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Kokomo Finance

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[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

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anchored·3u2HmE…NBGE

Summary

Kokomo Finance was a purported non-custodial lending and borrowing protocol launched on the Optimism blockchain on March 25, 2023. Within approximately 24 hours of launch, its developers executed a deliberate exit scam, stealing approximately $4 to $4.5 million in user funds through smart contract manipulation. The project was subsequently linked by on-chain investigator ZachXBT to a serial scam ring responsible for over $20 million in losses across multiple DeFi protocols.

Connected Entities

1 entities
Protocols
⌂Kokomo Finance
Relationships
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    Timeline(6 events)

    25 March 2023

    Kokomo Finance launches on Optimism, offering non-custodial lending and borrowing of WBTC, ETH, USDT, USDC, DAI, and native KOKO token.

    26 March 2023

    Developers execute exit scam: deployer address 0x41be deploys malicious cBTC contract, manipulates reward functions, drains approximately $4–4.5 million in user funds across Optimism, Arbitrum, and BSC. KOKO token crashes ~97%. Website and all social media accounts deleted.

    26 March 2023

    CertiK publicly flags the incident via its alert system, identifying the attack as an exit scam and the largest rug pull observed on Optimism at that time.

    31 March 2023

    CertiK publishes full post-mortem analysis, documenting technical attack flow, wallet addresses, and fund distribution across chains.

    November 2023

    ZachXBT issues warning about Lendora Protocol on Scroll network, connecting it to the same scam group behind Kokomo Finance, Magnate, and Solfire.

    14 April 2024

    ZachXBT publicly exposes Leaper Finance on Blast as the scam ring's latest operation, seeded with ~$1 million laundered from prior scams. Total ring losses identified exceed $20 million. Scammers taunt ZachXBT on X before deactivating accounts.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain9 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 9 of 10 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:43 AM

    last updated: 8/30/2026, 8:30:08 PM

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