Incident All ledgers
Meerkat Finance: $31.0m
Meerkat Finance lost $31.0m on 4 March 2021. Ranked 97th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 4 March 2021
- Lost
- $31.0m
- Returned or repaid
- None recorded
- Target
- DeFi Protocol
- Category
- Rugpull
- Method
- Admin Drain
- Chains
- BSC
Meerkat Finance lost about $31M from its vaults on March 4, 2021, a day after launch, when an attacker abused permissionless proxy initialization to take admin control. The team later ran a refund program covering over 95%.
Against the ledger
- It ranks 97th of the 1,272 incidents with a known loss, and 21st in 2021.
- It accounts for 38.4% of the $80.8m in known losses in March 2021.
- 40 incidents in the ledger are classified as Rugpull, for $284.7m in total. This one is 10.9% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 29 Oct 2021 | AnubisDAO | $60.0m | DeFi Protocol | Admin Drain | — |
| 23 Jun 2021 | StableMagnet | $27.0m | DeFi Protocol | Backdoor Contract | — |
| 20 Feb 2019 | Coinbin | $26.0m | CEX | Admin Drain | — |
| 02 Aug 2023 | Bald | $23.0m | DeFi Protocol | Liquidity Rug | — |
| 25 Nov 2021 | Snowdog | $18.1m | DeFi Protocol | Liquidity Rug | — |
All failures in 2021 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “Meerkat Finance, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/meerkat-finance-2021-03-04/. How this is built