Audit log

Every state-changing event for Thetanuts Finance: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-29 02:28:24Z
   Score: ? → ? (no score change)
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   ●mainnet-betaslot 422,847,453

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   canonical bytes (7721 B) ▸

   {"actor":"system:backfill","investigation_id":"a147deee-ab3a-4dd3-bd1b-cd50d1abe93e","kind":"publish","page_slug":"thetanuts-finance","published_at":"2026-05-29T02:28:24.219Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Thetanuts Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.thetanuts.finance/v3-protocol-upgrade/overview","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://learn.bybit.com/en/defi/what-is-thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://coingecko.com/learn/thetanuts-finance-v3-the-latest-approach-to-decentralized-options","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2022/03/01/defi-platform-thetanuts-finance-raises-18m-seed-funding-to-fuel-growth","type":"other","url":""},{"credibility":3,"name":"https://blockworks.com/news/thetanuts-finance-get-18m-in-seed-funding-to-flest-out-defi-platform","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2023/04/24/defi-protocol-thetanuts-finance-raises-17m-for-expansion-new-partnerships","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/Three_Arrows_Capital","type":"other","url":""},{"credibility":3,"name":"https://www.bloomberg.com/news/features/2022-07-13/how-crypto-hedge-fund-three-arrows-capital-fell-apart-3ac","type":"other","url":""},{"credibility":3,"name":"https://www.cnbc.com/2022/07/11/how-the-fall-of-three-arrows-or-3ac-dragged-down-crypto-investors.html","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://x.com/ThetanutsFi/status/1881970929812832556","type":"other","url":""},{"credibility":3,"name":"https://x.com/TenArmorAlert/status/1881999811202916753","type":"other","url":""},{"credibility":3,"name":"https://docs.thetanuts.finance/contracts-and-security/security","type":"other","url":""},{"credibility":3,"name":"https://x41-dsec.de/defi/smartcontract/smart/contract/ethereum/eth/thetanuts/solidity/security/report/2021/12/14/thetanuts.finance-smart-contract-audit/","type":"other","url":""},{"credibility":3,"name":"https://skynet.certik.com/projects/thetanuts-finance","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.thetanuts.finance/nuts-token/token-distribution","type":"other","url":""},{"credibility":3,"name":"https://docs.thetanuts.finance/nuts-token/season-1-airdrop","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/en/coins/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/thetanuts-finance/","type":"other","url":""},{"credibility":3,"name":"https://skynet.certik.com/projects/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://icodrops.com/thetanuts-finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.crunchbase.com/organization/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://tracxn.com/d/companies/thetanuts-finance/__7KmbDHgb3y3kS-oKCpbxGWyWVmfxH8EZAi75ZhyJaRA","type":"other","url":""},{"credibility":3,"name":"https://skynet.certik.com/projects/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://businessmodelcanvastemplate.com/blogs/brief-history/thetanuts-finance-brief-history","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/thetanuts-finance","type":"other","url":""},{"credibility":3,"name":"https://thetanutsfinance.medium.com/thetanuts-finance-announcing-the-v3-upgrade-42875cb7a13b","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@benhwx/a-deep-dive-into-thetanuts-finance-v3-d134b9c7b43d","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/thetanuts-finance-launches-leveraged-liquid-restaking","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://t.me/s/investigations/282","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/ZachXBT","type":"other","url":""},{"credibility":3,"name":"https://www.scamadviser.com/check-website/app.thetanuts.finance","type":"other","url":""},{"credibility":3,"name":"https://tgstat.com/channel/@investigations","type":"other","url":""}]}],"sources_used":[],"summary":"Thetanuts Finance is a multi-chain decentralized structured products protocol launched in August 2021, offering automated options vaults (covered calls, cash-secured puts) to generate yield across more than ten blockchain networks. The protocol raised $35 million across two funding rounds but has experienced severe TVL and token price decline since its 2022 peak, carries notable investor-concentration risk due to its early backing from the now-collapsed Three Arrows Capital, and has been flagged by on-chain investigator ZachXBT. A January 2025 exploit targeted unreleased v4 test contracts; no user funds were lost according to the team, though the incident raised scrutiny.","timeline":[{"date":"2021-08-01","event":"Thetanuts Finance launches its decentralized options vault protocol, initially offering covered call and cash-secured put Basic Vaults.","source":""},{"date":"2021-12-14","event":"X41 D-Sec GmbH publishes the first public smart contract security review of Thetanuts Finance option vault contracts, finding no critical flaws.","source":""},{"date":"2022-03-01","event":"Thetanuts Finance announces an $18 million seed round led by Three Arrows Capital, Deribit, QCP Capital, and Jump Crypto, with participation from Paradigm, Wintermute, Genesis Trading, and others.","source":""},{"date":"2022-05-01","event":"Protocol reaches peak TVL of approximately $50 million, coinciding with high crypto market volatility and elevated option premiums.","source":""},{"date":"2022-06-27","event":"Three Arrows Capital — Thetanuts Finance's lead seed investor — is ordered to liquidate by a BVI court following losses exceeding $4.2 billion. The impact on Thetanuts token or equity holdings held by 3AC is not publicly disclosed.","source":""},{"date":"2023-04-24","event":"Thetanuts Finance closes a $17 million follow-on funding round led by Polychain Capital, Hyperchain Capital, and Magnus Capital, bringing total disclosed fundraising to $35 million.","source":""},{"date":"2023-09-29","event":"3AC co-founder Su Zhu is arrested in Singapore and sentenced to four months in prison for failing to cooperate with the firm's liquidators.","source":""},{"date":"2023-11-01","event":"Consensys Diligence and Halborn complete additional smart contract audits of Thetanuts Finance v3 contracts.","source":""},{"date":"2024-05-20","event":"NUTS token reaches its all-time high price of approximately $0.0442 following its listing on Bybit.","source":""},{"date":"2025-01-22","event":"CertiKAlert identifies an exploit on a Thetanuts Finance contract. The team states the affected contract is an unreleased v4 test contract; no user funds are reportedly at risk. No public post-mortem with on-chain evidence is published.","source":""},{"date":"2026-05-28","event":"NUTS token trades at approximately $0.001227, representing a decline of roughly 97% from all-time high. Protocol TVL stands at approximately $639,000 across eleven chains.","source":""}]},"v":1}

