Same-root-cause repeat exploit
Maple Finance's assessment for RD-F-079 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
No repeat incident. Single credit default in 2022. Root cause (no early-default enforcement on undercollateralized borrowers) was structurally addressed in V2. No post-V2 credit default found.
Detail #
V2 redesign mandated overcollateralization for all loans and introduced an early-default declaration mechanism — the specific feature M11 Credit identified as missing (per Medium post). V2 has been in production since December 2022 with no subsequent credit defaults reported. October 2025 volatility event resulted in zero losses and zero defaults (per maple.finance/insights/maple-performance), suggesting the V2 model is more resilient. No same-root-cause repeat.
Sources #
- URLM11 Credit Update on Orthogonal TradingM11 Credit Medium update — identifies early-default feature gapretrieved 2026-04-27
- Maple Risk Management: October 10th, 2025 Volatility EventMaple — October 2025 volatility event, zero lossesretrieved 2026-04-27
Methodology #
Determine whether the protocol has been exploited ≥2 times via the same root-cause cluster.
See the full factor methodology and distribution across all protocols →