Skip to main content
Sign in

Ola Finance

avoid.net/ola-finance→28/100·82% 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·3TwJ4y…aSRP

Summary

Ola Finance is a multi-chain decentralized lending protocol offering a 'lending-as-a-service' platform that allows third parties to deploy isolated Compound-style lending pools across multiple blockchains. On March 31, 2022, the protocol's deployment on the Fuse Network was exploited via a reentrancy vulnerability in ERC677 token logic, resulting in approximately $4.67 million in stolen assets. The attacker used Tornado Cash to obscure initial funding, laundered proceeds through Ethereum and BNB Chain wallets, and was never publicly identified; a partial compensation plan was offered but fell materially short of full victim restitution.

Connected Entities

1 entities
Protocols
⌂Ola Finance
Relationships
    Have evidence about Ola Finance?

    Timeline(7 events)

    26 May 2021

    Fuse Lending Network powered by Ola Finance goes live on Fuse Network, initially supporting FUSE, WETH, WBTC, and USDC.

    31 March 2022

    Ola Finance's Fuse Network deployment exploited via ERC677 reentrancy vulnerability. Approximately $4.67 million stolen across USDC, BUSD, fUSD, WETH, WBTC, and FUSE. Attacker's seed capital sourced via Tornado Cash; stolen funds bridged to Ethereum and BNB Chain.

    31 March 2022

    Ola Finance and Voltage Finance pause all borrowing on affected networks, set borrower interest rates to 0% APY, and disable RainMaker rewards. Teams send on-chain message to attacker offering 10% (~$467,000) bounty.

    April 2022

    CoinDesk reports revised loss figure of $4.67 million following full accounting. PeckShield confirms reentrancy vulnerability diagnosis. Voltage Finance requests Circle, Etherscan, and CEX teams blacklist attacker addresses.

    April 2022

    Ola Finance publishes initial post-mortem on Medium detailing attack mechanism and immediate mitigations. Protocol estimates 1-2 months for remediation and relaunch.

    April 2022

    Ola Finance publishes Transparency Report and compensation plan: Fuse Foundation (250K USDC + 1M FUSE over 1 year), Voltage Finance (250K USDC + 40M VOLT over 1 year), Ola Finance (400K OLA tokens + up to $200K USDC option for sign-ups by June 30, 2022).

    30 June 2022

    Deadline for affected users to sign up for Ola Finance's USDC compensation option at $1 per future OLA token.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain4 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 4 of 12 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:50 AM

    last updated: 8/30/2026, 1:16:34 AM

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