Ambient Finance
Summary
Ambient Finance (formerly CrocSwap, operated by Crocodile Labs) is a decentralized exchange protocol running its entire DEX inside a single smart contract, deployed on Ethereum and several Layer 2 networks. The project raised $6.5 million in a seed round in July 2023 from credible institutional investors including BlockTower Capital, Jane Street, and Circle Ventures. It has experienced two notable security incidents: a DNS hijacking attack in October 2024 that compromised its frontend, and an on-chain smart contract exploit in June 2026 that resulted in approximately $110,600 in losses.
Connected Entities
1 entities · 10 linked investigationsConnected Through
1 shared actor · 1 investigationDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ⌂Ambient Financeprotocolalso inAmbient Finance·42
Timeline(8 events)
2021-01-01
Crocodile Labs founded by Douglas Colkitt; protocol developed under the name CrocSwap
Rootdata / SoSoValue2023-07-11
Ambient Finance (formerly CrocSwap) raises $6.5 million seed round led by BlockTower Capital; investors include Jane Street, Circle Ventures, Naval Ravikant, Quantstamp, and others at $80M network valuation
CrocSwap Medium / CoinCarp2024-03-01
Ambient Finance launches on Blast mainnet; Ambient Points Season 1 goes live, coinciding with significant TVL growth
ambient_finance on X2024-10-17
Ambient Finance frontend DNS hijacked; Inferno Drainer malware deployed via malicious domain clone; team warns users not to interact with the site
CoinTelegraph2024-10-19
Ambient Finance recovers domain; transfers to hardened registrar; team confirms on-chain contracts and protocol funds unaffected; states affected users were reimbursed
Cryptopolitan2024-10-21
Ambient Finance issues all-clear; frontend confirmed safe to interact with again
ambient_finance on X2026-06-08
Ambient Finance suffers on-chain exploit on Ethereum; approximately $110,600 drained; TenArmorAlert discloses the incident; funds routed through Uniswap V4
Crypto TimesDecision Log
- hash: 7zXQy3NQxxavojFxnz9qiwLjWdVg5PXVP4mxRUcj73qb
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/14/2026, 11:35:19 PM
last updated: 6/14/2026, 11:35:30 PM
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