QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$61 000 USD
AUGUST 2025
GLOBAL
GRIZZIFI
DESCRIPTION OF EVENTS
GrizziFi is a decentralized finance (DeFi) platform launched on the Binance Smart Chain (BSC) on August 12th, 2025. Designed to simplify and democratize access to DeFi, it allows users to stake BNB tokens through fully autonomous smart contracts, eliminating the need for administrative control and enhancing security. The platform caters to both novice and experienced users by offering an easy-to-use interface and transparent operations.
The core feature of GrizziFi is its staking model, which offers three fixed-term options with competitive returns: 5.6% over 7 days, 14% over 14 days, and 36% over 30 days. Users benefit not only from their own staking activities but also from a unique 17-level passive income system, encouraging community engagement and incentivizing users to grow the network.
Security and sustainability are central to GrizziFi’s mission. The smart contracts are audited, and the platform incorporates strategic yield farming and liquidity provision to support long-term viability. GrizziFi positions itself as more than just a staking tool—it aims to be a robust, community-driven ecosystem focused on steady, sustainable income and capital growth within the broader crypto space.
The description on DappRadar reads:
"GrizziFi is a next-generation decentralized finance (DeFi) staking and yield farming platform built on the Binance Smart Chain (BSC). Our mission is to simplify DeFi, making it secure, transparent, and accessible to everyone — from beginners to seasoned investors.
With GrizziFi, you can stake your BNB directly through 100% smart contracts, ensuring there is no admin control and your funds remain safe. Our platform offers competitive and flexible staking plans:
5.6% – 7 Days 14% – 14 Days 36% – 30 Days In addition to personal staking rewards, GrizziFi introduces a 17-Level Passive Income System, allowing you to earn from your network’s activity and grow together as a community.
We prioritize security with audited contracts and long-term sustainability through strategic yield farming and liquidity provision.
GrizziFi is more than just a staking platform — it’s a community-driven ecosystem built for steady income and long-term capital growth in the evolving crypto landscape."
Unfortunately, it appears the the Grizzifi smart contract rewards mechanism contained a fundamental flaw which allowed for a quick exploit.
According to a report by TenArmor, the rewards mechanism of the Grizzifi smart contract was exploited by the attacker.
The hacker separated the attack into two steps, first creating news controlled wallets to amplify the `milestoneReward` through the `harvestHoney` function, then withdraw the `milestoneReward` with the `collectRefBonus`.
Security report from #AgentLisa @AgentLISA_ai shows the root cause is that team milestones based on total investments (including withdrawn) instead of active investments.
Victim Contract: 0x21ab8943380b752306abf4d49c203b011a89266b
Attack Transaction 1: 0xdb5296b19693c3c5032abe5c385a4f0cd14e863f3d44f018c1ed318fa20058f7
Attack Transaction 2: 0xdb4f2c0d2ab8f029d9576dc96b0a9b547ef6c90e17a7a3146b27514dfeba6bba
TenArmor has reported a loss total of $61k.
It appears that the GrizziFi project did not officially respond to the incident.
The incident was reported on by TenArmor several hours later. The Grizzi Fi website appears to be offline.
There is no indication of any recovery.
The GrizziFi website appears to have gone offline, and it is unclear if the project was exploited or has performed a rug pull. There does not appear to be any assistance available for affected users.
GrizziFi was a decentralized finance (DeFi) platform launched on the Binance Smart Chain on August 12, 2025, offering BNB staking with attractive fixed returns and a 17-level passive income system. While it promoted itself as a secure, community-driven ecosystem with audited smart contracts and long-term sustainability goals, a critical flaw in its rewards mechanism was quickly exploited. According to security firms TenArmor and AgentLisa, the exploit involved manipulating milestone rewards through self-created wallets and flawed logic that counted total rather than active investments. The attacker drained approximately $61,000, and the GrizziFi team has not issued any response. The project's website is now offline, with no signs of recovery or support for affected users, raising concerns about a possible rug pull.
TenArmor - "Our system has detected a suspicious attack involving #Grizzifi on #BSC, resulting in an approximately loss of $61K." - Twitter/X (Aug 14)
First Attack Transaction - BSCScan (Aug 14)
Second Attack Transaction - BSCScan (Aug 14)
Grizzifi Exploiter Address - BSCScan (Aug 14)
Meta Trust Labs - "The hacker separated the attack into two steps, first creating news controlled wallets to amplify the `milestoneReward` through the `harvestHoney` function, then withdraw the `milestoneReward` with the `collectRefBonus`." - Twitter/X (Aug 14)
Grizzifi Hack - Agent Lisa (Aug 14)
Meta Trust Alert - "#MetaTrustAlert #Grizzifi contract on #BNBChain was attacked with a loss of $61K." - Twitter/X (Aug 14)
Grizzifi Smart Contract - BSCScan (Aug 14)
Grizzifi Smart Contract Creation - BSCScan (Aug 14)
Grizzi Fi - DappRadar (Aug 14)
GrizziFi Homepage (Aug 14)
Grizzifi - "Hey Grizzifi Tribe! The wait is over — our hive doors are officially OPEN! It’s time to follow the bear, fill your jars, and start your journey to sweet profits." - Instagram (Aug 14)
Grizzifi - "Ready to stake and earn with GrizziFi? It’s super simple! We’ve prepared a full step-by-step guide to help you start your journey and grow your passive income." - Instagram (Aug 14)
https://dappradar.com/dapp/grizzi-fi/about (Aug 14)
Apparent Audit - Haze Crypto (Aug 14)
Grizzi Fi Demo Link - RkDemoLink (Aug 14)
Haze Crypto Homepage (Aug 14)
