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Concentric

avoid.net/concentric→18/100·88% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

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anchored·627Ufm…CnqQ

Summary

Concentric (Concentric.fi) was an automated liquidity management protocol built on Camelot v3 on the Arbitrum network, offering vault-based yield optimization for concentrated liquidity positions. On January 22, 2024, the protocol suffered a critical security breach when a team member's deployer wallet was compromised through a targeted social engineering attack, resulting in approximately $1.85 million in losses and a 57% crash in the CONE token price. The protocol was subsequently halted entirely, and blockchain forensics firm CertiK linked the exploiter's wallets to prior incidents targeting OKX, UnoRe, and LunaFi, suggesting a sophisticated and recurring threat actor.

Connected Entities

1 entities
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□Concentric
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    Timeline(7 events)

    13 December 2023

    OKX DEX exploit occurs, resulting in approximately $2.7 million in losses. Wallet later connected to the Concentric attacker is involved in this incident.

    22 January 2024

    Concentric Finance exploited via social engineering attack on a team member's deployer wallet. Attacker upgrades vault contracts, mints LP tokens via adminMint(), drains vaults of approximately 715 ETH. A second phase sweeps 65.4 ETH from user approvals. Total losses approximately 780 ETH (~$1.85 million).

    22 January 2024

    Cyvers detects suspicious activity. CertiK publishes Skynet alert identifying the exploiter wallet as linked to the OKX exploit. Initial loss estimates cited as approximately $1.6 million, later revised upward.

    22 January 2024

    Concentric team confirms breach via official channels, urges all users to revoke approvals on vault contracts, halts the protocol entirely.

    22 January 2024

    CONE token price drops approximately 57% following public announcement of the exploit.

    22 January 2024

    CertiK publishes full incident analysis linking the exploiter to OKX, UnoRe, and LunaFi incidents, indicating a pattern of coordinated attacks.

    22 January 2024

    Protocol announced as halted indefinitely, with 8 ETH and residual USDC remaining in the treasury.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain7 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 7 of 14 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:35 AM

    last updated: 8/30/2026, 5:14:08 AM

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