Team Finance - REKT
There’s no $ in Team. Four projects got rugged through their shared anti-rug mechanism. $15.8M lost, and number 46 on the leaderboard. Go Team.
SBF - The Regulator
After aggressively farming many of DeFi’s most lucrative opportunities since 2020, SBF is now suggesting his own industry standards, many of which go against the entire concept of decentralisation. Sam says we need “customer protection”. But from who?
Moola Market - REKT
Bear markets offer easy opportunities to market manipulators, who find it easier to move prices when liquidity is low. Lending protocol Moola Market is the latest to fall victim to a “highly profitable trading strategy”, and the first CELO protocol on the rekt.news leaderboard (#63).
DAO Maker - Community Investigates
This is a community-led investigation by rekt.news readers. DAO Maker, after getting rekt for $7M and then $4M last year, proposed a compensation plan to the affected users. But it appears the team had a change of heart.
Mango Markets - REKT
Solana’s flagship margin trading protocol lost 9 figures to a well-funded market manipulator. The attacker managed to spike the price of Mango Markets’ native token MNGO and drain their lending pools, leaving the protocol with $115M of bad debt.
TempleDAO - REKT
TempleDAO’s STAX was hacked for approximately $2.3M worth of LP tokens. The vulnerable contract had been live for four months. Why did it take so long to be exploited?
Sushiswap's Grey area
Sushiswap has a new head chef. Let's hope he's washed his hands. After a long period of instability, the hiring of Jared Grey was supposed to bring back some focus to the “community fork” of Uniswap. But that focus has been misplaced already.
Sovryn - REKT
More fuel for the maxis. ~$1.1M was stolen from Sovryn, a “DeFi” protocol on the controversial “Bitcoin smart contract network” RSK.
BNB Bridge - REKT
Over half a billion stolen from the BNB bridge. If a chain can be stopped and started at a moment's notice, can it really be considered decentralised? Another bridge exploit, another entry on the leaderboard...
Transit Swap - REKT
Transit Swap has lost $21M to a vulnerability in its swap contracts. The cooperation between multiple security teams led to 70% of funds being returned. But a protocol using live, unverified contracts is never a good look in DeFi.
RIP MEV BOT
Zero pity. The notorious MEV bot known as 0xbad has fallen on hard times, just like the rest of us. After 75 days of exploiting value from unexpecting users, this mempool menace backfired on its owner, creating a beautiful display of on-chain karma.
Wintermute - REKT 2
Wintermute have lost over $160M to their second incident this summer. Using a vanity address for "gas savings" has cost them dearly. Last time, funds were returned, will Wintermute get lucky again?