Verify a decision

{"actor":"system:backfill","investigation_id":"47573e12-ad56-4b23-b95f-87b3943a0a72","kind":"publish","page_slug":"renzo","published_at":"2026-05-18T23:35:01.020Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Renzo","sections":[{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]}],"sources_used":[],"summary":"Renzo Protocol is an Ethereum liquid restaking protocol that issues ezETH, serving as an interface to the EigenLayer ecosystem. In April 2024, ezETH suffered a severe depeg event — dropping as low as $700 in under one hour — triggered by an unpopular REZ tokenomics announcement that concentrated approximately 65% of supply with insiders and investors. The event caused over $56 million in DeFi liquidations affecting more than 250 users, and the REZ token has since lost approximately 97% of its all-time high value.","timeline":[{"date":"2024-01-15","event":"Renzo raises $3.2 million seed round led by Maven11 Capital with token warrants; begins rewarding users with points for minting ezETH","source":"","source_url":"https://www.coincarp.com/fundraising/renzo-seed/"},{"date":"2024-04-23","event":"Renzo announces REZ tokenomics on Binance, revealing only 5% allocated to initial airdrop and 65% to insiders/investors; community reacts with outrage over a misleading pie chart","source":"","source_url":"https://www.theblock.co/post/290709/renzos-ezeth-depegs-18-3-following-rez-tokenomics-announcement-on-binance"},{"date":"2024-04-24","event":"ezETH depegs to $700 on Uniswap (a ~79% decline in under one hour), triggering over $56 million in liquidations across Morpho (146 users, ~$23M) and Gearbox (115 users, ~$33M)","source":"","source_url":"https://protos.com/depeg-of-3b-restaking-token-ezeth-causes-over-60m-in-defi-liquidations/"},{"date":"2024-04-24","event":"Renzo team makes no public statement addressing ezETH depeg or user losses at time of event","source":"","source_url":"https://www.dlnews.com/articles/defi/renzos-ezeth-loses-ether-peg-drops-79-in-under-one-hour/"},{"date":"2024-04-28","event":"Renzo revises airdrop terms following community backlash: initial airdrop raised from 5% to 7%, community allocation from 30% to 32%, vesting added for large holders","source":"","source_url":"https://crypto.news/renzo-team-changes-airdrop-conditions-amid-community-criticism/"},{"date":"2024-04-30","event":"REZ token launches on Binance Launchpool and begins trading; debuts at approximately $289 million market cap","source":"","source_url":"https://www.coindesk.com/markets/2024/04/30/liquid-restaking-protocol-renzo-airdrops-rez-token-debuts-at-289m-market-cap"},{"date":"2024-05-08","event":"Code4rena audit concludes, reporting 8 high-severity and 14 medium-severity vulnerabilities in Renzo smart contracts","source":"","source_url":"https://code4rena.com/reports/2024-04-renzo"},{"date":"2024-06-18","event":"Renzo raises $17 million Series A led by Galaxy Ventures and Brevan Howard Digital Nova Fund","source":"","source_url":"https://www.theblock.co/post/300647/ethereum-restaking-protocol-renzo-raises-17-million"},{"date":"2024-07-22","event":"Renzo official Discord server compromised; phishing links posted claiming retroactive loyalty rewards; ZachXBT alerts community via Telegram","source":"","source_url":"https://www.cryptotimes.io/2024/07/22/renzo-discord-hacked-by-scammers-promoting-fake-tokens/"},{"date":"2025-01-01","event":"REZ token declines approximately 81.55% across 2024, continuing to approximately -84% in 2025; token trades roughly 97% below its all-time high","source":"","source_url":"https://coincodex.com/crypto/renzo-protocol/"}]},"v":1}