Is WOOFi Safe?
Risk Grade: C (50/100)
WOOFi is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
High risk — already exploited for $8.75M via a known attack pattern that remains viable on other deployed chains
A multi-chain decentralized exchange that uses a custom pricing algorithm fed by centralized market makers instead of traditional liquidity pools. It manages $30M in deposits. Its D+ grade reflects a $8.75M hack in March 2024 where an attacker used flash loans to manipulate the pricing engine, and the same attack could be repeated on other chains.
TVL
$6M
Mechanisms
7
Interactions
6
Value Grade
D+
Key Risks for WOOFi Users
A hacker stole $8.75M in March 2024 by crashing the WOO token price through the custom pricing algorithm -- this exact attack can be replicated on other chains
All prices come from one company's market-making operation -- if that system goes offline, the exchange quotes stale prices and bots drain your deposits
The exchange runs on 5+ blockchains, and a coordinated attack could drain pools across all of them before anyone can hit the pause button
Top Risk Factors
- •sPMM pricing algorithm was exploited for $8.75M in March 2024 via flash loan manipulation of WOO token price on Arbitrum
- •Entire pricing model depends on WOO Network centralized market makers for oracle feeds; market maker failure causes stale or manipulable prices
- •Multi-chain deployment multiplies the attack surface; the March 2024 exploit pattern could be replicated on other chains with low WOO liquidity
Risk Score Breakdown
WOOFi's highest risk area is Oracle Surface (8/10). Here's how each dimension contributes to the overall 50/100 score:
Read the Full WOOFi 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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