Wasabi Protocol

avoid.net/wasabi-protocol→18/100·82% conf.

[AI-DRAFTED · AWAITING VERIFICATION]

18/100

[CRITICAL]82% conf.

Summary

Wasabi Protocol is a decentralized perpetual futures and leverage trading protocol founded in 2022, enabling users to trade memecoins, NFTs, and other long-tail assets with leverage on Ethereum, Base, Blast, and Berachain. On April 30, 2026, the protocol suffered a critical exploit in which an attacker compromised the deployer EOA private key (wasabideployer.eth), granted ADMIN_ROLE to a malicious orchestrator contract with zero timelock delay, and executed UUPS proxy upgrades across all four chains to drain approximately $5.9 million in user funds. The stolen assets were subsequently consolidated into ETH and routed through Tornado Cash across five attacker wallets.

Connected Entities

1 entities · 10 linked investigations

Protocols

⌂Wasabi Protocol

Relationships

Also appears in

Gamma Strategies·28 Matcha Meta·28 CATFI Memecoin / Eth Father (Park)·2 Adshares Bridge (ADS)·28 Florence Finance·28 Wasabi Protocol·18 Unizen·32 Delio (South Korea Crypto Lender Fraud)·3 Platypus Finance·28 Levana Perps·32

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Timeline(13 events)

2022-01-01

Wasabi Protocol founded by Eren Derman and Kemal Hasan Atay in New York, NY.

Tracxn / Alliance company profile

2024-06-18

Wasabi Protocol closes $3 million seed round led by Electric Capital, with participation from Alliance, Luca Netz, Santiago Santos, Zagabond, and DCF God.

The Block

2026-04-30

At 01:12 UTC, attacker wallet receives 0.188 ETH from a Tornado Cash-linked address, beginning pre-exploit funding.

Rekt News on-chain analysis

2026-04-30

Between 07:07 and 07:36 UTC, additional attacker wallet funding transactions executed. At 07:46 UTC, malicious contracts deployed across chains.

Rekt News on-chain analysis

2026-04-30

At 07:49:47 UTC, Ethereum vault drain executes across eight vaults simultaneously. Base drain follows at 07:52:37 UTC. Ethereum LongPool drained at 07:59:35 UTC.

Rekt News on-chain analysis

2026-04-30

Blockaid exploit detection system flags the active drain across Ethereum and Base in near real-time. Hypernative, CertiK, and PeckShield subsequently issue independent alerts.

BanklessTimes / The Block

2026-04-30

At approximately 10:00 UTC, Wasabi Protocol issues first public statement on X advising users not to interact with contracts. Second statement at 13:00 UTC confirms SEAL 911 and Blockaid engagement, notes Solana unaffected, and states FBI contacted.

Wasabi Protocol / The Block

2026-05-01

Wasabi Protocol issues first substantive update confirming the breach is contained. Berachain and Blast confirmed as additional affected chains.

CryptoBriefing / AMBCrypto

2026-05-01

Attacker Wallet 2 (300 ETH) exits through Tornado Cash.

Rekt News on-chain analysis

2026-05-02

Attacker Wallet 3 (500 ETH) exits through Tornado Cash.

Rekt News on-chain analysis

2026-05-03

Attacker Wallet 1 (528 ETH) exits through Tornado Cash.