Verify a decision

{"actor":"system:backfill","investigation_id":"c25b7ed2-b6ed-408c-a13a-d20999d0edd3","kind":"publish","page_slug":"makina","published_at":"2026-05-26T19:42:44.439Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Makina Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2026/01/20/makina-finance-exploit-drains-1299-eth-in-major-defi-hack/","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/355132/ethereum-defi-platform-makina-hit-by-flash-loan-exploit-loses-4m-in-eth","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://medium.com/coinmonks/makinas-4m-hack-8afca700c00c","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://docs.makina.finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://x.com/makinafi/status/2014349539847573565","type":"other","url":""},{"credibility":3,"name":"https://coinheadlines.com/news/makinafi-starts-fund-recovery-process-after-exploit-here-is-how/article-26554/","type":"other","url":""},{"credibility":3,"name":"https://www.quillaudits.com/blog/hack-analysis/makina-4m-hack-explained","type":"other","url":""},{"credibility":3,"name":"https://phemex.com/news/article/makina-finance-demands-return-of-513994-usdc-from-exploit-profits-55868","type":"other","url":""},{"credibility":3,"name":"https://medium.com/coinmonks/makinas-4m-hack-8afca700c00c","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://app.makina.finance/strategy/DUSD","type":"other","url":""},{"credibility":3,"name":"https://makinafi.substack.com/p/operator-deep-dive-dialectic","type":"other","url":""},{"credibility":3,"name":"https://cyber.fund/content/makina-the-defi-execution-engine","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/makina-incident-analysis","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.cmointern.com/2025/06/makina-finance-raises-3m-to-power.html?m=1","type":"other","url":""},{"credibility":3,"name":"https://www.cypherhunter.com/en/e/makina-finance-raised-funding-2025-06-25/","type":"other","url":""},{"credibility":3,"name":"https://crypto-fundraising.info/projects/makina/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/makina-rekt","type":"other","url":""},{"credibility":3,"name":"https://coinalertnews.com/news/2026/01/20/defi-protocol-makinafi-4m-exploit","type":"other","url":""},{"credibility":3,"name":"https://www.ainvest.com/news/rising-risks-defi-makina-finance-hack-implications-crypto-security-2601/","type":"other","url":""}]}],"sources_used":[],"summary":"Makina Finance is a non-custodial DeFi execution engine that launched in late 2025 on Ethereum, enabling automated yield strategies via tokenized vaults called Machines. On January 20, 2026, the protocol suffered a $4.13 million oracle manipulation exploit targeting its DUSD/USDC Curve stableswap pool, despite having completed six independent security audits in the months prior. The team recovered approximately $3.65 million (89% of user losses) within one week and resumed operations on January 26, 2026, though a residual 11% shortfall remained subject to a revenue-share restitution plan.","timeline":[{"date":"2025-06-25","event":"Makina Finance raises $3 million in strategic funding from Hypernative Labs, Kiln, Bodhi Ventures, Cyber Fund, and other angels.","source":""},{"date":"2025-07-01","event":"Enigma Dark completes fuzz/invariant testing audit of Makina Core.","source":""},{"date":"2025-08-01","event":"SigmaPrime completes audit of Makina Core and Makina Periphery.","source":""},{"date":"2025-09-01","event":"ChainSecurity completes audits of Makina Core and Makina Periphery. Enigma Dark audits Makina Periphery and Machine Share Oracle.","source":""},{"date":"2025-10-15","event":"Cantina capture-the-flag security assessment ends. Out-of-scope exclusion explicitly lists oracle price manipulation via unchecked synchronous deposit — the exact vector later used in the exploit.","source":""},{"date":"2025-10-27","event":"Dialectic (first Operator on Makina) deploys DUSD into Curve pools, introducing the oracle integration vulnerability into live production.","source":""},{"date":"2025-11-01","event":"OtterSec completes Makina security assessment.","source":""},{"date":"2026-01-20","event":"At 03:40:35 UTC (block 24,273,362), attacker exploits MachineShareOracle via $280M flash loan to drain 1,299 ETH (~$4.13M) from the DUSD/USDC Curve pool. MEV searcher front-runs the transaction, capturing the majority of stolen funds.","source":""},{"date":"2026-01-20","event":"Makina activates security mode on all smart vaults and advises LPs to withdraw from the DUSD Curve pool. Team engages SEAL911 and security firms.","source":""},{"date":"2026-01-22","event":"MEV builder returns 920 ETH under SEAL Whitehat Safe Harbor framework (10% bounty retained). Rocket Pool validator returns 157.1 ETH. Makina posts confirmation on X.","source":""},{"date":"2026-01-26","event":"Protocol resumes full normal operations following post-exploit patch audit by ChainSecurity. 89% of users fully recovered; 11% subject to revenue-share restitution plan.","source":""}]},"v":1}