Verify a decision

{"actor":"system:backfill","investigation_id":"0219f028-397c-4e1a-9679-dd02b5ff6042","kind":"publish","page_slug":"gamma","published_at":"2026-05-28T17:38:06.530Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Gamma Strategies","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://consensys.io/blog/gamma-strategies-an-innovative-solution-to-the-challenge-of-liquidity-management","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/gamma","type":"other","url":""},{"credibility":3,"name":"https://gammastrategies.medium.com/post-mortem-remediation-plan-9a62f10d90f3","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/gamma-strategies-rekt","type":"other","url":""},{"credibility":3,"name":"https://medium.com/visorfinance/introducing-gamma-an-organization-dedicated-to-funding-active-lp-strategies-and-market-making-bb6617168566","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/gamma-strategies-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/270338/defi-protocol-gamma-strategies-suffers-an-estimated-3-4-million-exploit","type":"other","url":""},{"credibility":3,"name":"https://gammastrategies.medium.com/post-mortem-remediation-plan-9a62f10d90f3","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=gamma-strategies-exploit","type":"other","url":""},{"credibility":3,"name":"https://www.vidma.io/blog/gamma-strategies-hack-4-5m-exploit-exposes-defi-vulnerabilities","type":"other","url":""},{"credibility":3,"name":"https://medium.com/neptune-mutual/how-was-gamma-protocol-exploited-6b63e6c127ba","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://gammastrategies.medium.com/post-mortem-remediation-plan-9a62f10d90f3","type":"other","url":""},{"credibility":3,"name":"https://medium.com/gamma-strategies/updates-to-the-remediation-plan-01d0c6604c75","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=gamma-strategies-exploit","type":"other","url":""},{"credibility":3,"name":"https://coinlive.com/news-flash/416064","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.gamma.xyz/gamma/learn/audits","type":"other","url":""},{"credibility":3,"name":"https://medium.com/gamma-strategies/gammas-v2-smart-contract-audits-completed-by-consensys-diligence-arbitrary-execution-29004e6b63c3","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/gamma-strategies-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.vidma.io/blog/gamma-strategies-hack-4-5m-exploit-exposes-defi-vulnerabilities","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/gamma-strategies-rekt","type":"other","url":""},{"credibility":3,"name":"https://medium.com/neptune-mutual/how-was-gamma-protocol-exploited-6b63e6c127ba","type":"other","url":""},{"credibility":3,"name":"https://blog.solidityscan.com/gamma-hack-analysis-6c074e61709e/","type":"other","url":""},{"credibility":3,"name":"https://immunebytes.com/blog/list-of-flash-loan-attacks-in-crypto/","type":"other","url":""}]}],"sources_used":[{"credibility":2,"name":"Gamma Strategies - REKT","type":"news_article","url":"https://rekt.news/gamma-strategies-rekt"},{"credibility":2,"name":"DeFi protocol Gamma Strategies suffers an estimated $3.4 million exploit — The Block","type":"news_article","url":"https://www.theblock.co/post/270338/defi-protocol-gamma-strategies-suffers-an-estimated-3-4-million-exploit"},{"credibility":2,"name":"Gamma Strategies Post-Mortem and Remediation Plan — Medium","type":"official","url":"https://gammastrategies.medium.com/post-mortem-remediation-plan-9a62f10d90f3"},{"credibility":2,"name":"Gamma Strategies exploited for $6.2 million — Web3 Is Going Great","type":"news_article","url":"https://www.web3isgoinggreat.com/?id=gamma-strategies-exploit"},{"credibility":2,"name":"Gamma Strategies Hack: $4.5M Exploit Exposes DeFi Vulnerabilities — Vidma","type":"research","url":"https://www.vidma.io/blog/gamma-strategies-hack-4-5m-exploit-exposes-defi-vulnerabilities"},{"credibility":2,"name":"How Was Gamma Protocol Exploited? — Neptune Mutual","type":"research","url":"https://medium.com/neptune-mutual/how-was-gamma-protocol-exploited-6b63e6c127ba"},{"credibility":2,"name":"Gamma Strategies Updates to the