Warp Protocol

2016-01-01

Omar Zaki forms unregistered investment adviser and hedge fund in New Haven, Connecticut, raising approximately $1.7 million from eleven investors.

2019-04-01

SEC issues administrative order against Omar Zaki for investor fraud, misleading investors about fund assets, performance, and management. Zaki settles for a $25,000 civil penalty and a three-year industry ban.

2020-12-09

Warp Finance launches as an Ethereum DeFi lending platform allowing users to deposit LP tokens as collateral for stablecoin loans.

2020-12-17

Warp Finance suffers a flash loan exploit via a manipulated LP token price oracle. Approximately $7.76 million in DAI and USDC is drained from the protocol.

2020-12-22

Warp Finance team recovers approximately $5.688 million (73%) of stolen funds in the form of ETH/DAI LP tokens with white-hat assistance. Portal IOU tokens issued to affected users.

2021-04-04

Force DAO, another protocol alleged to be linked to Omar Zaki, is exploited within hours of launch. Five attackers drain approximately $367,000 in FORCE tokens via an ERC-20 error-handling mismatch. FORCE token loses approximately 90% of its value.

2022-02-18

ZachXBT publishes a thread allegedly doxxing Composable Finance's '0xbrainjar' as Omar Zaki, connecting him to the 2019 SEC settlement, Warp Finance, and Force DAO. Omar Zaki subsequently confirms his identity in a Medium post.

2022-05-01

TerraUSD (UST) depegs and the Terra/Luna ecosystem collapses, wiping out approximately $40 billion in market capitalization. Terraform Labs' Warp Protocol product is rendered part of a collapsing ecosystem.

2023-02-16

The SEC charges Terraform Labs and founder Do Hyeong Kwon with defrauding investors in multiple crypto asset securities offerings.

2024-02-21

Terraform Labs launches Warp Protocol v2 as decentralized automation layer for the Cosmos ecosystem, despite ongoing SEC litigation and wind-down proceedings.

2024-03-13

Warp Finance (the Ethereum DeFi protocol) shuts down its hosted frontend. Smart contracts remain accessible for direct interaction but are no longer actively maintained.

2024-04-05

A jury finds Do Kwon and Terraform Labs liable for investor fraud.

2024-06-12

U.S. District Court approves final consent judgment against Terraform Labs and Do Kwon totaling $4,473,828,306 in disgorgement, prejudgment interest, and civil penalties.

2024-09-25

Terraform Labs announces potential shutdown of Warp Protocol, Enterprise DAO, and Station Wallet by October 30, 2024 unless third parties take over operations.

2024-12-31

Terraform Labs' Warp Protocol formally shuts down as part of the broader Terraform Labs wind-down and bankruptcy process.

2025-12-01

Do Kwon sentenced to 15 years in U.S. federal prison following extradition and guilty plea to fraud charges related to the Terra/Luna collapse.