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CriticalIncident
Sep 7, 2026

MIM depegged 94.8% below $1 on Ethereum ($0.0518)

Chain:Ethereum
MIM
Active

The incident remains unresolved; it stays active until recovery evidence supports closure.

What Happened

The price of MIM on Ethereum is currently $0.0518, 94.8% below its $1 peg target. Vaults that hold MIM as collateral or as the deposit asset are exposed to mark-to-market loss in proportion to their MIM allocation. Depositors should verify the cause (oracle, market liquidity, issuer event) before adding new capital.

Impact

Affected AssetMIM

Price Evidence

Observed price$0.05178
Mark-to-market proxy$162,374.494159
Tracked exposure basis$171,241.372423
Peg target$1.00
Observed drift-94.822%
VerificationCorroborated

The proxy is price drift multiplied by Philidor's tracked exposure estimate. It is neither realized loss nor an exact holdings balance.

Asset contract0x99d8a9…1e17f3
Quote observedSep 7, 2026, 11:21 PM
Decisionexact address provider quorum:2 of 2
ProviderRoleQuoteLiquidityObserved
dexscreenerprimary$0.05178$199,968Sep 7, 2026, 11:21 PM
defillamacorroborator$0.05227-Sep 7, 2026, 10:51 PM

Linked Vaults

Current total TVL of linked vaults. It is not asset exposure or a point-in-time loss estimate.

$0.00
VaultCurrent TVL
Beefy MIM/DAI/USDC/USDTInactive$431.43KBeefy MIM/DAI/USDC/USDTInactive$393.69KBeefy MIM/USDC/USDTInactive$292.64KUniswap V3 MIM/USDC 0.05%Inactive$598.95K

On-Chain References

This is an off-chain market-price observation, not an exploit transaction, so there is no transaction hash for this alert.

Asset References

MIMPrimary affected asset

Resources

DEX Screener marketDeFiLlama exact-address quote · corroborating source

Provenance & Methodology

Producerpeg-monitor
Verificationcorroborated

Exact-contract USD market-price monitoring. Score-affecting observations, public alerts, hard-fail flags, and recovery require agreement from a second exact-contract data provider; public alerts also require repeat confirmation and economic materiality.

Timeline

OccurredSep 7, 2026, 11:21 PM
DetectedSep 7, 2026, 11:21 PM
RecordedSep 7, 2026, 11:21 PM