Verify a decision

{"actor":"system:backfill","investigation_id":"7110070c-ef75-4d63-9110-4b2c1b9731b9","kind":"publish","page_slug":"chainswap","published_at":"2026-05-28T17:44:21.416Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"ChainSwap","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/chainswap-raises-3m-from-investors-including-alameda-research-and-ngc-ventures","type":"other","url":""},{"credibility":3,"name":"https://insidebitcoins.com/news/3m-investment-round-for-chainswap-led-by-ngc-ventures","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://decrypt.co/75698/chainswap-exploit-leads-to-multi-million-loss-for-defi-tokens","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/chainswap-rekt/","type":"other","url":""},{"credibility":3,"name":"https://cryptopotato.com/chainswap-exploited-projects-using-the-bridge-protocol-crashed-99/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/chainswap-rekt/","type":"other","url":""},{"credibility":3,"name":"https://chain-swap.medium.com/chainswap-exploit-11-july-2021-post-mortem-6e4e346e5a32","type":"other","url":""},{"credibility":3,"name":"https://halborn.com/explained-the-chainswap-hack-july-2021/","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/8-million-lost-major-chainswap-exploit/","type":"other","url":""},{"credibility":3,"name":"https://losslessdefi.medium.com/chainswap-post-mortem-deep-dive-into-the-exploit-b5e7d2f58758","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/chainswap-rekt/","type":"other","url":""},{"credibility":3,"name":"https://0xweb3.medium.com/chainswap-hack-investigation-scam-or-not-29dccd4937f2","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.cryptovibes.com/blog/2021/07/14/chainswap-to-compensate-and-deep-audit-plan-after-8m-exploit/","type":"other","url":""},{"credibility":3,"name":"https://x.com/chain_swap/status/1413985428336693251","type":"other","url":""},{"credibility":3,"name":"https://0xweb3.medium.com/chainswap-hack-investigation-scam-or-not-29dccd4937f2","type":"other","url":""},{"credibility":3,"name":"https://coinquora.com/chainswap-to-airdrop-compensation-tokens-after-8m-hack/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://coinrivet.com/chainswap-hackers-steal-8m-and-crash-token-prices/","type":"other","url":""},{"credibility":3,"name":"https://cryptopotato.com/chainswap-exploited-projects-using-the-bridge-protocol-crashed-99/","type":"other","url":""},{"credibility":3,"name":"https://etherscan.io/token/0xa1f830aa68b53fd3ee3bb86d7f8254e604740c8b","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://x.com/chainswaperc","type":"other","url":""},{"credibility":3,"name":"https://etherscan.io/token/0xae41b275aaaf484b541a5881a2dded9515184cca","type":"other","url":""},{"credibility":3,"name":"https://www.chainswap.com/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://halborn.com/explained-the-chainswap-hack-july-2021/","type":"other","url":""},{"credibility":3,"name":"https://losslessdefi.medium.com/chainswap-post-mortem-deep-dive-into-the-exploit-b5e7d2f58758","type":"other","url":""},{"credibility":3,"name":"https://chain-swap.medium.com/chainswap-exploit-11-july-2021-post-mortem-6e4e346e5a32","type":"other","url":""}]}],"sources_used":[],"summary":"ChainSwap was a cross-chain token bridge protocol connecting Ethereum, Binance Smart Chain, and Huobi Eco Chain, which raised $3 million in April 2021 from investors including Alameda Research and NGC Ventures. The platform suffered two separate smart contract exploits in July 2021 — the first on July 2 draining approximately $800,000, and the second on July 10-11 draining approximately $4.4 million (with some sources citing up to $8 million across affected partner token markets) — collectively devastating more than 20 partner projects. Following the exploits, ChainSwap offered partial compensation via token airdrops; the project's native CHAINS/ASAP token collapsed over 96% from its all-time high and the protocol has since become largely inactive under its original identity, with the @ChainSwapERC Twitter handle rebranding to ChainHub in early 2026.","timeline":[{"date":"2021-03-21","event":"ChainSwap launches a Polkastarter bridge, signaling early multi-chain ambitions","source":""},{"date":"2021-04-07","event":"ChainSwap closes a $3 million strategic funding round led by NGC Ventures, with Alameda Research, OKEx Block Dream Fund, CMS Holdings, and others participating","source":""},{"date":"2021-04-23","event":"ASAP/CHAINS token reaches all-time high of approximately $3.62","source":""},{"date":"2021-07-02","event":"First exploit: smart contract vulnerability drained approximately $800,000. Bridge frozen within 30 minutes; ChainSwap pledges 1:1 ASAP airdrop to affected holders","source":""},{"date":"2021-07-10","event":"CHAINS token falls to all-time low of approximately $0.002 as second exploit begins; attacker address 0xEda5066780dE29D00dfb54581A707ef6F52D8113 begins draining 20+ tokens on Ethereum and BSC","source":""},{"date":"2021-07-11","event":"Second exploit confirmed: approximately $4.4 million drained directly, with broader market impact cited as high as $8 million. 16+ partner project tokens crash 85-99%. ChainSwap freezes bridge and mapping tokens","source":""},{"date":"2021-07-14","event":"ChainSwap announces expanded compensation plan: 1:1 ASAP airdrop, ~717,200 ASAP (~$150,000) liquidated from treasury for partner projects, and stablecoins from team fund. Commits to deep audit before reopening","source":""},{"date":"2022-11-01","event":"Alameda Research (ChainSwap investor) collapses amid the FTX fraud scandal, further tarnishing the credibility of entities in its investment portfolio","source":""},{"date":"2026-01-01","event":"The @ChainSwapERC Twitter account announces rebranding to ChainHub, pivoting to a Telegram trading bot platform for Solana and EVM networks","source":""}]},"v":1}