Value DeFi Protocol
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 30. Problems weighed by who is responsible: incidents the subject suffered −20, the subject's own conduct −15, concerns that are not fraud −6, problems around the subject, caused by others −3.8; the penalty for incidents it suffered is capped at 20. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -15 |
| Concerns that are not fraud | -6 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -3.8 |
| Sum | 20 |
- The penalty for incidents it suffered is capped at 20 points.
Score: 30/100 (kept between 0 and 100)
How scoring works →Summary
Value DeFi Protocol is a yield aggregation and automated market-making platform that operated on Ethereum and Binance Smart Chain, offering products including vSafe vaults, vSwap, and governance staking. The protocol suffered at least three major security exploits between November 2020 and May 2021, resulting in a combined estimated loss of approximately $23 million across multiple incidents. The protocol is notably remembered for having publicly claimed flash loan attack prevention the day before its first and most publicized exploit.
Connected Entities
6 entities · 60 linked investigations- Value DeFi Protocol→mentioned with→Binance(70%)
- Value DeFi Protocol→mentioned with→Chainlink(70%)
- Value DeFi Protocol→mentioned with→Uniswap(65%)
- Value DeFi Protocol→mentioned with→Ethereum(75%)
- Binance→mentioned with→Ethereum(65%)
- Uniswap→mentioned with→Ethereum(80%)
- Chainlink→mentioned with→Ethereum(65%)
- Value DeFi Protocol→mentioned with→Iron Finance(80%)
- Iron Finance→mentioned with→Binance(70%)
Timeline(9 events)
13 November 2020
Value DeFi published a tweet (later deleted) claiming the protocol had the 'highest security' and was capable of preventing flash loan attacks. The MultiStables vault was launched.
Bitcoin News14 November 2020
Flash loan exploit drained approximately $7.4 million in DAI from the MultiStables vault. Attacker used 80,000 ETH from Aave and ~$116 million DAI from Uniswap to manipulate Curve 3pool oracle prices. Attacker returned $2 million and left on-chain message: 'do you really know flashloan?'
CoinDesk / PeckShield14 November 2020
VALUE governance token price dropped approximately 27–30% following exploit news.
CoinDesk15 November 2020
Value DeFi published official post-mortem acknowledging two root cause vulnerabilities, halted MultiStables vault deposits, and announced IOU compensation mechanism for affected users.
Value DeFi Medium (Official)16 November 2020
Value DeFi announced integration with Chainlink's decentralized oracle network to replace the AMM-based Curve spot price oracle that was exploited.
Decrypt5 May 2021
Second major exploit on BSC: attacker re-initialized the vStake pool due to a missing 'initialized = true' guard in the initialize() function, assumed owner role, and called governanceRecoverUnsupported() to drain approximately $10 million.
rekt.news7 May 2021
Iron Finance, a partner protocol whose liquidity pools were affected by the Value DeFi vStake exploit, published an incident report confirming the impact.
Iron Finance Medium8 May 2021
Third exploit: Value DeFi's vSwap module on BSC was exploited via a flaw in the ensureConstantValue validation function, allowing an attacker to drain multiple liquidity pools using flash loans. SlowMist published an analysis.
SlowMist / Medium8 May 2021
Value DeFi became the first protocol to appear twice on the rekt.news REKT leaderboard following the successive May 2021 exploits.
rekt.newsDecision Log
- slot 455357306 · hash BeGMQNQNJ1RkjbDAcx1efzKTsRWX7QabU6np6K1sqSra
- slot 423324667 · hash CFJdwJgJzd7CYRnaWcz3QZ1nf8VcyjwX5Uca3FLiSEvQ
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 13 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 7:00:16 AM
last updated: 10/10/2026, 6:39:27 PM
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