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Impermax V3

avoid.net/impermax-v3→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·2tDXkS…pVY3

Summary

Impermax V3 is the third major iteration of Impermax Finance, a DeFi leveraged yield-farming and lending protocol that allows liquidity providers to use Uniswap V3 LP tokens as collateral. The protocol suffered two separate critical exploits in 2025 — a ~$300,000 flash-loan collateral valuation attack in April and a ~$380,000 liquidation logic exploit in November — both on the Base chain, resulting in cumulative losses exceeding $680,000 and leaving lenders with unresolved bad debt. These incidents follow a 2022 private key compromise affecting the IMX token, representing a recurring pattern of security failures across the protocol's history.

Connected Entities

1 entities
Organizations
□Impermax V3
Relationships
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    Timeline(10 events)

    December 2020

    Impermax Finance whitepaper published, outlining leveraged yield farming using LP tokens as collateral.

    29 April 2021

    IMX token launched via airdrop to approximately 35,000 Uniswap V2 liquidity providers. 14 million tokens distributed at token generation event.

    16 July 2022

    Private key compromise of several Impermax team wallets. Approximately 9 million IMX tokens and protocol-owned liquidity stolen. Team frontran attacker by selling tokens. IMX migrated to IBEX via pre-incident snapshot distribution.

    April 2025

    BailSec and Guardian each complete Impermax V3 Core audits prior to launch.

    26 April 2025

    Flash-loan exploit on Impermax V3 exploiting uncollected Uniswap V3 fee valuation flaw. Approximately $300,000–$400,000 drained from Base and Arbitrum pools. Attacker address: 0xE3223f7E3343c2C8079f261D59ee1e513086C7C3.

    28 April 2025

    Impermax Finance publishes official post-mortem on Medium. Protocol stabilization measures announced. Lender reimbursement plan based on pre-exploit snapshot committed to, with timeline unspecified.

    July 2025

    Joint re-audit of updated Impermax V3 Core completed by Guardian, BailSec (Charles Wang), and Cantina (Riley Holtereus).

    August 2025

    Guardian completes audit of Aerodrome Slipstream integration with Impermax V3.

    11 November 2025

    Second critical exploit on Impermax V3: liquidation routing logic vulnerability in cbBTC lending vault on Base. Approximately 5.39 cbBTC (~$380,000) drained. Team disables vault connections and advises all users to withdraw funds.

    2026

    Protocol TVL declines to approximately $98,000. Annual fee and revenue activity reported at effectively zero. Lender reimbursement status for both 2025 exploits remains unconfirmed publicly.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain15 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 15 of 18 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:24 AM

    last updated: 8/29/2026, 11:26:12 PM

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