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{"actor":"system:backfill","investigation_id":"929433df-9a9d-4af5-9512-099ea30a94c9","kind":"publish","page_slug":"neutrl","published_at":"2026-05-28T20:25:03.660Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Neutrl","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2025/04/16/neutrl-raises-usd5m-to-tokenize-a-popular-hedge-fund-altcoin-trade","type":"other","url":""},{"credibility":3,"name":"https://www.globenewswire.com/news-release/2025/04/17/3063560/0/en/STIX-and-Accomplice-Lead-Neutrl-s-5-Million-Raise-to-Launch-NUSD-a-High-Yield-Synthetic-Dollar.html","type":"other","url":""},{"credibility":3,"name":"https://iq.wiki/wiki/neutrl","type":"other","url":""},{"credibility":3,"name":"https://stabledash.com/news/2025-11-10-neutrl-launches-synthetic-dollar-nusd-for-otc-arbitrage-yield","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/business/2025/04/16/neutrl-raises-usd5m-to-tokenize-a-popular-hedge-fund-altcoin-trade","type":"other","url":""},{"credibility":3,"name":"https://www.globenewswire.com/news-release/2025/04/17/3063560/0/en/STIX-and-Accomplice-Lead-Neutrl-s-5-Million-Raise-to-Launch-NUSD-a-High-Yield-Synthetic-Dollar.html","type":"other","url":""},{"credibility":3,"name":"https://cryptorank.io/ico/neutrl","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.cryptotimes.io/2026/03/19/neutrl-defi-pauses-smart-contracts-amid-suspected-dns-frontend-hijack/","type":"other","url":""},{"credibility":3,"name":"https://www.cryptonewsz.com/neutrl-front-end-attack-update-urgent-security/","type":"other","url":""},{"credibility":3,"name":"https://phemex.com/news/article/neutrl-resumes-operations-after-dns-migration-posthijacking-68032","type":"other","url":""},{"credibility":3,"name":"https://smartcontractshacking.com/hacks/neutrl-hack-2026","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://web3secnews.substack.com/p/the-fi-files-a-field-report-on-dns","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2026/03/19/neutrl-defi-pauses-smart-contracts-amid-suspected-dns-frontend-hijack/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.weex.com/news/detail/neutrl-dns-migration-has-been-completed-and-operations-have-resumed-the-original-domain-will-be-gradually-phased-out-393585","type":"other","url":""},{"credibility":3,"name":"https://phemex.com/news/article/neutrl-resumes-operations-after-dns-migration-posthijacking-68032","type":"other","url":""},{"credibility":3,"name":"https://www.hypernative.io/blog/how-neutrl-built-nusd-onchain-settlement-architecture-with-hypernative-as-real-time-monitor-and-pauser","type":"other","url":""},{"credibility":3,"name":"https://www.panewslab.com/en/articles/019d0f98-33ac-76cd-9ed3-35fdc6ef1292","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.neutrl.fi/risks/counterparty-risks","type":"other","url":""},{"credibility":3,"name":"https://messari.io/report/neutrl-otc-and-delta-neutral-strategies","type":"other","url":""},{"credibility":3,"name":"https://www.blocmates.com/articles/neutrl-unlocking-crypto-s-private-markets","type":"other","url":""},{"credibility":3,"name":"https://alearesearch.substack.com/p/neutrl-altcoin-otc","type":"other","url":""},{"credibility":3,"name":"https://blofin.com/en/academy/blofin-courses/what-s-behind-the-recent-stablecoin-defi-turmoil","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.mexc.co/en-PH/news/163368","type":"other","url":""},{"credibility":3,"name":"https://blockchainreporter.net/neutrl-partners-with-layerzero-for-oft-standard-unlocks-nusd-snusd-stablecoins-defi-cross-chain-interoperability/","type":"other","url":""},{"credibility":3,"name":"https://blockworks.co/news/prediction-markets-neutrl","type":"other","url":""},{"credibility":3,"name":"https://x.com/DefiLlama/status/1922045423495074012","type":"other","url":""}]}],"sources_used":[],"summary":"Neutrl is a DeFi protocol issuing NUSD, a market-neutral synthetic dollar backed by OTC altcoin arbitrage and delta-neutral futures hedging strategies. The protocol raised $5 million in seed funding in April 2025 and grew to over $136 million in TVL. In March 2026 Neutrl suffered a DNS hijacking attack — part of a coordinated campaign targeting .fi domain protocols — that compromised its frontend interface, though the team maintained that smart contract reserves and user funds were not directly drained.","timeline":[{"date":"2025-04-16","event":"Neutrl raises $5 million in seed funding led by STIX and Accomplice, with participation from Amber Group, SCB Limited, Figment Capital, Nascent, and angel investors including Ethena founder Guy Young.","source":""},{"date":"2025-11-10","event":"Neutrl launches its public DeFi protocol, issuing NUSD and sNUSD. The protocol reports $75 million raised in a pre-deposit vault campaign and early yields of approximately 30%.","source":""},{"date":"2025-11-01","event":"USDX, a competing delta-neutral synthetic dollar with $683 million TVL, collapses from $1 to $0.09 — a sector stress event that increased scrutiny of all synthetic stablecoin protocols.","source":""},{"date":"2026-03-18","event":"Neutrl's neutrl.fi domain is hijacked via social engineering of the domain registrar. Users redirected to a malicious frontend prompting unauthorized Permit2 approvals. Smart contracts paused. Security firm 0xGroomLake engaged.","source":""},{"date":"2026-03-19","event":"Neutrl publicly warns users to cease all interaction with neutrl.fi, provides malicious contract addresses to revoke, and advises use of revoke.cash. Incident identified as part of coordinated campaign also targeting Cow.fi, Steakhouse, and HypurrFi.","source":""},{"date":"2026-03-21","event":"Neutrl completes DNS migration to neutrl.finance and switches DNS providers. Smart contracts unpaused. Team states all reserve assets and NAV remain secure in custodial wallets.","source":""},{"date":"2026-05-01","event":"Neutrl announces LayerZero OFT standard integration, enabling NUSD and sNUSD transfers across 150+ blockchains.","source":""}]},"v":1}