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Belt Finance

avoid.net/belt-finance→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·4va9eB…K4gk

Summary

Belt Finance (belt.fi) is a multi-strategy yield aggregator and stableswap AMM built primarily on Binance Smart Chain (BSC), developed by South Korean blockchain firm Ozys. On May 29, 2021, the protocol was exploited via a flash loan attack that netted the attacker approximately $6.23 million in BUSD and caused an estimated $50 million in total pool losses. The protocol announced a phased compensation plan for affected users but full repayment status remains unverified; the protocol has continued operating in diminished form, with current TVL of approximately $12 million as of 2025.

Connected Entities

1 entities
Protocols
⌂Belt Finance
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    Timeline(10 events)

    April 2021

    Belt Finance launches on BSC as a multi-strategy yield aggregator and stableswap AMM built by Ozys.

    BSC News project insight

    29 May 2021

    Flash loan exploit executes against the beltBUSD vault eight times, netting the attacker approximately $6.23 million BUSD. Total pool losses estimated at $50 million. Belt Finance pauses deposits and withdrawals.

    CoinDesk

    30 May 2021

    BELT token dumps approximately 54% in the immediate aftermath of the exploit becoming public.

    Decrypt

    2 June 2021

    Belt Finance announces phased compensation plan including r4BELT airdrop for affected vault users and a $3 million BELT buyback fund.

    CoinDesk

    3 June 2021

    Halborn publishes post-mortem analysis of the Belt Finance hack, identifying the root cause as a faulty valuation assumption in the multi-strategy vault.

    Halborn

    February 2022

    KLAYswap, another Ozys-developed protocol, is exploited for approximately $2 million.

    Rekt News / Blockworks

    22 November 2023

    HECO Chain bridge exploited for approximately $87–115 million. Belt Finance suspends all HECO deposits. Withdrawals expected after V4 launch.

    CoinDesk

    31 December 2023

    Orbit Bridge (Orbit Chain), also developed by Ozys, is exploited for approximately $81.5 million on New Year's Eve.

    Blockworks

    4 January 2024

    Belt Finance V4 launches (delayed two weeks from original December 2023 date), adding Ethereum, Polygon support and dropping HECO.

    Belt Finance official

    15 January 2025

    HECO Network formally ceases operations, permanently ending Belt Finance's HECO deployment.

    CoinMarketCap
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain18 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 18 of 21 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:56 AM

    last updated: 9/15/2026, 11:55:18 PM

    4 views

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