> ## Documentation Index
> Fetch the complete documentation index at: https://docs.webacy.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Vault Incidents

> Curated timeline of DeFi yield-vault exploits, depegs, and governance failures, with event categories and root-cause analysis for ERC-4626 stablecoin vaults.

The [Vault Incidents](https://depeg-monitor.webacy.co/vault-events) page is a curated timeline of exploits, depegs, and governance failures that affected DeFi yield vaults — protocols where users deposit stablecoins to earn yield. Unlike the real-time risk score, this is a historical record with root-cause analysis.

# Event categories

| **Category**            | **Description**                                                                                 |
| :---------------------- | :---------------------------------------------------------------------------------------------- |
| **Vault contract**      | Exploit or vulnerability in the vault's own smart contract code.                                |
| **Strategy / protocol** | The underlying yield strategy or protocol (e.g. Aave, Compound, Curve) had an incident.         |
| **Infrastructure**      | Bridge exploit, oracle manipulation, or cross-chain infrastructure failure affecting vault TVL. |
| **Stablecoin**          | The stablecoin held in the vault depegged, causing vault share value to fall.                   |
| **Governance / admin**  | Multisig compromise, malicious upgrade, or governance attack on the protocol.                   |

# Attack mechanisms

| **Mechanism**             | **Description**                                                                                  |
| :------------------------ | :----------------------------------------------------------------------------------------------- |
| **Oracle manipulation**   | Price feed manipulated to allow under-collateralised borrows or inflated vault share prices.     |
| **Flash loan**            | Single-transaction loan used to temporarily distort pool prices or drain reserves.               |
| **Reentrancy**            | Contract called back before state is updated, allowing multiple withdrawals against one deposit. |
| **Logic error**           | Bug in accounting, share calculation, or reward distribution.                                    |
| **Donation attack**       | Sending tokens directly to a contract manipulates share price calculations.                      |
| **Collateral mispricing** | LST or illiquid collateral mispriced relative to the underlying, creating exploitable spread.    |
| **Insolvency cascade**    | Undercollateralised positions trigger liquidations that propagate across protocols.              |
| **Liquidity freeze**      | Withdrawals blocked due to governance action, regulatory intervention, or protocol pause.        |
| **Bridge exploit**        | Validator compromise or logic error in a cross-chain bridge draining bridged stablecoin TVL.     |

# Event type badges

| **Badge**          | **Meaning**                                                               |
| :----------------- | :------------------------------------------------------------------------ |
| **Exploit / Hack** | Active smart contract exploit — funds lost or at immediate risk.          |
| **Rug / Drain**    | Insider-initiated fund drain or exit scam.                                |
| **Depeg**          | Stablecoin held by the vault lost its peg, reducing vault NAV.            |
| **Oracle**         | Oracle manipulation — not necessarily an exploit but abnormal price feed. |
| **Incident**       | Other category: governance issue, pause, admin action.                    |