Verify a decision

{"actor":"system:backfill","investigation_id":"876abe1a-d84c-4e4d-a26d-a8f1b014cb63","kind":"publish","page_slug":"alpha-finance","published_at":"2026-05-22T04:05:31.546Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Alpha Finance Lab","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/markets/2021/02/13/defi-protocols-cream-finance-alpha-exploited-in-flash-loan-attack-375m-lost","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-alpha-homora-defi-hack-feb-2021","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/alpha-finance-rekt","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/alpha-homora-v2-post-mortem/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/cream-finance/alpha-homora-v2-exploit-post-mortem-344d277bdea6","type":"other","url":""},{"credibility":3,"name":"https://slowmist.medium.com/slowmist-an-analysis-of-the-attack-on-alpha-finance-cream-exploit-723c536c36b8","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/alpha-homora-loses-37-million-following-iron-bank-exploit","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/alpha-finance-rekt","type":"other","url":""},{"credibility":3,"name":"https://nodesblock.com/news/review-of-the-37-5-million-theft-of-alpha-finance-hackers-have-inside-information/","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/markets/2021/02/13/defi-protocols-cream-finance-alpha-exploited-in-flash-loan-attack-375m-lost","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/alpha-homora-v2-post-mortem/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/iron-alpha","type":"other","url":""},{"credibility":3,"name":"https://medium.com/cream-finance/joint-announcement-on-funds-repayment-a7d63870f7d6","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/joint-announcement-on-funds-repayment/","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/216536/iron-bank-freezes-alpha-homora-lending-accounts-over-bad-debt-dispute","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/216832/iron-bank-tells-alpha-homora-to-take-ownership-of-its-bad-debt","type":"other","url":""},{"credibility":3,"name":"https://www.dlnews.com/articles/defi/defi-partners-clash-over-32m-bad-debt-iron-bank-alpha-homora/","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/an-open-letter-to-iron-bank/","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/alpha-homora-cedes-32m-user-funds-iron-bank","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.openzeppelin.com/news/alpha-homora-v2","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/alpha-homora-v2-has-been-audited-by-openzeppelin/","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/alpha-finance-lab-bug-bounty-live-on-immunefi-with-additional-bounty-from-armor/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://invezz.com/news/2022/03/31/alpha-finance-lab-rebrands-to-alpha-venture-dao-to-support-decentralised-web3-innovation/","type":"other","url":""},{"credibility":3,"name":"https://blog.alphaventuredao.io/alpha-finance-lab-rebrands-expands-into-alpha-venture-dao-to-disrupt-web3-ecosystem/","type":"other","url":""},{"credibility":3,"name":"https://www.kucoin.com/news/en-kucoin-supports-the-alpha-finance-lab-alpha-rebranding-20230608","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/alpha-finance-lab/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.binance.com/en/blog/all/Binance-Launchpad-Alpha-Finance-Lab-Sale-Results-421499824684901080","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/alpha-finance-lab/","type":"other","url":""},{"credibility":3,"name":"https://walletinvestor.com/forecast/alpha-finance-lab-prediction","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[]}],"sources_used":[],"summary":"Alpha Finance Lab (later rebranded to Alpha Venture DAO, then Stella) is a DeFi protocol best known for its leveraged yield farming product Alpha Homora. On February 13, 2021, Alpha Homora V2 was exploited for approximately $37.5 million via a sophisticated attack that required insider knowledge of an unannounced smart contract, draining funds from its Iron Bank (Cream Finance) integration. By March 2023, the protocol had repaid less than 2% of the resulting $32 million debt to Iron Bank despite a formal repayment agreement, triggering a second crisis in which user funds were frozen.","timeline":[{"date":"2020-10-08","event":"ALPHA token launches on Binance Launchpad at $0.02, raising $2M USD from 8,736 winners.","source":""},{"date":"2021-01-01","event":"Iron Bank (protocol-to-protocol lending) is established as a spin-off of Cream Finance, enabling undercollateralized borrowing for whitelisted protocols including Alpha Homora.","source":""},{"date":"2021-02-13","event":"Alpha Homora V2 is exploited for approximately $37.5 million via nine transactions chaining four smart contract vulnerabilities, including an unannounced sUSD pool. Funds drained from Cream Finance's Iron Bank.","source":""},{"date":"2021-02-13","event":"Alpha Finance states they have 'a prime suspect' and 'already' know the likely identity of the attacker. No name is ever publicly disclosed.","source":""},{"date":"2021-02-14","event":"Joint repayment agreement announced: Alpha Homora commits to 20% of protocol fee reserves monthly toward Iron Bank debt; 50M ALPHA tokens locked as 2x collateral in time-locked escrow.","source":""},{"date":"2021-04-09","event":"OpenZeppelin completes post-remediation audit of Alpha Homora V2, finding zero critical and one high-severity issue.","source":""},{"date":"2022-03-31","event":"Alpha Finance Lab rebrands to Alpha Venture DAO, repositioning as a Web3 builder and decentralized venture DAO.","source":""},{"date":"2023-03-01","event":"Iron Bank freezes Alpha Homora user lending accounts after Alpha has repaid only ~$481K of $32.4M debt over two years. ALPHA token collateral worth approximately $6M against $32M debt.","source":""},{"date":"2023-03-02","event":"Outstanding Alpha Homora debt to Iron Bank confirmed at $31,947,429.","source":""},{"date":"2023-03-05","event":"Iron Bank deadline passes without resolution. Alpha Homora proposes Iron Bank retain ~$32M in user funds and return ~$8.7M excess.","source":""},{"date":"2023-06-01","event":"Alpha Venture DAO depositors vote to stop negotiating with Iron Bank and pursue legal action. Project rebrands again to Stella, launching on Arbitrum.","source":""}]},"v":1}