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WOOFi Swap

avoid.net/woofi-swap→28/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·5Ezhxx…auV8

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
Organizations
□TraderTraitor / UNC48990□Chainlink67□Three Arrows Capital2□Arbitrum52□Kronos Research28□Wintermute38□WOO X38□Optimism60
Protocols
⌂WOOFi Swap
Relationships
  • 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
Also appears in
WOO X·38Arbitrum·52Wintermute·38Shibarium·28Aerodrome Finance·58Makina Finance·24Bunni Protocol·28Aurory·26Rain Protocol (RAIN Token)·12Cascade Protocol·18+ 50 more

Connected Through

8 shared actors · 363 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about WOOFi Swap?

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.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain19 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 19 of 23 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:34 AM

last updated: 8/30/2026, 12:41:16 PM

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