ThalaMicro-cap

Thala receives a C+ risk grade (39/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — already exploited once, with concentrated Aptos-ecosystem exposure and dangerously cheap governance capture An all-in-one DeFi platform on the Aptos blockchain offering token swaps, a stablecoin (MOD), and liquid staking. It manages $200M in deposits with $6M in funding. Its C+ grade reflects a $25.5M hack in November 2024 and the fact that all its collateral is tied to a single blockchain's token, creating concentrated crash risk.

The key risks identified for Thala are: (1) Hackers drained $25.5M in November 2024 by exploiting a missing security check -- the funds were recovered through a bounty deal, but the same pattern could repeat (2) Every type of collateral backing the MOD stablecoin is tied to the Aptos token -- if APT crashes hard, all collateral fails at the same time (3) With only a $3M token valuation, someone could buy enough voting power to take over the protocol and redirect its funds for less than the cost of a house

Thala scores 39/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 8/20, Oracle Surface: 5/10, Documentation Gaps: 3/10, Track Record: 8/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.

Among 111 rated DEX protocols on Hindenrank, Thala ranks #79 by safety (lowest risk score = safest). Its 39/100 risk score and C+ grade place it among the riskier DEX protocols.

Thala scores 8/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.