Zoth ZeUSD
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 51. Problems weighed by who is responsible: incidents the subject suffered −12.8, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +4. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -12.8 |
| Problems around it, caused by others | -1.6 |
| Long-running | +4 |
| Sum | 51 |
Score: 51/100 (kept between 0 and 100)
How scoring works →Summary
Zoth is a Dubai-based real-world asset (RWA) restaking protocol and the issuer of ZeUSD, a CDP-style stablecoin backed by tokenized fixed-income assets including U.S. T-Bills and ETFs. In March 2025, the protocol suffered two separate security incidents within three weeks: a $285,000 logic-flaw exploit on March 1 and a critical $8.4–8.85 million admin key compromise on March 21, the latter resulting in the theft of 8.85 million USD0++ tokens. The stolen funds remain largely unrecovered as of mid-2025, with Zoth offering a $500,000 bounty and engaging Crystal Blockchain BV for forensic investigation.
Connected Entities
4 entities · 60 linked investigations- Zoth Protocol→mentioned with→Uniswap(70%)
- Zoth ZeUSD→mentioned with→Wormhole(65%)
- Zoth ZeUSD→mentioned with→Uniswap(65%)
- Zoth ZeUSD→mentioned with→Zoth Protocol(80%)
Connected Through
3 shared actors · 254 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ⌂Uniswapprotocol
- □Wormholeorganization
- ⌂Zoth Protocolprotocol
Timeline(12 events)
2023
Zoth protocol founded in Dubai by Pritam Dutta and Koushik Bhargav
10 April 2024
Zoth raises $2.5M seed round led by Borderless Capital and others including Wormhole and SingularityDAO
6 August 2024
Zoth raises $4M strategic funding round with Ripple among backers
18 September 2024
Zoth Atlas introduces ZeUSD as a permissionless fixed-income RWA gateway
December 2024
Hacken publishes smart contract audit of Zoth ZeUSD contracts
27 January 2025
Zoth announces first-ever RWA restaking layer with ZeUSD pre-deposit campaign
February 2025
ZeUSD enters beta phase, reaching over $27M TVL within six weeks
March 2025
ZeUSD opens to public; first exploit occurs on the same day — $285,000 stolen via LTV logic flaw in mintWithStable() function exploiting Uniswap V3 price manipulation
21 March 2025
Second exploit: attacker compromises Zoth deployer wallet (0x3604582f...218dca), upgrades USD0PPSubVaultUpgradeable proxy to malicious contract, drains 8,851,750 USD0++ tokens (~$8.4–8.85M). Funds converted to DAI then ETH across five wallets
22 March 2025
Zoth freezes 73% of TVL, engages Crystal Blockchain BV for investigation, and offers $500,000 recovery bounty (10% of recovered funds)
13 April 2025
Whitestream threat intelligence report tags the March 21 exploit with a Lazarus Group attribution indicator (via lazarus.day)
August 2025
Zoth secures $15M strategic token commitment from Bolts Capital to fund protocol recovery and ZeUSD relaunch
Decision Log
- slot 455367281 · hash 4MK5DAWEZsPoQMAnJHThAjzbVznu1bd1uGHu5GdWbsgE
- slot 422622628 · hash 7uRpHj1puSsZp8DgBtqso7RP7NtRZtAu8CGwE14FHurC
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 17 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:25 AM
last updated: 10/10/2026, 6:47:22 PM
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