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Edgy - The DeFi Edge ๐Ÿ—ก๏ธ
@thedefiedge
I help busy people cut through the noise in DeFi. Systems driven research without the hype or bs.
๊ฐ€์ž… January 2022
208 ํŒ”๋กœ์ž‰ ์ค‘    299.5K ํŒฌ
๐Ÿšจ The Damage Report (Sept 14) Some updates on various hacks, outage, lawsuit, and shutdown in DeFi in one post: โ€ข Notional Finance's escrow contract got drained for $1.7M in DAI and USDC. The exploiter swapped it into 689.2 ETH and sent it straight to Tornado Cash. โ€ข Someone lost $2.1M after clicking a phishing link that showed up in a ChatGPT response. Yes, really. Check your links, even the ones AI hands you. โ€ข Liquid Network lost ~4,000 BTC (~$320M). Attackers found a hole in its transaction-validation software and minted unbacked L-BTC. โ€ข Robinhood Chain went dark for 14+ minutes on Sept 4. That's ~8,400 missed blocks at 0.1s a block. Not great for the chain everyone's farming right now. โ€ข Ledger is staring down a $500M class action over its 2023 data breaches. The lead plaintiff lost nearly $2M to scammers pretending to be Ledger support. โ€ข Harmony is shutting its mainnet after seven years and moving ONE to Ethereum. Deadline to exit smart contracts was Sept 10. โ€ข Router Protocol is calling it after four years. Burning 303M ROUTE and pulling off CEXs before the Sept 30 shutdown. Seven years for Harmony and 4 for Router. Nothing in this space is too old to die.
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