Verify a decision

{"actor":"system:backfill","investigation_id":"f0db1a5c-4a43-41b2-9a04-5089226b61ac","kind":"publish","page_slug":"bonqdao","published_at":"2026-05-28T16:22:14.792Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"BonqDAO","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/bonq-rekt","type":"other","url":""},{"credibility":3,"name":"https://blocksec.com/blog/bonq-dao-exploited-on-polygon-120-m-stolen-due-to-flawed-logic","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-bonqdao-hack-february-2023","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/insights/bonqdao-hack/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/immunefi/hack-analysis-bonqdao-february-2023-ef6aab0086d6","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/bonq-rekt","type":"other","url":""},{"credibility":3,"name":"https://omniscia.io/reports/bonq-borrowing-protocol/","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/insights/bonqdao-hack/","type":"other","url":""},{"credibility":3,"name":"https://blockapex.io/bonqdao-hack-analysis/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/lack-of-liquidity-mitigated-damages-to-bonqdao-exploit-report","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2023/02/01/allianceblock-token-plunges-51-after-5m-exploit","type":"other","url":""},{"credibility":3,"name":"https://medium.com/allianceblock/allianceblock-issues-statement-in-response-to-bonqdao-hack-6510a61fcf5c","type":"other","url":""},{"credibility":3,"name":"https://blocksec.com/blog/bonq-dao-exploited-on-polygon-120-m-stolen-due-to-flawed-logic","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/bonqdao","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://blog.3adao.org/introducing-bonqdao-2-0-our-journey-to-relaunch-the-protocol-2f761dffc024","type":"other","url":""},{"credibility":3,"name":"https://www.3adao.org","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/bonqdao","type":"other","url":""},{"credibility":3,"name":"https://medium.com/allianceblock/allianceblock-issues-statement-in-response-to-bonqdao-hack-6510a61fcf5c","type":"other","url":""},{"credibility":3,"name":"https://paragraph.com/@bonqdaoblog","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.linkedin.com/in/michalbacia/","type":"other","url":""},{"credibility":3,"name":"https://theorg.com/org/finsera/org-chart/delia-sabau","type":"other","url":""},{"credibility":3,"name":"https://www.youtube.com/watch?v=3CWUGMVwcFw","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/bonq-rekt","type":"other","url":""},{"credibility":3,"name":"https://blocksec.com/blog/bonq-dao-exploited-on-polygon-120-m-stolen-due-to-flawed-logic","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/insights/bonqdao-hack/","type":"other","url":""}]}],"sources_used":[{"credibility":2,"name":"BonqDAO — REKT News","type":"news_article","url":"https://rekt.news/bonq-rekt"},{"credibility":2,"name":"BonqDAO Exploited on Polygon: $120M Stolen Due to Flawed Logic — BlockSec","type":"research","url":"https://blocksec.com/blog/bonq-dao-exploited-on-polygon-120-m-stolen-due-to-flawed-logic"},{"credibility":2,"name":"Explained: The BonqDAO Hack (February 2023) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-bonqdao-hack-february-2023"},{"credibility":2,"name":"The BonqDAO Price Oracle Hack Explained — Hacken","type":"research","url":"https://hacken.io/insights/bonqdao-hack/"},{"credibility":2,"name":"Hack Analysis: BonqDAO, February 2023 — Immunefi","type":"research","url":"https://medium.com/immunefi/hack-analysis-bonqdao-february-2023-ef6aab0086d6"},{"credibility":1,"name":"AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2023/02/01/allianceblock-token-plunges-51-after-5m-exploit"},{"credibility":1,"name":"Lack of liquidity mitigated damages to BonqDAO exploit: Report — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/lack-of-liquidity-mitigated-damages-to-bonqdao-exploit-report"},{"credibility":2,"name":"AllianceBlock Issues Statement in Response to BonqDAO Hack — AllianceBlock/Nexera Medium","type":"official","url":"https://medium.com/allianceblock/allianceblock-issues-statement-in-response-to-bonqdao-hack-6510a61fcf5c"},{"credibility":2,"name":"Omniscia Bonq Borrowing Protocol Audit","type":"research","url":"https://omniscia.io/reports/bonq-borrowing-protocol/"},{"credibility":2,"name":"BonqDAO TVL — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/bonqdao"},{"credibility":2,"name":"Introducing 3A DAO: Our Journey to Relaunch the Protocol","type":"official","url":"https://blog.3adao.org/introducing-bonqdao-2-0-our-journey-to-relaunch-the-protocol-2f761dffc024"},{"credibility":2,"name":"BonqDAO Hack Analysis — BlockApex","type":"research","url":"https://blockapex.io/bonqdao-hack-analysis/"},{"credibility":3,"name":"Michal Bacia LinkedIn — Chief Economist at BonqDAO","type":"other","url":"https://www.linkedin.com/in/michalbacia/"},{"credibility":3,"name":"Delia Sabau — The Org (Finsera Advisor profile)","type":"other","url":"https://theorg.com/org/finsera/org-chart/delia-sabau"}],"summary":"BonqDAO was a Polygon-based decentralized lending protocol that launched in December 2022, offering zero-interest borrowing against crypto collateral with a native euro-pegged stablecoin (BEUR). On February 1, 2023, the protocol suffered a critical oracle manipulation exploit in which an attacker staked approximately $175 worth of TRB tokens to manipulate the Tellor price feed for the WALBT collateral token, minting 100 million BEUR against near-zero collateral and liquidating other users for an additional 113 million WALBT, resulting in nominal losses of approximately $120 million. BonqDAO's TVL fell by over 99% following the attack; a successor protocol (3A DAO) was subsequently launched by the team but BonqDAO itself remains effectively defunct.","timeline":[{"date":"2022-12-15","event":"BonqDAO launches on Polygon as a zero-interest lending protocol with BEUR euro-pegged stablecoin.","source":""},{"date":"2023-02-01","event":"Attacker (0xcacf2d28b2a5309e099f0c6e8c60ec3ddf656642) manipulates TellorFlex oracle for WALBT, minting 100 million BEUR and liquidating 30+ user troves to collect 113.8 million WALBT. Nominal losses estimated at $120 million.","source":""},{"date":"2023-02-01","event":"AllianceBlock pauses bridge activity and issues public statement clarifying its own contracts were not breached. ALBT token price falls more than 51%.","source":""},{"date":"2023-02-03","event":"Attacker begins laundering approximately 1,105 ETH through Tornado Cash. BEUR falls to $0.15 low.","source":""},{"date":"2023-02-03","event":"BonqDAO's TVL falls from approximately $13 million to under $44,000 — a 99.6% decline.","source":""},{"date":"2023-02-27","event":"BonqDAO launches community governance vote on protocol recovery plan.","source":""},{"date":"2023-03-05","event":"BNQ governance vote concludes with community support for reboot and executive team. AllianceBlock begins ALBT airdrop compensation for affected users.","source":""},{"date":"2023-05-17","event":"Team publishes announcement of 3A DAO as successor lending protocol, describing the relaunch journey.","source":""},{"date":"2024-02-16","event":"3A DAO announces collaboration with Constellation Network (DAG), indicating continued successor protocol development.","source":""}]},"v":1}