On June 2021, SafeDollar suffered a other — the first of 188 documented other incidents in our archive where the loss figure was not publicly disclosed but the exploit pattern is documented below.
SafeDollar’s price—which was supposed to always be equal to $1 since it’s a stablecoin—has plummeted to zero, according to the protocol’s own website
Attack Mechanics: How the SafeDollar Other Played Out
Exploit Class Applied to SafeDollar
The SafeDollar incident on June 28, 2021 is classified as a Other. A specific exploit class outside the most common buckets. In the full archive, SafeDollar is 1 of 188 documented other incidents.
SafeDollar in Context
The SafeDollar incident joins a class whose largest loss to date is MIMSpell (2024) at $65M.
Prior Other Before SafeDollar
The nearest other incident before SafeDollar was xWin Finance, 3 days earlier on June 25, 2021 ($300K lost). The same exploit class surfaced again within the other attack surface.
SafeDollar Vulnerability Signature
The primary source categorises the SafeDollar exploit specifically as “Deflationary token uncompatible”. This narrower label is entity-specific: it reflects how the SafeDollar contract failed, rather than the broad other pattern alone.
Impact & Recovery for SafeDollar
SafeDollar Loss Figure
The loss figure for SafeDollar is not publicly disclosed. The primary source reports the exploit in non-USD terms, so no USD estimate is published here. For reference, the average loss across 188 other incidents in our archive is $2.03M.
Timeline Since the SafeDollar Incident
The SafeDollar exploit occurred 4.8 years ago (1,751 days). The contract, its fork-block, and the attack transaction remain on-chain and forensically reproducible.
Primary Reference for SafeDollar
Public post-mortem / on-chain analysis for the SafeDollar incident: view source. Secondary narrative coverage: SafeDollar ‘stablecoin’ drops to $0 following $248,000 DeFi exploit on Polygon.
FAQ
How much did SafeDollar lose?
The SafeDollar loss figure is not publicly disclosed. The primary source reports the exploit in non-USD token terms, so no USD estimate is published here.
When did the SafeDollar hack happen?
The SafeDollar exploit was recorded on June 28, 2021 — 1,751 days ago.
What type of exploit hit SafeDollar?
The SafeDollar incident is classified as a Other. A specific exploit class outside the most common buckets.
How common is the Other pattern seen at SafeDollar?
Our archive contains 188 documented other incidents. The SafeDollar incident is one of them.
How does SafeDollar compare to the largest Other attack?
The largest other incident in our archive is MIMSpell (2024) at $65M. The SafeDollar loss was not publicly disclosed.
What does the GARCH (1,1) model aim to predict in the context of cryptocurrencies?
The GARCH (1,1) model aims to predict the volatility of cryptocurrency returns, identifying the effects of trading volume, information demand, and other variables.
What are the limitations of the current system, and how can they be addressed?
Limitations include scalability and privacy concerns, which can be mitigated through layer 2 solutions and privacy-preserving technologies.