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2. #2reviewby reviewerreviewer

   2026-08-18 20:40:46Z
   Score: 42 → 42 (no score change)
   Core funding, audit, and 3AC-linkage claims are well-corroborated by independent tier-1 sources. Two defects stand out: the 'flagged by ZachXBT' claim is unsupported by its cited source and could not be corroborated elsewhere, and the page's incident history is stale — it omits a real, dated June 2026 exploit ($2.1M drained from a deprecated vault, ~$2M recovered) that postdates the current timeline and is more consequential than the January 2025 'no funds at risk' incident the page does cover. No unhedged fraud language was found in the visible claim text, and the page appropriately frames 3AC's collapse as investor-concentration risk rather than Thetanuts' own conduct.
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   ●mainnet-betaslot 443,508,724

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   canonical bytes (1032 B) ▸

   {"actor":"reviewer","decided_at":"2026-08-18T20:40:46.552Z","decision":"review","investigation_id":"a147deee-ab3a-4dd3-bd1b-cd50d1abe93e","new_score":42,"page_slug":"thetanuts-finance","prev_score":42,"reason":"Core funding, audit, and 3AC-linkage claims are well-corroborated by independent tier-1 sources. Two defects stand out: the 'flagged by ZachXBT' claim is unsupported by its cited source and could not be corroborated elsewhere, and the page's incident history is stale — it omits a real, dated June 2026 exploit ($2.1M drained from a deprecated vault, ~$2M recovered) that postdates the current timeline and is more consequential than the January 2025 'no funds at risk' incident the page does cover. No unhedged fraud language was found in the visible claim text, and the page appropriately frames 3AC's collapse as investor-concentration risk rather than Thetanuts' own conduct.","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 reviseby judgejudge

