Dego Finance - REKT
Goodbye Dego Finance.
~$10M taken across three chains from Dego and their strategic partner Cocos-BCX.
Dego have claimed this to be a case of compromised keys, leaving us wondering:
Why didn’t they use a multi-sig?
The “lego of the decentralised world” protocol has asked Binance to pause deposits of their native token.
They’ve also asked Uniswap to prevent users from trading $DEGO, suggesting the founders might not understand the DeFi legos that feature in their branding.
Incompetence, or bad intentions?
Another case of “compromised keys” leaves us with little to say.
Obviously the attacker took it all.
Slowmist shows a list of the stolen assets.
Attackers address on ETH: 0x118203b0f2a3ef9e749d871c8fef5e5e55ef5c91
And Binance Smart Chain, and Cronos
The attacker helped themselves to multiple LP tokens on both BSC and ETH, and then minted 600k DEGO, causing the price of DEGO to fall by 16%.
Despite their poor security decisions, the DEGO price chart shows a steady recovery, perhaps due to their large following on Twitter (~194K) and other medias.
Since the attack, Cocos-BCX have switched ownership to a multi-sig.
We should expect Dego Finance to do the same.
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