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{"actor":"system:backfill","investigation_id":"1056b75f-82b1-488c-ad72-1d1b7e5ad675","kind":"publish","page_slug":"origin-protocol","published_at":"2026-05-28T18:46:39.561Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Origin Protocol","sections":[{"content":"","heading":"","severity":"critical","sources":[{"credibility":3,"name":"https://www.coindesk.com/markets/2020/11/17/origin-protocol-loses-7m-in-latest-defi-attack","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/origin-protocol-emptied-7-million-latest-flash-loan-attack/","type":"other","url":""},{"credibility":3,"name":"https://peckshield.medium.com/origin-dollar-incident-root-cause-analysis-f27e11988c90","type":"other","url":""},{"credibility":3,"name":"https://blog.peckshield.com/2020/11/17/ousd/","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/48478/ethereum-based-origin-dollar-hacked-for-estimated-7-million","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/84804/defi-protocol-origin-attack-7-million-lost","type":"other","url":""}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":3,"name":"https://www.originprotocol.com/blog/what-weve-changed-since-the-ousd-attack?lang=en","type":"other","url":""},{"credibility":3,"name":"https://medium.com/originprotocol/what-weve-changed-since-the-ousd-attack-5894f2bd77cf","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/origin-protocol-relaunches-stablecoin-following-hack/","type":"other","url":""}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":3,"name":"https://blog.originprotocol.com/origin-dollar-ousd-detailed-compensation-plan-faa73f87442e","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/origin-protocol-begins-accepting-compensation-claims-following-7m-exploit","type":"other","url":""},{"credibility":3,"name":"https://medium.com/originprotocol/origin-delivers-on-compensation-promise-claim-your-ousd-and-ogn-now-a9fa9b840476","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2021/01/06/origin-brings-back-interest-earning-ousd-stablecoin-following-7m-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://github.com/OriginProtocol/security/blob/master/audits/Trail%20of%20Bits%20-%20Origin%20Dollar%20-%20Dec%202020.pdf","type":"other","url":""},{"credibility":3,"name":"https://medium.com/originprotocol/the-results-of-our-smart-contract-audit-with-trail-of-bits-and-how-we-approach-security-at-origin-175cc1646d71","type":"other","url":""},{"credibility":3,"name":"https://blog.openzeppelin.com/origin-dollar-audit","type":"other","url":""},{"credibility":3,"name":"https://docs.originprotocol.com/security-and-risk/audits","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptorank.io/ico/origin-protocol","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/origin-protocol/","type":"other","url":""},{"credibility":3,"name":"https://www.originprotocol.com/origin-2024-year-in-review","type":"other","url":""},{"credibility":3,"name":"https://chainbroker.io/projects/origin-protocol/","type":"other","url":""}]},{"content":"","heading":"","severity":"low","sources":[{"credibility":3,"name":"https://www.originprotocol.com/team","type":"other","url":""},{"credibility":3,"name":"https://blog.originprotocol.com/welcoming-yu-pan-to-the-origin-team-fcce3e3a2166","type":"other","url":""},{"credibility":3,"name":"https://canvasbusinessmodel.com/blogs/brief-history/origin-protocol-brief-history","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://messari.io/project/origin-protocol","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/origin-protocol/","type":"other","url":""},{"credibility":3,"name":"https://www.originprotocol.com/march-2025-token-holder-update","type":"other","url":""}]}],"sources_used":[{"credibility":1,"name":"CoinDesk: Origin Protocol Loses $7M in Latest DeFi Attack","type":"news_article","url":"https://www.coindesk.com/markets/2020/11/17/origin-protocol-loses-7m-in-latest-defi-attack"},{"credibility":2,"name":"CryptoBriefing: Origin Protocol Emptied of $7 million in Flash Loan Attack","type":"news_article","url":"https://cryptobriefing.com/origin-protocol-emptied-7-million-latest-flash-loan-attack/"},{"credibility":2,"name":"PeckShield: Origin Dollar Incident Root Cause Analysis","type":"research","url":"https://peckshield.medium.com/origin-dollar-incident-root-cause-analysis-f27e11988c90"},{"credibility":2,"name":"PeckShield Blog: OUSD Attack Technical Analysis","type":"research","url":"https://blog.peckshield.com/2020/11/17/ousd/"},{"credibility":2,"name":"Decrypt: Ethereum-based Origin Dollar Hacked for Estimated $7 Million","type":"news_article","url":"https://decrypt.co/48478/ethereum-based-origin-dollar-hacked-for-estimated-7-million"},{"credibility":1,"name":"The Block: DeFi protocol Origin gets attacked, loses $7 million","type":"news_article","url":"https://www.theblock.co/post/84804/defi-protocol-origin-attack-7-million-lost"},{"credibility":2,"name":"CoinTelegraph: Origin Protocol begins accepting compensation claims","type":"news_article","url":"https://cointelegraph.com/news/origin-protocol-begins-accepting-compensation-claims-following-7m-exploit"},{"credibility":2,"name":"Origin Protocol Blog: Detailed Compensation Plan","type":"official","url":"https://blog.originprotocol.com/origin-dollar-ousd-detailed-compensation-plan-faa73f87442e"},{"credibility":2,"name":"Origin