Is Tapioca Safe?
Risk Grade: D+ (65/100)
Tapioca is rated as high risk — extreme novelty, critical interactions, unproven at scale.
High risk — already hacked for $4.5M by nation-state attackers, with critical unpatched vulnerabilities across 15+ chains
A lending protocol that works across 15+ blockchains simultaneously, letting you borrow on one chain using collateral on another. It holds about $10M in deposits. Its D- grade comes from a catastrophic $4.5M hack by North Korean actors in October 2024, critical smart contract bugs, and the extreme complexity of operating across so many networks at once.
TVL
$10M
Mechanisms
7
Interactions
5
Value Grade
D-
Key Risks for Tapioca Users
North Korean hackers stole $4.5M in October 2024 through a social engineering attack -- the TAP token crashed 96% and never recovered
Security audits found bugs that would let an attacker create unlimited fake collateral and drain every lending pool across all 15+ chains
The entire system depends on one messaging service (LayerZero) -- if it goes down, your money is stranded on whatever chain it happens to be on
Top Risk Factors
- •Devastating $4.5M exploit in October 2024 via social engineering attack attributed to North Korean actors — TAP token crashed 96%
- •Critical smart contract vulnerabilities in BigBang and Singularity markets allowing infinite collateral share manipulation
- •Omnichain architecture across 15+ networks via LayerZero creates massive cross-chain attack surface
Risk Score Breakdown
Tapioca's highest risk area is Track Record (15/15). Here's how each dimension contributes to the overall 65/100 score:
Read the Full Tapioca Risk Report
This protocol has 3 collapse scenarios. 2 critical and 2 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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