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Spartan Protocol

avoid.net/spartan→12/100·85% 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·5xaSPk…yUKX

Summary

Spartan Protocol is a decentralized liquidity and synthetic-asset protocol that launched on Binance Smart Chain (BSC) in 2020 and was operated by a fully anonymous, community-driven team. On May 2, 2021, a critical vulnerability in the protocol's liquidity-share calculation logic was exploited via flash loan, resulting in approximately $30 million in stolen funds — ranking it among the largest DeFi exploits of that era. The protocol attempted a v2 rebuild with re-audited contracts but has since fallen to near-zero TVL and market cap, with no meaningful development activity recorded after 2024.

Connected Entities

2 entities · 1 linked investigation
Organizations
□Spartan
Protocols
⌂Spartan Protocol
Relationships
    Also appears in
    Spartan Protocol·28

    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 Spartan Protocol?

    Timeline(11 events)

    18 September 2020

    CertiK begins audit of Spartan Protocol v1 smart contracts; audit revised October 5, 2020. No critical vulnerabilities reported.

    5 October 2020

    CertiK audit finalized with no critical findings. Protocol proceeds toward launch on Binance Smart Chain.

    February 2021

    Spartan Protocol publicly operational on BSC with SPARTA token distributed via Proof-of-Burn mechanism.

    2 May 2021

    Flash loan exploit drains approximately $30 million from Spartan Protocol liquidity pools. Attacker uses 100,000 WBNB flash loan from PancakeSwap to exploit calcLiquidityShare() vulnerability. Attacker address: 0x3b6e77722e2bbe97c1cfa337b42c0939aeb83671.

    2 May 2021

    PeckShield and Amber Group publish independent root cause analyses. SPARTA token falls 30–70% within hours of news.

    2 May 2021

    Spartan Protocol team publishes post-mortem and recovery roadmap via Twitter and Medium, announcing plans to work with Binance on fund recovery and resume v2 development.

    3 May 2021

    Over $100,000 in additional user funds reported still at risk across multiple BSC pairs (WBNB, BUSD, CREAM, ETH, BURGER, XRP, DOT, LINK, RAVEN).

    2022

    Code4rena competitive audit of Spartan Protocol v2 contract suite completed, funded in part by Binance BUIDL grant.

    25 September 2023

    Last recorded update to spartan-docs GitHub repository, signaling slowdown in documentation maintenance.

    7 March 2024

    Last recorded commit to spartan-contracts GitHub repository, indicating near-cessation of active development.

    19 April 2025

    CoinLore reports no price data received for SPARTA after this date, suggesting possible delisting or abandonment. Market cap falls to approximately $13,000.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain13 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 13 of 23 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:58 AM

    last updated: 9/1/2026, 4:16:57 AM

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