Verify a decision

{"actor":"system:backfill","investigation_id":"3158155c-6640-4d25-b0b1-46733799554e","kind":"publish","page_slug":"blueberry","published_at":"2026-05-27T18:12:36.486Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"BlueBerry Protocol","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@blueberryprotocol/2-22-24-exploit-post-mortem-6f6be7c1dcc3","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/defi-protocol-blueberry-pauses-after-exploit","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/white-hat-saves-million-defi-exploit/","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/blueberry-protocol-narrowly-avoids-1-3-million-hack","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.com/news/blueberry-defi-protocol-suspends-lending-services-after-1-3m-exploit/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@blueberryprotocol/2-22-24-exploit-post-mortem-6f6be7c1dcc3","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/blueberry-protocol-narrowly-avoids-1-3-million-hack","type":"other","url":""},{"credibility":3,"name":"https://bsc.news/post/defi-platform-blueberry-halts-operations-following-exploitation-attempt-what-happened","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://beincrypto.com/white-hat-saves-million-defi-exploit/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@blueberryprotocol/2-22-24-exploit-post-mortem-6f6be7c1dcc3","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/242136/mev-bot-runner-c0ffeebabe-eth-returns-5-4-million-amid-curve-exploit","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.com/news/blueberry-defi-protocol-suspends-lending-services-after-1-3m-exploit/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://github.com/sherlock-audit/2023-02-blueberry-judging","type":"other","url":""},{"credibility":3,"name":"https://github.com/sherlock-audit/2023-07-blueberry-judging","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/audits/blueberry-protocol/","type":"other","url":""},{"credibility":3,"name":"https://hackmd.io/@brainbot-services/recap_blueberry","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@blueberryprotocol/re-launch-security-update-49442502ec67","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@blueberryprotocol/2-22-24-exploit-post-mortem-6f6be7c1dcc3","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@blueberryprotocol/blueberry-tokenomics-and-token-generation-event-lockdrop-airdrop-1ac267d30092","type":"other","url":""},{"credibility":3,"name":"https://cryptorank.io/ico/blueberry-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.binance.com/en/square/post/2024-02-24-blueberry-protocol-to-compensate-users-after-vulnerability-attack-4536854784242","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@blueberryprotocol/team-behind-blueberry-raises-1-2m-to-enable-capital-efficient-borrowing-on-ethereum-f1aef0a25023","type":"other","url":""},{"credibility":3,"name":"https://www.finsmes.com/2024/06/blueberry-protocol-raises-2-5m-series-a-funding.html","type":"other","url":""},{"credibility":3,"name":"https://www.crunchbase.com/organization/blueberry-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.linkedin.com/in/bailey-spraggins/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/blueberry-protocol-narrowly-avoids-1-3-million-hack","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/defi-protocol-blueberry-pauses-after-exploit","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/blueberry","type":"other","url":""},{"credibility":3,"name":"https://v1.docs.blueberry.garden/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@blueberryprotocol/re-launch-security-update-49442502ec67","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@blueberryprotocol/blueberrys-security-first-approach-to-generalized-leverage-765c42dcd748","type":"other","url":""}]}],"sources_used":[],"summary":"Blueberry Protocol is an Ethereum-based decentralized leveraged yield farming and prime brokerage protocol developed by Composable Corp. In February 2024, the protocol suffered a significant exploit caused by an oracle misconfiguration that allowed a flash loan attacker to drain approximately 457.7 ETH (~$1.35M) from three lending markets; most funds were rescued by white hat MEV operator c0ffeebabe.eth but ~91 ETH (~$265,000) was permanently lost to validator payments. Despite completing multiple Sherlock and Hacken audits and raising $2.5M in a June 2024 Series A, the protocol's security track record and history of audit findings raise material concerns for prospective users.","timeline":[{"date":"2023-02-01","event":"Sherlock audit contest #1 (2023-02-blueberry) identifies high-severity issues including ineffective deadline checks and oracle staleness vulnerabilities.","source":""},{"date":"2023-04-01","event":"Sherlock audit contest #2 (2023-04-blueberry) identifies sandwich attack risks in IchiVaultSpell and ConvexSpell withdrawals.","source":""},{"date":"2023-05-01","event":"Sherlock audit contest #3 (2023-05-blueberry) conducted.","source":""},{"date":"2023-07-01","event":"Sherlock audit contest #4 (2023-07-blueberry) conducted.","source":""},{"date":"2024-01-29","event":"BLB token lockdrop campaign begins on Ethereum mainnet, offering 5% of total BLB supply to early lenders over a 56-day period.","source":""},{"date":"2024-02-22","event":"At 08:36 UTC, borrowing functionality in the new money market is activated prematurely — before the intended Monday launch of borrowing strategies. The money market is using CoreOracle, an incorrect oracle that prices assets with fewer than 18 decimals severely below market value.","source":""},{"date":"2024-02-23","event":"At 02:22 UTC, an attacker executes a flash loan attack using 1 WETH from Balancer, exploiting the oracle misconfiguration to drain 8,616 OHM, 913,263 USDC, and 6.87 WBTC across three lending markets, totaling 457.684 ETH (~$1.35M). c0ffeebabe.eth front-runs the attacker and routes 366.6 ETH to the Blueberry multisig. ~91 ETH is permanently lost to validator payments.","source":""},{"date":"2024-02-23","event":"Blueberry Protocol Foundation announces exploit on X (formerly Twitter), pauses all lending operations, and advises users to withdraw from lending markets.","source":""},{"date":"2024-02-24","event":"Blueberry Foundation publishes initial recovery statement committing to 100% repayment of affected lenders. Community TGE allocation increased from 5% to 10% of total supply as additional compensation for affected users.","source":""},{"date":"2024-02-25","event":"Post-mortem published confirming oracle misconfiguration as root cause. Composable Corp pays 10% bounty on recovered funds to c0ffeebabe.eth and collaborators.","source":""},{"date":"2024-03-01","event":"Post-exploit audits commissioned from Spearbit, 0x52, and Cuthalion0x. Results find no additional high-severity vulnerabilities threatening user funds beyond the oracle fix.","source":""},{"date":"2024-06-04","event":"Blueberry Protocol raises $2.5M Series A funding led by White Star Capital, with participation from Varys Capital, SNZ Capital, Alchemix DAO, and others.","source":""},{"date":"2024-06-05","event":"BLB token IDO opens, running through June 10, 2024, raising approximately $190,000 at $0.0194 per BLB.","source":""}]},"v":1}