Happy Tuesday, Blockfolians
The Lede
This is a wild one.
What happens when DeFi’s most in-demand developer teases a project; the DeFi degens discover the unaudited, unreleased contracts; said degens pump $16m into it; and a hacker exploits an undiscovered vulnerability to train all of that?
The first pre-release DeFi hack, that’s what.
Sam from FTX did a nice job summing up the whole thing.
Some explored whether more could have been done to avoid the hype cycle that led to this.
Either way, one of the wilder (and fastest) episodes in the summer (and now fall) of DeFi.
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Highly Relevant Reading
In a big win for privacy, Gemini now supports shielded Zcash withdrawals
Avalanche already has more than $1B staked
New Zealand’s tax authority is asking crypto firms to turn over customer info
Can Permission.io make advertising data private? $50m bets yes
Community Commentary
Excuse me, 7x?
There is a HELL of a lot of debate about this one…
A Really Big Number We Should Be Paying Attention To
$52M
That’s the size of Bitpanda’s Series A, the largest in Europe in 2020, led by Peter Thiel’s Valar Ventures
Final Thought
🤯