Remediation Plan — Medium","type":"official","url":"https://medium.com/gamma-strategies/updates-to-the-remediation-plan-01d0c6604c75"},{"credibility":2,"name":"Gamma Hack Analysis — SolidityScan","type":"research","url":"https://blog.solidityscan.com/gamma-hack-analysis-6c074e61709e/"},{"credibility":2,"name":"DeFi Protocol Gamma Strategies Discloses Vulnerability — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/defi-protocol-gamma-strategies-discloses-vulnerability-after-preliminary-investigation/"},{"credibility":2,"name":"Gamma TVL, Fees and Revenue — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/gamma"},{"credibility":2,"name":"Gamma Strategies v2 Audit by ConsenSys Diligence and Arbitrary Execution — Medium","type":"official","url":"https://medium.com/gamma-strategies/gammas-v2-smart-contract-audits-completed-by-consensys-diligence-arbitrary-execution-29004e6b63c3"},{"credibility":2,"name":"Gamma Audits Documentation","type":"official","url":"https://docs.gamma.xyz/gamma/learn/audits"},{"credibility":2,"name":"Arbitrum's Gamma Protocol to Collaborate with OpenZeppelin for Security Audit — CoinLive","type":"news_article","url":"https://www.coinlive.com/news-flash/416064"},{"credibility":2,"name":"Introducing Gamma from Visor Finance — Medium","type":"official","url":"https://medium.com/visorfinance/introducing-gamma-an-organization-dedicated-to-funding-active-lp-strategies-and-market-making-bb6617168566"},{"credibility":2,"name":"Gamma Strategies January 2024 Hack Analysis — DeFi Teller","type":"research","url":"https://defiteller.com/gamma-strategies-2024-ethereum-hack-analysis"}],"summary":"Gamma Strategies is a DeFi active liquidity management (ALM) protocol built on Uniswap v3 and other concentrated-liquidity DEXs, formerly known as Visor Finance. The protocol suffered a significant flash loan exploit on January 4, 2024, resulting in losses of approximately $6.18 million across four vaults on Arbitrum; the attacker laundered the majority of stolen funds through Tornado Cash. This was not the protocol's first security incident: its predecessor Visor Finance lost approximately $8.2 million to an infinite mint vulnerability in December 2021, leading to a rebrand.","timeline":[{"date":"2021-12-01","event":"Visor Finance (predecessor to Gamma Strategies) suffers approximately $8.2 million loss due to an infinite mint (access control) vulnerability.","source":""},{"date":"2021-12-03","event":"Visor Finance announces rebrand to Gamma Strategies with a new token and reported team overhaul following the exploit.","source":""},{"date":"2024-01-04","event":"Gamma Strategies exploited via flash loan and price manipulation attack on Arbitrum vaults beginning at approximately 03:30 UTC. Total losses reach approximately $6.18 million across four vaults. PeckShield first alerts on social media.","source":""},{"date":"2024-01-04","event":"Gamma Strategies acknowledges the exploit approximately 90 minutes after it began and pauses all vault deposits across the protocol.","source":""},{"date":"2024-01-04","event":"Attacker bridges stolen USDT from Arbitrum to Ethereum via Stargate bridge and deposits approximately 1,000 ETH into Tornado Cash.","source":""},{"date":"2024-01-04","event":"At 10:54 AM UTC, Gamma Strategies sends on-chain message to attacker's wallet (0x5351536145610aa448a8bf85ba97c71caf31909c) offering bug bounty negotiations. No substantive response is received.","source":""},{"date":"2024-01-05","event":"Gamma Strategies publishes preliminary investigation disclosing root cause: a configuration error in automation scripts set price change thresholds to -50%/+100% instead of the intended 2%.","source":""},{"date":"2024-01-09","event":"Gamma Strategies announces engagement of OpenZeppelin for a third-party smart contract security audit. Deposits remain paused pending audit results, with a 1–3 week estimated timeline.","source":""},{"date":"2024-01-10","event":"Gamma Strategies publishes post-mortem and remediation plan, establishing the Recovery Pool funded by at least 45% of protocol revenues, with affected users listed in a public spreadsheet.","source":""}]},"v":1}