🚨 Another DeFi hack.
The market maker and liquidity provider TrustedVolumes has been hit for around $5.9M.
According to Blockaid, the following has already been drained:
• 1291 WETH
• 206K USDT
• 16.9 WBTC
• 1.26M USDC
And here's what you need to understand: the issue isn't just with the "hackers."
DeFi is still a space where:
- one bug in a smart contract,
- one vulnerability in a proxy,
- one compromised key can wipe out millions in minutes.
Many dive into DeFi for high yields, but hardly anyone considers the hidden risks of the infrastructure.
This is another reminder:
there's no such thing as "safe" yield without understanding:
• where the funds are,
• who controls the contracts,
• whether there's an audit,
• how centralized the protocol is.
In crypto, you are your own bank. That means the responsibility is yours too.
$BTC
The market maker and liquidity provider TrustedVolumes has been hit for around $5.9M.
According to Blockaid, the following has already been drained:
• 1291 WETH
• 206K USDT
• 16.9 WBTC
• 1.26M USDC
And here's what you need to understand: the issue isn't just with the "hackers."
DeFi is still a space where:
- one bug in a smart contract,
- one vulnerability in a proxy,
- one compromised key can wipe out millions in minutes.
Many dive into DeFi for high yields, but hardly anyone considers the hidden risks of the infrastructure.
This is another reminder:
there's no such thing as "safe" yield without understanding:
• where the funds are,
• who controls the contracts,
• whether there's an audit,
• how centralized the protocol is.
In crypto, you are your own bank. That means the responsibility is yours too.
$BTC
