Skip to main content
Sign in

MonoX

avoid.net/monox→10/100·100% 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·2wzmxy…3kcm

Summary

MonoX was a decentralized exchange protocol built on Ethereum and Polygon using a novel single-token liquidity model, which raised $5M in September 2021 and launched mainnet shortly before suffering a critical smart contract exploit on November 30, 2021. The attacker exploited a missing validation check in the swap function — using the MONO token as both input and output — to artificially inflate its price and drain approximately $31M in user funds across both chains. The protocol attempted a relaunch via MonoX 2.0 with a debt-token compensation mechanism, but MONO has since collapsed to near-zero value with negligible trading activity.

Connected Entities

1 entities
Organizations
□MonoX
Relationships
    Have evidence about MonoX?

    Timeline(10 events)

    17 September 2021

    MonoX closes $5M funding round led by Krypital Group with participation from Animoca Brands and other investors.

    October 2021

    MonoX undergoes smart contract audits by PeckShield and Halborn prior to mainnet launch.

    November 2021

    MonoX mainnet launches on Ethereum and Polygon with swap and single-token liquidity features.

    30 November 2021

    Attacker exploits the _updateTokenInfo function by swapping MONO-for-MONO approximately 55 times across Polygon (~$19.4M) and Ethereum (~$12M), draining ~$31M total in user funds.

    December 2021

    MonoX team publishes exploit post-mortem, pauses contract, files police report, and begins coordinating with exchanges to monitor stolen funds. SlowMist and ImmuneBytes publish technical analyses.

    December 2021

    Dispute emerges between Halborn and MonoX regarding whether the vulnerability was flagged in the pre-launch audit.

    3 January 2022

    Deadline for fund recovery passes; MonoX introduces dMONO debt-token compensation plan for affected users.

    4 January 2022

    MONO token reaches all-time high of approximately $2.18 before beginning a sustained collapse.

    2022

    MonoX 2.0 relaunches with bonds and pools functionality; team commits to revenue-driven buybacks for dMONO vault.

    2024

    MONO token trades on a single exchange (HTX) with near-zero volume and price; protocol is functionally dormant with no confirmed full restitution to affected users.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain10 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 10 of 14 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:53 AM

    last updated: 8/30/2026, 8:47:33 PM

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