Skip to main content
Sign in

Exactly Protocol

avoid.net/exactly→32/100·82% 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·1JtUEC…1LM2

Summary

Exactly Protocol is a decentralized, non-custodial fixed-rate and variable-rate lending protocol deployed on the Optimism Layer 2 network. On August 18, 2023, the protocol suffered a critical exploit resulting in approximately $7.3–$12 million in ETH stolen from 117 user accounts due to insufficient input validation in its DebtManager periphery contract. The protocol has since resumed operations, engaged law enforcement, offered a $700,000 bounty, and passed a governance proposal to compensate affected users with EXA tokens.

Connected Entities

2 entities · 1 linked investigation
Organizations
□Exactly
Protocols
⌂Exactly Protocol
Relationships
  • + 1 more
Also appears in
Exactly Protocol·58

Connected Through

1 shared actor · 1 investigation

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

Have evidence about Exactly Protocol?

Timeline(11 events)

July 2021

Exactly Protocol founded by Gabriel Gruber and Lucas Lain under Exa Labs.

November 2022

Exactly Protocol launched on Ethereum Mainnet.

March 2023

Exactly Protocol deployed on Optimism Layer 2 network.

18 August 2023

Exploit executed via malicious market address in DebtManager contract; approximately $7.3–$12 million in ETH stolen from 117 user accounts. Protocol temporarily paused. EXA token fell over 12%.

19 August 2023

Protocol published post-mortem identifying DebtManager vulnerability. $700,000 bounty announced for information leading to attacker arrest and fund recovery.

September 2023

Protocol team contacted US Department of Homeland Security; HSI opened case NY02HR23NY0001. Chainalysis engaged to trace stolen funds.

September 2023

ABDK Consulting completed audit of remediated DebtManager contract; Strategies section of web app re-enabled.

October 2023

EXAIP-03 governance proposal approved; one million EXA tokens allocated as compensation to 117 hack victims, with 48-month linear vesting beginning June 2024.

June 2024

Vesting of EXAIP-03 compensation tokens commenced via Sablier NFTs for affected users.

February 2025

Exactly Protocol announced partnership with Uphold fintech platform to integrate Exa Credit Card and Exa Loans.

March 2025

Exa App launched to general users in 160+ countries, enabling crypto-backed credit cards and fixed-rate lending.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain11 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 11 of 21 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:38 AM

last updated: 8/30/2026, 5:14:10 AM

avoid.net — verified advice for a post-truth world