WOOFi Swap
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 62. Problems weighed by who is responsible: incidents the subject suffered −6.4, problems around the subject, caused by others −3.2, concerns that are not fraud −3.2; legitimacy credit long-running +10. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -3.2 |
| Long-running | +10 |
| Sum | 62 |
Score: 62/100 (kept between 0 and 100)
How scoring works →Summary
WOOFi Swap is a decentralized exchange (DEX) built by WOO Network, operating on 12+ blockchain networks including Arbitrum, Avalanche, and Optimism, and using a proprietary synthetic Proactive Market Maker (sPMM) algorithm. On March 5, 2024, the protocol suffered a critical oracle manipulation exploit on Arbitrum in which an attacker used flash loans to manipulate WOO token pricing to near zero, stealing approximately $8.75 million; funds were not recovered. The parent platform WOO X also suffered a separate $14 million phishing-linked breach in July 2025 attributed to North Korean state-sponsored threat actors, compounding the ecosystem's security record.
Connected Entities
9 entities · 60 linked investigations- Optimism→mentioned with→Arbitrum(65%)
- Optimism→mentioned with→Wintermute(70%)
- WOOFi Swap→mentioned with→Arbitrum(80%)
- WOOFi Swap→mentioned with→Wintermute(60%)
- WOOFi Swap→mentioned with→Optimism(65%)
- WOOFi Swap→mentioned with→WOO X(85%)
- WOOFi Swap→mentioned with→Chainlink(70%)
- WOOFi Swap→mentioned with→Kronos Research(80%)
- WOO X→mentioned with→Kronos Research(80%)
- WOO X→mentioned with→TraderTraitor / UNC4899(70%)
- + 5 more
Connected Through
8 shared actors · 333 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Arbitrumorganization
- □Optimismorganization
- □Chainlinkorganization
- □TraderTraitor / UNC4899organization
Timeline(10 events)
2019
WOO Network (originally Wootrade) founded by Jack Tan and Mark Pimentel, co-founders of Kronos Research.
2021
WOOFi Swap launches as the DeFi product arm of WOO Network, operating with the sPMM algorithm. No security incidents reported for approximately three years.
August 2022
PeckShield completes second audit of WOOFi Supercharger vault, reporting no critical or high-severity issues.
27 June 2022
Three Arrows Capital (3AC), an early investor in WOO Network's Series A, is ordered into liquidation by a British Virgin Islands court after failing to meet margin calls.
5 March 2024
WOOFi Swap on Arbitrum is exploited via flash loan oracle manipulation. Attacker (0x9961190b...) manipulates WOO price to $0.00000009, draining approximately $8.75 million across three attack cycles in 13 minutes. Pools paused by 16:02 UTC.
6 March 2024
WOOFi offers 10% white-hat bounty to the attacker and posts an information bounty on Arkham Intelligence. Official post-mortem published.
7 March 2024
PeckShield reports that an address labeled 'Hack, WOOFi Exploiter' moved 199.52 ETH (~$713,000) to a new address; connection to bounty offer unclear.
19 March 2024
WOOFi Swap v2 contracts resume operation after approximately two weeks of downtime. Zellic completes post-remediation audit of sPMM, oracle, and router contracts.
24 July 2025
WOO X centralized exchange suffers $14 million breach. A developer downloads a malicious file via social engineering, installing a Lazarus Group (UNC4899) backdoor. Nine user accounts drained. Withdrawals halted. All affected users fully compensated from treasury.
15 October 2025
FusionX Digital announced as new operator of WOO X, signaling governance transition for the centralized exchange.
Decision Log
- slot 455365045 · hash 7XJks1sc6BXjSXaLcWSDQXLikuwNkRGY1T3F6PDMdpnX
- slot 422548221 · hash BXyjCjKjmmHJKzpxR7FhfQ9eJnqKThGFUZYUpH69mmw1
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 19 of 23 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:34 AM
last updated: 10/10/2026, 6:45:19 PM
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