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Zoth Protocol

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anchored·55vVxP…YnwN

Summary

Zoth Protocol is an Ethereum-based real-world asset (RWA) re-staking and tokenization platform founded in 2023 by Pritam Dutta and Koushik Bhargav. In March 2025 the protocol suffered two separate security incidents within three weeks: an initial $285,000 logic-flaw exploit on March 1 and a far more damaging $8.4 million deployer-key compromise on March 21 that enabled a malicious proxy contract upgrade. The protocol has since launched a user compensation program, engaged Crystal Blockchain BV for fund recovery, and announced a security overhaul backed by a $15 million strategic token commitment from Bolts Capital.

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Timeline(11 events)

2023

Zoth Protocol founded by Pritam Dutta and Koushik Bhargav.

Tracxn / The Org

March 2025

First exploit: attacker manipulates Uniswap V3 liquidity pool to exploit LTV logic flaw in mintWithStable(), draining $285,000 from the ZeUSD contract.

Verichains Blog

14 March 2025

Attacker funds a preparation wallet with 0.54 ETH via ChangeNOW and deploys a malicious smart contract, suggesting deliberate pre-attack staging.

QuillAudits Hack Analysis

20 March 2025

Attacker makes a failed attempt to upgrade the USD0PPSubVaultUpgradeable proxy contract, one day before the successful exploit.

QuillAudits Hack Analysis

21 March 2025

08:46 UTC: Attacker uses compromised deployer wallet (0x3604582f...218dca) to call upgradeToAndCall on the USD0PPSubVaultUpgradeable proxy, installing malicious implementation at 0xc89d7894...861f56.

Blockscope Research

21 March 2025

08:47 UTC: Attacker withdraws 8,851,750.37 USD0++ tokens (~$8.4M) from the now-controlled vault. Tokens swapped to DAI via CowSwap, then converted to ETH via Uniswap V2.

Blockscope Research

21 March 2025

Zoth publicly acknowledges the breach, states it is actively investigating and taking necessary steps.

Rekt News

21 March 2025

Asset issuer partners cooperate to freeze or lock approximately 73% of the protocol's TVL.

Rekt News

25 March 2025

Stolen funds reported consolidated in attacker wallets; Crystal Blockchain BV engaged for asset tracing. $500,000 public bounty launched via Securr.

CryptoTVPlus / BitcoinEthereumNews

April 2025

Zoth releases progress update: no significant changes in fund movements observed; tracking and investigation ongoing.

Bitget News

April 2025

Zoth announces 'Next Chapter' press release: $15M strategic token commitment from Bolts Capital, user compensation program, and phased ZeUSD relaunch with enhanced security measures.

PR Newswire
Provenance & Audit Trail

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (7 events). 15 of 15 cited source URLs have an Internet Archive snapshot.

model: claude-sonnet-4-6

generated: 6/1/2026, 5:49:54 PM

last updated: 9/11/2026, 1:32:20 AM

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