Verify a decision

{"actor":"system:backfill","investigation_id":"3ff37634-d276-4760-a4b9-2c4b57a50a6d","kind":"publish","page_slug":"dodo-amm","published_at":"2026-05-28T18:37:20.809Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"DODO AMM","sections":[{"content":"","heading":"","severity":"none","sources":[{"credibility":2,"name":"What Is DODO? PMM Algorithm Explained — Gate Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-dodo/626"},{"credibility":2,"name":"DODO: Capital Efficient DEX — Messari","type":"research","url":"https://messari.io/report/dodo-capital-efficient-dex"},{"credibility":2,"name":"What Is DODO? — Binance Academy","type":"other","url":"https://academy.binance.com/en/articles/what-is-dodo"}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":2,"name":"Explained: The DODO DEX Hack (March 2021) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-dodo-dex-hack-march-2021"},{"credibility":1,"name":"DODO DEX Drained of $3.8M in DeFi Exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2021/03/09/dodo-dex-drained-of-38m-in-defi-exploit"},{"credibility":2,"name":"DODO Details $3.8 Million DeFi Attack in Post Mortem — BeInCrypto","type":"news_article","url":"https://beincrypto.com/dodo-details-defi-attack-post-mortem/"},{"credibility":1,"name":"Decentralized exchange DODO recovers some funds after attackers exploit bug for $3.8M — The Block","type":"news_article","url":"https://www.theblock.co/linked/97734/dodo-dex-exploit-bug-attack"},{"credibility":2,"name":"SlowMist: An Analysis of the Attack on DODO — SlowMist / Medium","type":"research","url":"https://slowmist.medium.com/an-analysis-of-the-attack-on-dodo-628128ee6f5f"},{"credibility":2,"name":"DeFi Hacks Continue: DODO Exploited for up to $3.8M — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/defi-hacks-continue-decentralized-exchange-dodo-exploited-for-up-to-3-8m/"},{"credibility":2,"name":"DODO Finance Initialization Vulnerability — Quadriga Initiative","type":"community_report","url":"https://www.quadrigainitiative.com/casestudy/dodofinancehack.php"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":1,"name":"DODO Security Audits — DODO Official Documentation","type":"official","url":"https://docs.dodoex.io/en/home/security"},{"credibility":2,"name":"Explained: The DODO DEX Hack (March 2021) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-dodo-dex-hack-march-2021"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":2,"name":"DODO (DODO) Tokenomics — Tokenomist","type":"research","url":"https://tokenomist.ai/dodo"},{"credibility":2,"name":"DODO Token(DODO) Tokenomics and ICO/IDO Info — CoinCarp","type":"other","url":"https://www.coincarp.com/currencies/dodo/project-info/"},{"credibility":2,"name":"DODO (DODO) IDO Funding Rounds & Tokenomics Analysis — CryptoRank","type":"research","url":"https://cryptorank.io/ico/dodo"}]},{"content":"","heading":"","severity":"low","sources":[]},{"content":"","heading":"","severity":"low","sources":[{"credibility":2,"name":"DODO TVL, Fees, Revenue, Volume — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/dodo"},{"credibility":2,"name":"Dodo DEX Review 2025 — Coin Bureau","type":"research","url":"https://coinbureau.com/review/dodo-dex-review"},{"credibility":2,"name":"DODO: Everything You Need To Know — Komodo Platform","type":"other","url":"https://komodoplatform.com/en/academy/what-is-dodo-dodo/"}]}],"sources_used":[{"credibility":2,"name":"Explained: The DODO DEX Hack (March 2021) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-dodo-dex-hack-march-2021"},{"credibility":1,"name":"DODO DEX Drained of $3.8M in DeFi Exploit — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2021/03/09/dodo-dex-drained-of-38m-in-defi-exploit"},{"credibility":2,"name":"DODO Details $3.8 Million DeFi Attack in Post Mortem — BeInCrypto","type":"news_article","url":"https://beincrypto.com/dodo-details-defi-attack-post-mortem/"},{"credibility":1,"name":"Decentralized exchange DODO recovers some funds after attackers exploit bug for $3.8M — The Block","type":"news_article","url":"https://www.theblock.co/linked/97734/dodo-dex-exploit-bug-attack"},{"credibility":2,"name":"SlowMist: An Analysis of the Attack on DODO — SlowMist / Medium","type":"research","url":"https://slowmist.medium.com/an-analysis-of-the-attack-on-dodo-628128ee6f5f"},{"credibility":2,"name":"DeFi Hacks Continue: DODO Exploited for up to $3.8M — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/defi-hacks-continue-decentralized-exchange-dodo-exploited-for-up-to-3-8m/"},{"credibility":2,"name":"DODO Finance Initialization Vulnerability — Quadriga Initiative","type":"community_report","url":"https://www.quadrigainitiative.com/casestudy/dodofinancehack.php"},{"credibility":1,"name":"DODO Security Audits — DODO Official Documentation","type":"official","url":"https://docs.dodoex.io/en/home/security"},{"credibility":2,"name":"DODO