Protocol Blog: Urgent OUSD Hack Disclosure","type":"official","url":"https://blog.originprotocol.com/urgent-ousd-has-hacked-and-there-has-been-a-loss-of-funds-7b8c4a7d534c"},{"credibility":2,"name":"Origin Protocol: What We've Changed Since the OUSD Attack","type":"official","url":"https://www.originprotocol.com/blog/what-weve-changed-since-the-ousd-attack?lang=en"},{"credibility":2,"name":"Origin Medium: What We've Changed Since the OUSD Attack","type":"official","url":"https://medium.com/originprotocol/what-weve-changed-since-the-ousd-attack-5894f2bd77cf"},{"credibility":1,"name":"CoinDesk: Origin Brings Back Interest-Earning OUSD Following $7M Hack","type":"news_article","url":"https://www.coindesk.com/business/2021/01/06/origin-brings-back-interest-earning-ousd-stablecoin-following-7m-hack"},{"credibility":2,"name":"Origin Medium: Origin Delivers on Compensation Promise","type":"official","url":"https://medium.com/originprotocol/origin-delivers-on-compensation-promise-claim-your-ousd-and-ogn-now-a9fa9b840476"},{"credibility":1,"name":"GitHub: Trail of Bits Audit - Origin Dollar Dec 2020","type":"research","url":"https://github.com/OriginProtocol/security/blob/master/audits/Trail%20of%20Bits%20-%20Origin%20Dollar%20-%20Dec%202020.pdf"},{"credibility":1,"name":"OpenZeppelin: Origin Dollar Audit","type":"research","url":"https://blog.openzeppelin.com/origin-dollar-audit"},{"credibility":2,"name":"Origin Docs: Audits","type":"official","url":"https://docs.originprotocol.com/security-and-risk/audits"},{"credibility":2,"name":"CryptoRank: Origin Protocol ICO Details","type":"other","url":"https://cryptorank.io/ico/origin-protocol"},{"credibility":2,"name":"CoinMarketCap: Origin Protocol","type":"other","url":"https://coinmarketcap.com/currencies/origin-protocol/"},{"credibility":2,"name":"Origin Protocol: 2024 Year in Review","type":"official","url":"https://www.originprotocol.com/origin-2024-year-in-review"},{"credibility":2,"name":"Origin Protocol Team Page","type":"official","url":"https://www.originprotocol.com/team"},{"credibility":2,"name":"Origin Protocol Blog: Welcoming Yu Pan","type":"official","url":"https://blog.originprotocol.com/welcoming-yu-pan-to-the-origin-team-fcce3e3a2166"},{"credibility":2,"name":"Messari: Origin Protocol","type":"research","url":"https://messari.io/project/origin-protocol"}],"summary":"Origin Protocol is a San Francisco-based DeFi and NFT platform founded in 2017 by Josh Fraser and Matthew Liu, best known for its yield-bearing stablecoin Origin Dollar (OUSD) and Origin Ether (OETH). In November 2020, before completing any security audit, OUSD was exploited via a reentrancy flash-loan attack resulting in approximately $7.7 million in losses including over $1 million from the team's own treasury. The protocol subsequently completed multiple audits, compensated affected users, and relaunched; it has continued operating with expanded DeFi yield products through 2025, though the OGN token trades at a fraction of its 2021 all-time high.","timeline":[{"date":"2017-01-01","event":"Origin Protocol founded in San Francisco by Josh Fraser and Matthew Liu.","source":""},{"date":"2018-06-18","event":"Origin Protocol conducts public ICO on CoinList, raising $6.6 million at $0.1364 per OGN token.","source":""},{"date":"2020-09-01","event":"Origin Dollar (OUSD) yield-bearing stablecoin launches on Ethereum mainnet without a completed security audit.","source":""},{"date":"2020-11-17","event":"OUSD exploited via reentrancy flash-loan attack; approximately $7.7 million (11,804 ETH and 2,249,821 DAI) stolen. OUSD price collapses 85% to ~$0.14. Attacker launders funds via Tornado.cash and renBTC.","source":""},{"date":"2020-11-17","event":"Origin co-founders disclose team and treasury lost over $1 million in the exploit. Trail of Bits audit was in progress but not yet completed at time of attack.","source":""},{"date":"2020-12-01","event":"Trail of Bits completes OUSD audit, identifying the critical reentrancy vulnerability and several minor issues. Solidified conducts additional audit of full system.","source":""},{"date":"2020-12-01","event":"Origin Protocol announces detailed compensation plan: full OUSD reimbursement for smaller depositors; 25% OUSD + 75% locked OGN for larger depositors, with 25% annual interest.","source":""},{"date":"2021-01-06","event":"Origin Protocol relaunches OUSD stablecoin with reentrancy guards and post-exploit security improvements following Trail of Bits and Solidified audits.","source":""},{"date":"2021-01-20","event":"Origin opens compensation claims portal for the 700+ affected OUSD depositors. 90-day claim window set to close April 20, 2021.","source":""},{"date":"2021-04-08","event":"OGN token reaches all-time high of approximately $3.39.","source":""},{"date":"2023-05-01","event":"Origin Ether (OETH) launches, using ~95% of OUSD's audited codebase to generate yield on ETH via liquid staking.","source":""},{"date":"2024-07-01","event":"Super OETH launches on Base blockchain, achieving top-10 TVL position on the network. Origin distributes over $6.4 million in yield to product users in 2024.","source":""},{"date":"2025-08-01","event":"Origin launches Origin Vault in partnership with Levva, a diversified ETH yield strategy targeting up to ~23% APY.","source":""}]},"v":1}