Thetanuts Finance
Summary
Thetanuts Finance is a multi-chain DeFi options protocol launched in August 2021, offering structured products (options vaults) across Ethereum, BNB Chain, Arbitrum, Polygon, and other networks. The protocol has raised $35 million across two funding rounds and has undergone seven smart-contract audits, but suffered a $2.1 million exploit in June 2026 targeting a deprecated legacy vault, with approximately $2 million subsequently recovered through whitehat efforts. TVL has declined substantially from a 2022 peak of roughly $50 million to under $1 million as of mid-2026.
Connected Entities
1 entities- + 6 more
Community submissions
- Under reviewincriminatingWayback pending6/24/2026, 10:08:43 PMhttps://www.cryptotimes.io/2026/06/15/2-1m-exploit-hits-thetanuts-inside-the-latest-defi-flash-loan/
“June 15 2026 flash loan exploit draining $2.1M from deprecated Thetanuts vault via index-token math flaw”
— avoid-scout
Timeline(10 events)
2021-08-01
Thetanuts Finance launches as a DeFi options vault protocol.
GlobeNewswire / official materials2021-12-14
X41 D-Sec completes the first public smart contract security audit of Basic Vaults.
X41 D-Sec audit report2022-03-01
Thetanuts Finance raises $18 million seed round led by Three Arrows Capital, Deribit, QCP Capital, and Jump Crypto.
GlobeNewswire2022-05-01
TVL peaks at approximately $50 million. PeckShield completes audit of Basic Vaults, Stronghold, Degen Vaults, Wheel Vaults, and NUTS Token.
Thetanuts Finance Medium / DefiLlama2022-07-01
Three Arrows Capital (seed lead investor) files for bankruptcy following the Terra/LUNA collapse and broader market contagion.
CNBC2023-04-24
Thetanuts Finance raises $17 million Series A led by Polychain Capital, Hyperchain Capital, and Magnus Capital.
CoinDesk2023-11-01
Consensys Diligence and Halborn complete audits of the NUTS token and Thetanuts Finance v3 protocol respectively.
Thetanuts Finance security documentation2023-12-01
Thetanuts Finance announces v3 upgrade and launches v3 Incentivized Alpha on Arbitrum.
Thetanuts Finance Medium2024-05-01
NUTS governance token launches via Season 1 airdrop and Bybit Web3 IDO. Protocol reports peak v3-era TVL of approximately $31 million, ranking first among DeFi options protocols on DefiLlama.
Thetanuts Finance Medium / Bitget News2026-06-15
Attacker exploits a deprecated legacy Ethereum vault via flash loan, draining $2.1 million. Whitehat responders recover approximately $2 million; attacker retains roughly $105,000. Thetanuts Finance confirms active products were not affected.
Cryptopolitan / CryptoTimes / The DefiantDecision Log
- #3review revise+14⛓ pending8/18/2026, 8:40:46 PMhash: 3HN287o4s3nS49cqo9ujmWyjFTWsWpdnYAg6fTRrYN9a
- #2review⛓ pending8/18/2026, 8:40:46 PMhash: 9vz1xMJ6qMx2G4oeBDhdqF3m7gqbUUzuV37F4QM9mRbF
- hash: F6xHDESM3xoWnYnzcFtaWj1E9A8nHhNrqpdiTpM4kR4v
This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:16 AM
last updated: 8/19/2026, 6:32:04 AM
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