TVL, Fees, Revenue, Volume — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/dodo"},{"credibility":2,"name":"DODO (DODO) Tokenomics — Tokenomist","type":"research","url":"https://tokenomist.ai/dodo"},{"credibility":2,"name":"DODO Token(DODO) Tokenomics and ICO/IDO Info — CoinCarp","type":"other","url":"https://www.coincarp.com/currencies/dodo/project-info/"},{"credibility":2,"name":"DODO (DODO) IDO Funding Rounds & Tokenomics Analysis — CryptoRank","type":"research","url":"https://cryptorank.io/ico/dodo"},{"credibility":2,"name":"Dodo DEX Review 2025 — Coin Bureau","type":"research","url":"https://coinbureau.com/review/dodo-dex-review"},{"credibility":2,"name":"What Is DODO? PMM Algorithm Explained — Gate Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-dodo/626"},{"credibility":2,"name":"DODO: Capital Efficient DEX — Messari","type":"research","url":"https://messari.io/report/dodo-capital-efficient-dex"},{"credibility":1,"name":"DODO DEX Drained of $3.8M — Nasdaq (CoinDesk reprint)","type":"news_article","url":"https://www.nasdaq.com/articles/dodo-dex-drained-of-$3.8m-in-defi-exploit-2021-03-09"},{"credibility":2,"name":"Decentralized Exchange DODO Hacked For $3.8 Million — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/decentralized-exchange-dodo-hacked-3-004826782.html"}],"summary":"DODO is a decentralized exchange (DEX) protocol launched in 2020, operating across 14 EVM-compatible chains, and known for its proprietary Proactive Market Maker (PMM) algorithm that concentrates liquidity near market price. On March 8, 2021, an attacker exploited a critical initialization vulnerability in DODO's V2 Crowdpooling smart contracts, draining approximately $3.8 million across four pools; roughly $3.1 million was subsequently recovered through voluntary restitution and frontrunning bot operator cooperation. The protocol continues to operate and has undergone multiple third-party security audits post-exploit, though it has lost significant market share and TVL since its 2021 peak.","timeline":[{"date":"2020-07-10","event":"DODO V1 smart contracts audited by PeckShield.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2020-09-18","event":"DODO V1 smart contracts audited by Trail of Bits.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2020-12-17","event":"DODO V2 contracts audited by PeckShield prior to V2 launch.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2021-02-18","event":"vDODO contracts audited by CertiK.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2021-03-08","event":"Attackers exploit a critical re-initialization vulnerability in DODO V2 Crowdpooling smart contracts, draining approximately $3.8 million from four pools (WSZO, WCRES, ETHA, FUSI) using flash loans. Two frontrunning MEV bots also execute the exploit ahead of the primary attacker.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2021/03/09/dodo-dex-drained-of-38m-in-defi-exploit"},{"date":"2021-03-09","event":"DODO publicly discloses the attack; initial reports estimate $2.1 million in losses. Token price falls approximately 6% to $3.84. TVL declines 29% to $39 million.","source":"BeInCrypto","source_url":"https://beincrypto.com/dodo-dex-exploited-for-2-million-in-latest-defi-incursion/"},{"date":"2021-03-10","event":"DODO releases post-mortem with updated figures confirming $3.8 million total drained. Team reports recovery of $1.89 million (approximately 1,139,456 USDT and 411 ETH), with $200,000 frozen on an exchange. Net unrecovered loss estimated at approximately $700,000.","source":"BeInCrypto post-mortem","source_url":"https://beincrypto.com/dodo-details-defi-attack-post-mortem/"},{"date":"2021-03-16","event":"V2 CrowdPooling and Vending Machine contracts audited by Beosin — after the exploit had already occurred.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2021-04-13","event":"DODO V2 contracts audited by SlowMist as part of post-exploit remediation.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2021-12-15","event":"DODO LimitOrder, RFQ, and CrowdPooling V2 contracts audited by CertiK.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2022-12-12","event":"DODOFeeRouteProxy contract audited by Sherlock.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2023-07-01","event":"DODO V3 contracts audited by Sherlock.","source":"DODO Official Documentation","source_url":"https://docs.dodoex.io/en/home/security"},{"date":"2024-04-01","event":"DODO announces DODOchain, an omni-chain trading DEX initiative, as part of strategic pivot.","source":"Coin Bureau DODO DEX Review","source_url":"https://coinbureau.com/review/dodo-dex-review"},{"date":"2025-01-01","event":"DODO token vesting schedules fully complete; entire 1,000,000,000 token supply now circulating.","source":"Tokenomist DODO Unlock Events","source_url":"https://www.tokenomist.ai/dodo/unlock-events"}]},"v":1}