Verify a decision

{"actor":"system:backfill","investigation_id":"8748bbad-08ea-40ed-9e62-add2d3a037e6","kind":"publish","page_slug":"onyx-v2","published_at":"2026-05-28T03:28:45.352Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Onyx V2","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://hacken.io/discover/onyx-protocol-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.gate.com/learn/articles/what-is-onyx-protocol-all-you-need-to-know-about-xcn/4336","type":"other","url":""},{"credibility":3,"name":"https://onyx-dao.gitbook.io/onyx-dao/resources/the-onyx-dao-team/","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/post-mortem-onyx-protocol","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/onyx-protocol-rekt","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/discover/onyx-protocol-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-onyx-protocol-hack-october-2023","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2023/11/01/onyx-protocol-lost-2-1-million-in-a-latest-exploit/","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/post-mortem-onyx-protocol","type":"other","url":""},{"credibility":3,"name":"https://www.merklescience.com/blog/onyx-protocol-hack-flow-of-funds-analysis","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/onyx-protocol-rekt2","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-onyx-protocol-hack-september-2024","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/318499/defi-protocol-onyx-hit-with-a-3-2-million-exploit-marking-second-attack-within-a-year","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/onyx-protocol-preventable-hack/","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/vusd-stablecoin-depegs-after-usd3-8-million-exploit-of-onyxdao","type":"other","url":""},{"credibility":3,"name":"https://dailyhodl.com/2024/09/27/decentralized-web3-project-onyx-hacked-for-3800000-worth-of-crypto-peckshield/","type":"other","url":""},{"credibility":3,"name":"https://www.aicoin.com/en/article/420947","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-onyx-protocol-hack-september-2024","type":"other","url":""},{"credibility":3,"name":"https://beincrypto.com/onyx-protocol-preventable-hack/","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/discover/onyx-protocol-hack/","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/onyx-protocol-rekt2","type":"other","url":""},{"credibility":3,"name":"https://metatrust.io/blogs/post/how-onyxs-governance-and-vulnerability-became-hackers-golden-shovels","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://community.onyx.org/t/oip-46-relaunch-onyx-core/1795","type":"other","url":""},{"credibility":3,"name":"https://coincodecap.com/onyx-set-to-relaunch-after-3-8-million-hack-backed-by-community-vote","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/onyx-core-relaunch-after-3-8m-hack","type":"other","url":""},{"credibility":3,"name":"https://www.cryptopolitan.com/onyx-to-relaunch-onyx-core-after-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.bitget.com/news/detail/12560604240361","type":"other","url":""},{"credibility":3,"name":"https://www.cryptonewsnavigator.com/academy/article/onyxcoin-survival-thesis","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://coinmarketcap.com/currencies/onyxcoin/","type":"other","url":""},{"credibility":3,"name":"https://coingecko.com/en/coins/onyxcoin","type":"other","url":""},{"credibility":3,"name":"https://coingape.com/heres-why-onyxcoin-xcn-price-skyrockets-800-in-weeks/","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/vusd-stablecoin-depegs-after-usd3-8-million-exploit-of-onyxdao","type":"other","url":""},{"credibility":3,"name":"https://www.cryptonewsnavigator.com/academy/article/onyxcoin-price-prediction-survival-thesis","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/onyx-protocol-rekt","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/discover/onyx-protocol-hack/","type":"other","url":""},{"credibility":3,"name":"https://metatrust.io/blogs/post/how-onyxs-governance-and-vulnerability-became-hackers-golden-shovels","type":"other","url":""},{"credibility":3,"name":"https://onyx-dao.gitbook.io/onyx-dao/resources/the-onyx-dao-team/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://coinmarketcap.com/cmc-ai/onyxcoin/latest-updates/","type":"other","url":""},{"credibility":3,"name":"https://messari.io/project/onyx-protocol","type":"other","url":""}]}],"sources_used":[],"summary":"Onyx Protocol is a Compound Finance fork and DeFi lending platform on Ethereum that launched a V2 iteration in 2024 following two devastating exploits — one in November 2023 ($2.1M) and a second in September 2024 ($3.8M) — both exploiting the same known vulnerability in the Compound V2 codebase. After the second hack, the community voted to shut down the Ethereum lending market and relaunch as Onyx Core; V2 targeting compliance with the U.S. CLARITY Act launched in Q3 2025 on a new XCN Ledger infrastructure. Total confirmed losses across both exploits exceed $5.9 million.","timeline":[{"date":"2022-01-01","event":"CertiK completes audit of Onyx Protocol — the last known independent security audit. Subsequent protocol updates and new market deployments were not re-audited.","source":""},{"date":"2023-10-01","event":"Onyx DAO passes governance Proposal 22 adding an unfunded PEPE market; only 11 total votes cast with one address controlling ~97% of vote weight.","source":""},{"date":"2023-11-02","event":"First exploit: attacker (0x085bdff2c522e8637d4154039db8746bb8642bff) drains $2.1 million (1,164 ETH) using an empty-pool rounding error in the Compound V2 fork. 1,140 ETH deposited to Tornado Cash. TVL drops 87%.","source":""},{"date":"2024-01-01","event":"Onyx DAO passes recovery proposals including plans to launch V2 money market with security improvements targeting the rounding-error vulnerability.","source":""},{"date":"2024-09-26","event":"Second exploit: attacker (0x680910cf5Fc9969A25Fd57e7896A14fF1E55F36B) drains $3.8 million using the same Compound V2 exchange-rate manipulation plus a new NFTLiquidation contract flaw. Stolen assets include 4.1M VUSD, 7.35M XCN, 50K USDT, 5K DAI, 0.23 WBTC.","source":""},{"date":"2024-09-26","event":"VUSD stablecoin depegs to $0.2757 — a 72% decline within 24 hours of the exploit.","source":""},{"date":"2024-09-27","event":"OIP-46 (Relaunch Onyx Core) proposed. Protocol announces shutdown of Ethereum lending market and 1:1 lender reimbursement commitment.","source":""},{"date":"2024-09-29","event":"OIP-46 passes with 100% community approval (no opposition votes recorded).","source":""},{"date":"2024-10-01","event":"OIP-46 executed. Ethereum lending market shut down; Onyx Core relaunch initiated.","source":""},{"date":"2025-01-01","event":"XCN token surges approximately 1,500% to $0.05 in a speculative rally before falling ~85%.","source":""},{"date":"2025-08-01","event":"OIP-60 deployed: Onyx Points rewards for stakers activated; gas-free wallet launched; Onyx AI v2 and website overhaul released.","source":""},{"date":"2025-10-01","event":"Onyx V2 launches natively on XCN Ledger (Layer 3) with gas-free transactions, Arbitrum Nitro EVM compatibility, and CLARITY Act compliance positioning.","source":""},{"date":"2026-03-27","event":"Goliath proof-of-stake Layer 1 mainnet goes live as part of the expanded Onyx ecosystem.","source":""}]},"v":1}