   2026-08-18 20:40:46Z
   Score: 42 → 56 (+14)
   The current score of 42 (WARNING) is not supported by the entity's own conduct: every incident the reviewer checked is a suffered or third-party exploit, not fraud by Thetanuts itself. The January 2025 test-contract exploit and the June 2026 deprecated-vault exploit (omitted from the page, coverage_gaps[0]) are both attribution 'b' (suffered), with the latter ~95% recovered by a white hat; the Three Arrows Capital linkage is attribution 'c' (investor-concentration, correctly not framed as Thetanuts' own conduct). Per the rubric, suffered incidents with no own-fraud finding cap the entity at CAUTIONARY (50-69), not WARNING. The page does carry one material content defect — claim_findings[4], the 'flagged by ZachXBT' claim, is unsupported by its cited source (which covers an unrelated protocol) and could not be corroborated elsewhere — which should be corrected on the next editing pass, but this is a citation/attribution error, not evidence of entity fraud, and does not itself justify a WARNING-level conduct score. Notes: (Correct or remove the 'flagged by ZachXBT' claim in the summary (claim_findings[4]) — the cited t.me/s/investigations/282 post is about an unrelated Garden Finance exploit and does not mention Thetanuts.) (Add the June 15, 2026 deprecated-vault exploit (~$2.1M drained, ~$2M recovered by white hat) to the timeline per coverage_gaps[0]; the page's incident history currently ends 2026-05-28 and omits the most consequential fund-loss event on record.) (Fix the 'since its 2022 peak' framing — TVL peaked in 2022 but NUTS token price peaked in May 2024; the two should not be conflated in a single sentence.) (Reconcile the NUTS ATH price ($0.0442 on page vs $0.04073 per CoinGecko) and the current TVL figure ($639K on page vs conflicting secondary figures) against a dated, citable DefiLlama/CoinGecko snapshot.)
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   ●mainnet-betaslot 443,508,727

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   {"actor":"judge","decided_at":"2026-08-18T20:40:46.552Z","decision":"review_revise","investigation_id":"a147deee-ab3a-4dd3-bd1b-cd50d1abe93e","new_score":56,"page_slug":"thetanuts-finance","prev_score":42,"reason":"The current score of 42 (WARNING) is not supported by the entity's own conduct: every incident the reviewer checked is a suffered or third-party exploit, not fraud by Thetanuts itself. The January 2025 test-contract exploit and the June 2026 deprecated-vault exploit (omitted from the page, coverage_gaps[0]) are both attribution 'b' (suffered), with the latter ~95% recovered by a white hat; the Three Arrows Capital linkage is attribution 'c' (investor-concentration, correctly not framed as Thetanuts' own conduct). Per the rubric, suffered incidents with no own-fraud finding cap the entity at CAUTIONARY (50-69), not WARNING. The page does carry one material content defect — claim_findings[4], the 'flagged by ZachXBT' claim, is unsupported by its cited source (which covers an unrelated protocol) and could not be corroborated elsewhere — which should be corrected on the next editing pass, but this is a citation/attribution error, not evidence of entity fraud, and does not itself justify a WARNING-level conduct score. Notes: (Correct or remove the 'flagged by ZachXBT' claim in the summary (claim_findings[4]) — the cited t.me/s/investigations/282 post is about an unrelated Garden Finance exploit and does not mention Thetanuts.) (Add the June 15, 2026 deprecated-vault exploit (~$2.1M drained, ~$2M recovered by white hat) to the timeline per coverage_gaps[0]; the page's incident history currently ends 2026-05-28 and omits the most consequential fund-loss event on record.) (Fix the 'since its 2022 peak' framing — TVL peaked in 2022 but NUTS token price peaked in May 2024; the two should not be conflated in a single sentence.) (Reconcile the NUTS ATH price ($0.0442 on page vs $0.04073 per CoinGecko) and the current TVL figure ($639K on page vs conflicting secondary figures) against a dated, citable DefiLlama/CoinGecko snapshot.)","score_delta":14,"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

   2026-09-09 03:05:25Z
   Score: 62 → 62 (no score change)
   Findings-only fact-check (retroactive anchor of stored findings)
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   {"actor":"reviewer","artifact_identity":"b9fd505f1ad8f7d6203cbc78f80ffceb","decided_at":"2026-09-06T20:57:51.717485+00:00","decision":"review","findings_count":24,"findings_rows_hash":"9c597bb6a4dae719a4913fdb57d829e515b3718616e5f0b57d687dada7530990","investigation_id":"a147deee-ab3a-4dd3-bd1b-cd50d1abe93e","mode":"findings_only_retroactive","new_score":62,"page_content_hash":"c6a5273dc0beeca65c9f1c44e9d7274fc42b59ea20fe84f58314484e2042e74c","page_slug":"thetanuts-finance","prev_score":62,"reason":"Findings-only fact-check (retroactive anchor of stored findings)","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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