Verify a decision

{"actor":"system:backfill","investigation_id":"5475bb6c-6b45-406c-9916-785317b085b9","kind":"publish","page_slug":"grim-finance","published_at":"2026-05-21T03:21:08.420Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Grim Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2021/12/20/fantom-defi-project-grim-finance-exploited-for-30m","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/defi-protocol-grim-finance-lost-30m-in-5x-reentrancy-hack","type":"other","url":""},{"credibility":3,"name":"https://slowmist.medium.com/analysis-of-the-grim-finance-hack-bc440108b069","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-grim-finance-hack-december-2021","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/grimfinancereentrancyattack.php","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptonews.net/news/security/2913195/","type":"other","url":""},{"credibility":3,"name":"https://www.technologyforyou.org/30-million-stolen-from-defi-protocol-grim-finance-audit-firm-apologizes-for-missing-vulnerability/","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-grim-finance-hack-december-2021","type":"other","url":""},{"credibility":3,"name":"https://www.defisafety.com/app/pqrs/423","type":"other","url":""},{"credibility":3,"name":"https://sourcehat.com/audits/GrimVaultV2/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2021/12/20/fantom-defi-project-grim-finance-exploited-for-30m","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/88727/grim-finance-hacked-30-million-fantom-tokens","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/grimfinancereentrancyattack.php","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@grimfinance11/grim-finance-update-to-exploit-15226e6df736","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/grimfinancereentrancyattack.php","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/grim-finance","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/grim-finance","type":"other","url":""},{"credibility":3,"name":"https://www.vidma.io/blog/the-grim-reaper-strikes-unraveling-the-30-million-grim-finance-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2021/12/20/fantom-defi-project-grim-finance-exploited-for-30m","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-grim-finance-hack-december-2021","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/grim-finance","type":"other","url":""},{"credibility":3,"name":"https://www.defisafety.com/app/pqrs/423","type":"other","url":""}]}],"sources_used":[],"summary":"Grim Finance was a Fantom-based DeFi yield optimizer (fork of Beefy Finance) that suffered a devastating reentrancy exploit on December 19, 2021, resulting in approximately $30 million in user funds stolen. The vulnerability — a missing reentrancy guard in the depositFor() function — had existed in an audited codebase and was classified by security researchers as an entirely preventable, well-understood attack class. The protocol has since collapsed to a near-zero TVL of roughly $29,000 and its proposed compensation plan yielded no meaningful restitution for affected users.","timeline":[{"date":"2021-08-01","event":"Solidity Finance conducts a smart contract audit of Grim Finance, approximately four months before the exploit. A new analyst performs the review while the firm's CTO is on vacation; the reentrancy vulnerability in depositFor() is not flagged.","source":""},{"date":"2021-12-19","event":"Attacker (address: 0xdefc385d7038f391eb0063c2f7c238cfb55b206c) exploits the GrimBoostVault depositFor() reentrancy vulnerability using a flash loan and a malicious token contract, draining approximately $30 million from Grim Finance vaults on Fantom.","source":""},{"date":"2021-12-19","event":"Grim Finance team pauses all vaults approximately six hours after the attack begins. The team notifies Circle (USDC), MakerDAO (DAI), and AnySwap to freeze attacker-linked addresses. The attacker has already begun converting and bridging stolen assets.","source":""},{"date":"2021-12-19","event":"Grim Finance TVL collapses from approximately $98.9 million to $4.2 million. The GRIM token falls approximately 81%, from $0.80 to $0.15. Rugdoc.io and other security watchdogs publicly criticize the lack of a basic reentrancy guard.","source":""},{"date":"2021-12-20","event":"Solidity Finance issues a public statement acknowledging the missed vulnerability, attributing it to internal organizational stress and a new analyst performing the review. CoinDesk, CoinTelegraph, and Decrypt report on the breach.","source":""},{"date":"2021-12-20","event":"Attacker alleged to have deposited approximately $3.3 million of stolen funds into Tornado Cash mixer, with additional funds bridged from Fantom to Ethereum mainnet via stablecoin conversions.","source":""},{"date":"2021-12-31","event":"Grim Finance publishes post-mortem and compensation plan announcing a new token airdrop (50% of platform revenues), 0.2% insurance fund, and NFT airdrops from partner Pod Town. Affected users must submit claims by January 7, 2022.","source":""},{"date":"2022-01-07","event":"Claim submission deadline for hack victims passes. No public reporting confirms material restitution was subsequently delivered.","source":""},{"date":"2022-03-17","event":"DeFiSafety publishes a Process Quality Review rating Grim Finance at 24% with a FAIL designation, citing inadequate security processes.","source":""},{"date":"2022-08-08","event":"U.S. Treasury OFAC sanctions Tornado Cash, the mixer allegedly used to launder a portion of the Grim Finance stolen funds.","source":""},{"date":"2026-05-01","event":"Grim Finance TVL sits at approximately $28,759 across six chains per DeFiLlama, reflecting a functionally abandoned protocol. No meaningful development activity or community engagement has been identified since early 2022.","source":""}]},"v":1}