Meltdown
They’re at it again. And once more, we’ll all pay the consequences. The treatment isn’t a cure, just short-term relief. As chaos rages in TradFi, we must show resilience.
Euler Finance - REKT
Against the backdrop of a banking meltdown and stablecoin crisis, Euler Finance was struck a $197M blow. Many other projects had funds tied up in Euler, is anywhere truly safe?
Hedera - REKT
A nebulous threat rattled the entire Hedera ecosystem, yesterday. Dapps from across the network were affected and Hedera remains down while investigations continue. DeFi users spook easily… and with good reason.
Silvergate - REKT
Unbanking the banked. After a troubled few months, Silvergate has finally given up. A house of cards will collapse when shaken. Who's next?
Iron Bank vs Alpha Homora
Things move fast in DeFi, but this is a slow burner. A two-year old exploit, $30M of bad debt, holding user funds hostage... Worrying precedents are being set for conflict resolution in DeFi. How did we get here?
Hope Finance - REKT
Abandon Hope all ye who enter here. $1.86M was rugged from Hope Finance yesterday. It’s impossible to know whether the doxxed individual accused by the team is truly to blame. Don’t get your Hopes up.
Dexible - REKT
Crisis-comms calamity as cross-chain chaos continues… Dexible lost a total of $2M on Friday, on Ethereum and Arbitrum. In Dexible’s own words... "exploits happen in DeFi."
Platypus Finance - REKT
Evolution works in mysterious ways. Platypus Finance lost $8.5M to a flash loan attack on its recently-launched stablecoin. It’s a jungle out there... and, as ever, it’s survival of the fittest.
dForce Network - REKT
dForce Network was hit for $3.65M on both Arbitrum and Optimism. This attack on two fronts exploited a common reentrancy vulnerability. How much more will be lost to this bug?
Orion Protocol - REKT
The hunter has become the hunted. Orion Protocol fell prey to a $3M reentrancy exploit on ETH and BSC. The loss was contained to an internal broker account and user funds are safe. Let's hope they take a more Sirius approach in future.
BonqDAO - REKT
BonqDAO got bonked for $120M, but the anonymous attacker got away with less than $2M. The hacker was able to manually update the price feed of collateral by staking just $175 worth of TRB tokens.
Midas Capital - REKT
The Midas touch has backfired, leaving a $660K hole in one of its jFIAT pools. The read-only reentrancy vulnerability is a known weakness of a recently introduced collateral type. Let’s hope this rushed decision doesn’t prove to be Midas’ undoing this time…