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{"actor":"system:backfill","investigation_id":"e3181cbc-54bc-4c6b-ae23-d9d214c27374","kind":"publish","page_slug":"locus-finance","published_at":"2026-05-29T17:03:37.832Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Locus Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@locus.finance/introducing-locus-finance-a-new-era-in-defi-b9ae9048f2d2","type":"other","url":""},{"credibility":3,"name":"https://iq.wiki/wiki/locus-finance","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/locus-finance?denomination=USD","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theblock.co/post/240980/founder-of-defunct-midas-foundation-launches-new-defi-investment-platform-locus-finance","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@coinness.gl/midas-investments-founder-launches-locus-finance-f6fda3ba2530","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@locus.finance/ama-session-why-should-you-trust-locus-after-midas-9a87c06ea805","type":"other","url":""},{"credibility":3,"name":"https://bitkan.com/learn/what-happened-to-midas-crypto-is-midas-coin-a-good-investment-18592","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://dfpi.ca.gov/enforcement_action/midas-investments/","type":"other","url":""},{"credibility":3,"name":"https://dfpi.ca.gov/wp-content/uploads/sites/337/2023/04/D-R-Midas-Investments.pdf","type":"other","url":""},{"credibility":3,"name":"https://dfi.wi.gov/Documents/Securities/RegistrationOfProfessionals/EnforcementAdministrativeOrders/2024/20240528MidasAlphaIakovLevin.pdf","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@locus.finance/explaining-the-locus-hack-actions-taken-and-progress-on-fund-retribution-12761029db56","type":"other","url":""},{"credibility":3,"name":"https://iq.wiki/wiki/locus-finance","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/hacks","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://smartstate.tech/blog/locus-finance-smart-contract-security-audit-by-smartstate.html","type":"other","url":""},{"credibility":3,"name":"https://docs.locus.finance/information/audits","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coingecko.com/en/coins/locus-finance","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/locus-finance?denomination=USD","type":"other","url":""},{"credibility":3,"name":"https://www.trustpilot.com/review/locus.finance","type":"other","url":""},{"credibility":3,"name":"https://coinpaprika.com/coin/locus-locus-finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.trustpilot.com/review/locus.finance","type":"other","url":""},{"credibility":3,"name":"https://mintonblock.com/blog/is-locus-finance-legit-scam-broker-report/","type":"other","url":""},{"credibility":3,"name":"https://x.com/Locus_finance","type":"other","url":""}]}],"sources_used":[],"summary":"Locus Finance is a DeFi yield-vault protocol launched in July 2023 by Iakov Levin, the founder of the defunct custodial crypto platform Midas Investments, which collapsed in December 2022 with a reported $63.3 million deficit. On December 30, 2023, Locus suffered a $320,964 exploit due to a developer private key leak during a CTO transition. The LOCUS token has declined over 99% from its all-time high, the protocol's TVL is near zero, and Levin is subject to regulatory enforcement actions in California and Wisconsin related to his prior venture.","timeline":[{"date":"2018-01-01","event":"Iakov Levin (Trevor Levin) founds Midas Investments, a custodial crypto yield platform.","source":""},{"date":"2021-08-01","event":"Midas Investments grows from $25 million to $250 million in assets under management within three months.","source":""},{"date":"2022-12-27","event":"Midas Investments shuts down operations, citing a $63.3 million DeFi portfolio deficit. Investors allege 55% of assets were converted into the proprietary MIDAS token, which subsequently became near-worthless.","source":""},{"date":"2023-04-06","event":"California DFPI issues Desist and Refrain Order against Midas Investments and Iakov Levin for offering unqualified securities in California.","source":""},{"date":"2023-07-26","event":"Locus Finance launches. The protocol attracts $1 million in deposits within 24 hours. Founder Iakov Levin publicly positions Locus as a redemption project for Midas investors.","source":""},{"date":"2023-11-27","event":"LOCUS token LBP sale begins at $4.50/token, running through November 30, 2023, with a mandatory 30-day lock on purchased tokens.","source":""},{"date":"2023-12-21","event":"SmartState completes smart contract security audit of Locus Finance, finding no vulnerabilities and awarding a 'high' security score.","source":""},{"date":"2023-12-30","event":"Locus Finance vaults exploited via developer private key compromise during CTO transition. Losses confirmed at $320,964 across Ethereum and Arbitrum deployments.","source":""},{"date":"2024-01-03","event":"LOCUS token reaches all-time high of approximately $3.40.","source":""},{"date":"2024-05-28","event":"Wisconsin Department of Financial Institutions issues an administrative enforcement order against Midas Alpha and Iakov Levin.","source":""},{"date":"2025-11-14","event":"LOCUS token reaches all-time low of approximately $0.031, a decline of over 99% from its peak.","source":""},{"date":"2026-05-01","event":"Protocol TVL approximately $48,000. Daily trading volume on primary exchange reported as low as $14. Protocol described as transitioning to a 'private investment DAO' with unpaid volunteer board members.","source":""}]},"v":1}