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DeFi

A Drama Day For Defi: Optimism, Synthetix, Osmosis Suffered Damage

June 9, 2022 - Around 3 mins mins to read
The DeFi array in the last 24 hours has seen many “unbelievable” events possible with top projects like Optimism (OP), Synthetix founder Kain Warwick, Osmosis/FireStake, and a researcher who experienced DeFi rescuers “cheated”.
A Drama Day For Defi: Optimism, Synthetix, Osmosis Suffered Damage
Continuity of attacks in the Defi world

Optimism, a layer-2 scaling solution for Ethereum, has received a lot of attention recently thanks to the OP token airdrop event in early June, the morning of June 9 admitted a hacker had interfered with the OP allocation process. Wintermute, causing the project to lose 20 million OP, CoinCu also had an article about this news.

After the news that Optimism mistakenly transferred 20 million OP and was robbed by hackers, some events in the Defi world also happened.

Synthetix founder “wrongly burned” 10 million DAI

Founder Kain Warwick of Synthetix, the leading liquidity protocol on Ethereum and one of the OP-allocated projects by Optimism, has defended the incident.

Mr. Kain Warwick then related a recent personal experience in which he mistakenly burned 10 million DAI, or $10 million, because of a simple mistake.

FireStake profits from drama Osmosis

As reported by CoinCu, on June 8, the Osmosis DEX exchange on Cosmos was discovered to have a vulnerability, resulting in an estimated loss of more than $5 million.

The vulnerability appeared when a user added liquidity to the Osmosis pool and then tried to withdraw the money only to find his asset value increased by 50%. After being spread, many users discovered the vulnerability was real and massively used it for profit.

Osmosis then had to close the DEX and also stop the underlying blockchain while fixing the problem.

On June 9, FireStake, a staking project and participating as a validator for many blockchains of the Cosmos ecosystem, including Cosmosis, revealed “shocking” information that they had participated in the “robbery” on the internet and withdraw a large amount of money.

FireStake representatives wrote on Twitter “funny” words after attacking the project as follows:

Researcher DeFi was “cheated” to help hackers

Finally, the Twitter account CIA Officer, a well-known anonymous figure in the DeFi community, on June 8 admitted a “foolish” act of himself.

This person said that a few days ago, he responded to a request for 1 MATIC from another user and agreed to help. The other person then used this 1 MATIC to attack the ApolloX project, causing 1.6 million BUSD damage.

https://twitter.com/officer_cia/status/1534574147669475331

Because of the amount of 1 MATIC, many people suspected that the CIA Officer was the culprit behind the incident, forcing this researcher to stand out and complain in front of the community.

https://twitter.com/officer_cia/status/1534573861064278016

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

CIA Officer

FireStake

hacked

optimism

Osmosis

Synthetix

Wintermute

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

A Drama Day For Defi: Optimism, Synthetix, Osmosis Suffered Damage

The DeFi array in the last 24 hours has seen many “unbelievable” events possible with top projects like Optimism (OP), Synthetix founder Kain Warwick, Osmosis/FireStake, and a researcher who experienced DeFi rescuers “cheated”.
A Drama Day For Defi: Optimism, Synthetix, Osmosis Suffered Damage
Continuity of attacks in the Defi world

Optimism, a layer-2 scaling solution for Ethereum, has received a lot of attention recently thanks to the OP token airdrop event in early June, the morning of June 9 admitted a hacker had interfered with the OP allocation process. Wintermute, causing the project to lose 20 million OP, CoinCu also had an article about this news.

After the news that Optimism mistakenly transferred 20 million OP and was robbed by hackers, some events in the Defi world also happened.

Synthetix founder “wrongly burned” 10 million DAI

Founder Kain Warwick of Synthetix, the leading liquidity protocol on Ethereum and one of the OP-allocated projects by Optimism, has defended the incident.

Mr. Kain Warwick then related a recent personal experience in which he mistakenly burned 10 million DAI, or $10 million, because of a simple mistake.

FireStake profits from drama Osmosis

As reported by CoinCu, on June 8, the Osmosis DEX exchange on Cosmos was discovered to have a vulnerability, resulting in an estimated loss of more than $5 million.

The vulnerability appeared when a user added liquidity to the Osmosis pool and then tried to withdraw the money only to find his asset value increased by 50%. After being spread, many users discovered the vulnerability was real and massively used it for profit.

Osmosis then had to close the DEX and also stop the underlying blockchain while fixing the problem.

On June 9, FireStake, a staking project and participating as a validator for many blockchains of the Cosmos ecosystem, including Cosmosis, revealed “shocking” information that they had participated in the “robbery” on the internet and withdraw a large amount of money.

FireStake representatives wrote on Twitter “funny” words after attacking the project as follows:

Researcher DeFi was “cheated” to help hackers

Finally, the Twitter account CIA Officer, a well-known anonymous figure in the DeFi community, on June 8 admitted a “foolish” act of himself.

This person said that a few days ago, he responded to a request for 1 MATIC from another user and agreed to help. The other person then used this 1 MATIC to attack the ApolloX project, causing 1.6 million BUSD damage.

https://twitter.com/officer_cia/status/1534574147669475331

Because of the amount of 1 MATIC, many people suspected that the CIA Officer was the culprit behind the incident, forcing this researcher to stand out and complain in front of the community.

https://twitter.com/officer_cia/status/1534573861064278016

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News