Warp Protocol
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the judge moved the trust score from 22 to 4. Version history →
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anchored·WQLWJf…fpEpSummary
Warp Protocol refers to two distinct but both risk-flagged entities: (1) Terraform Labs' Cosmos-based on-chain automation protocol, shut down by December 2024 following the $40 billion Terra/Luna collapse and a $4.47 billion SEC settlement against Do Kwon and Terraform Labs; and (2) Warp Finance, an Ethereum DeFi lending protocol that suffered a $7.76 million flash loan exploit in December 2020, which ZachXBT linked to Omar Zaki, a Yale graduate who had previously settled SEC fraud charges for $25,000 in 2019 while operating an unregistered hedge fund. ZachXBT's February 2022 investigation alleged that Zaki operated both Warp Finance and Force DAO under the pseudonym '0xbrainjar' while concealing his SEC enforcement history from the Composable Finance community.
Connected Entities
10 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- Uniswap→mentioned with→Ethereum(80%)
- Chainlink→mentioned with→Ethereum(65%)
- Warp Protocol→mentioned with→Uniswap(65%)
- Warp Protocol→mentioned with→Terra/Luna(80%)
- Warp Protocol→mentioned with→ZachXBT(70%)
- Warp Protocol→mentioned with→Ethereum(80%)
- Warp Protocol→mentioned with→Do Kwon(85%)
- Warp Protocol→mentioned with→Chainlink(60%)
- Do Kwon→mentioned with→Terraform Labs(80%)
- + 11 more
Timeline(16 events)
2016
Omar Zaki forms unregistered investment adviser and hedge fund in New Haven, Connecticut, raising approximately $1.7 million from eleven investors.
SEC Administrative Order (33-10625)April 2019
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.
SEC.gov Administrative Proceedings9 December 2020
Warp Finance launches as an Ethereum DeFi lending platform allowing users to deposit LP tokens as collateral for stablecoin loans.
Finance Magnates17 December 2020
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.
CoinDesk22 December 2020
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.
Decrypt4 April 2021
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.
Halborn18 February 2022
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.
ZachXBT on XMay 2022
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.
Do Kwon Wikipedia16 February 2023
The SEC charges Terraform Labs and founder Do Hyeong Kwon with defrauding investors in multiple crypto asset securities offerings.
SEC.gov Press Release21 February 2024
Terraform Labs launches Warp Protocol v2 as decentralized automation layer for the Cosmos ecosystem, despite ongoing SEC litigation and wind-down proceedings.
PR Newswire13 March 2024
Warp Finance (the Ethereum DeFi protocol) shuts down its hosted frontend. Smart contracts remain accessible for direct interaction but are no longer actively maintained.
Warp Finance Medium12 June 2024
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.
Banking Dive25 September 2024
Terraform Labs announces potential shutdown of Warp Protocol, Enterprise DAO, and Station Wallet by October 30, 2024 unless third parties take over operations.
CoinEdition31 December 2024
Terraform Labs' Warp Protocol formally shuts down as part of the broader Terraform Labs wind-down and bankruptcy process.
CoinEditionDecember 2025
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.
Do Kwon WikipediaDecision Log
- slot 464358530 · hash Eov17mBJWnSXq1VVSTbzkFHt31JUvixRorjTj4gXA9ov
- slot 464358525 · hash DftMQyj8oHCz58pwkJMgHAnPhHn8NsWLLsyC48NxyygJ
- slot 422777511 · hash 65fs298YYjcYZHZvyud4vgXGXMg3k47rH8iJcVajpe1p
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 20 of 21 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:59 AM
last updated: 11/2/2026, 4:19:48 AM
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