 LP positions and Balancer LP tokens to borrow stablecoins and blue-chip assets. On June 27, 2023, approximately eleven days after its beta launch, the protocol suffered a flash loan oracle manipulation exploit resulting in approximately $370,000 in losses. The attacker laundered the stolen funds via Tornado Cash, the protocol was suspended indefinitely, and TVL effectively dropped to near zero following the incident.
Connected Entities
7 entities · 60 linked investigations- Balancer→mentioned with→Arbitrum(60%)
- Themis Protocol→mentioned with→Arbitrum(70%)
- Themis Protocol→mentioned with→ZachXBT(65%)
- Themis Protocol→mentioned with→Balancer(80%)
- Themis Protocol→mentioned with→Uniswap(70%)
- Themis Protocol→mentioned with→Aave(60%)
- Themis Protocol→mentioned with→DAO Maker(80%)
- Aave→mentioned with→Arbitrum(70%)
- Aave→mentioned with→Uniswap(60%)
- Arbitrum→mentioned with→Uniswap(60%)
- + 1 more
Timeline(7 events)
November 2021
Themis Protocol announces $2 million seed round with backers including DAO Maker, NFX, LD Capital, and Ghaf Capital.
28 March 2022
A High Risk vulnerability in the Uniswap v3 LP pricing formula is filed in Themis Protocol's public GitHub repository, noting that use of spot price (slot0) rather than TWAP makes LP token collateral exploitable via price manipulation.
16 June 2023
Themis Protocol launches in beta on Arbitrum One. TVL grows to approximately $1 million within days.
27 June 2023
Themis Protocol is exploited via a flash loan oracle manipulation attack on Arbitrum One. Approximately $370,000 is stolen by manipulating the Balancer LP token price oracle. Attacker address: 0xdb73eb484e7dea3785520d750eabef50a9b9ab33.
27 June 2023
Themis team suspends borrowing functions and announces an emergency investigation. Team states it is preparing a compensation plan and pursuing fund recovery from the attacker.
28 June 2023
Attacker cross-chains stolen funds via Stargate Finance and begins laundering approximately 191 ETH through Tornado Cash.
28 June 2023
Multiple security firms including Neptune Mutual and SolidityScan publish post-mortem analyses of the Themis Protocol exploit.
Decision Log
- slot 465112868 · hash C1WGNPTLeJN8tVP2s9iqSrQaYuU16Q7fSBRB8iLYx6c2
- slot 465112863 · hash 5VR646kABv9hKo5rYTsoNaXiM2wQ45XhM8vB5xSrtswB
- slot 461953908 · hash J6N9nGWmcmrd8CHhHwB5rDWi3pTzyGmA3icSiULMt648
- slot 422983065 · hash 3u8mCiHYZQdFYt9LMS9UuytHnwRge1157TpBfQvwmGJh
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 8 of 11 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:40 AM
last updated: 11/4/2026, 1:13:15 AM
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