Over $6.4 million was stolen from users wallets on February 28, thanks to the bad tao of Seneca. Roughly 80% of the funds were returned within a day. Clearly Seneca knew there were issues, but chose the reckless route.
Governance is a theater. Dramatic walkouts from liquidity experts and risk managers alike serve as stark reminders of the complexities and challenges of decentralized governance.
On-chain black magic led to two of Abracadabra’s cauldrons springing a leak yesterday. $6.5M gone and MIM losing its magic... What dark arts are needed for a full repeg?
Infinite approvals… the ultimate leap of faith. Socket’s Bungee bridge lost $3.3M yesterday. Have you checked your approvals lately?
A fitting regulator for our circus of an industry. Yesterday, the SEC’s official Twitter account was compromised, announcing the approval of Bitcoin ETFs. Will the SEC investigate itself?
Gamma Strategies, an Arbitrum-based concentrated liquidity management protocol, was exploited for at least $4.5M, earlier today. Recently we wondered, "Can we do better this year?". So far, it’s not looking good.
It wasn’t just fireworks blowing up on New Year’s Eve... Orbit Chain’s Ethereum bridge lost $81.5M. What will 2024 bring?
2024 is off to a bright start... Lending protool Radiant Capital lost $4.5M, to a known bug. Keeping up with the security landscape is key, especially when dealing with forked code.
Gradually, then all at once. Levana Protocol lost over $1.1M to an oracle manipulation attack lasting almost two weeks. But if it hadn’t been for congestion, would they have even noticed?
The cost of doing business? 98%. $1.3M was lost yesterday when a Uniswap V3 whale LP made a costly fat-finger error. Who deserves the spoils?
The apes are out of their cages once more, but familiar dangers are ever-present. Each innovation spawns new ways to get rekt but, despite the risks, opportunity certainly is out there.
What is this, a bridge hack for ants? Yesterday, Hypr Network lost $220k to a bridge exploit. Forking code can be risky, especially when devs aren't up to date with issues in the source.