Tim

[Pendle @pendle_fi]

Another top 6 things you didn't know about Pendle 🧐

[bgdlabs @bgdlabs]

Today, a series of transactions across different networks were detected showing what it looked like an exploit on some Aave peripheral contracts (not part of the Aave Protocol itself).

Before any further detailed report, we would like to clarify the following for transparency with the Aave and DeFi ecosystem:
- The smart contracts involved in said transactions are peripheral contracts, used from our understanding only on the https://t.co/BUQtHwyuO7 user interface. No core smart contract of Aave involving all pool dynamics is affected, or has any relation with these transactions.
- The smart contracts affected interact exclusively with the user using it, and with the contract itself. That means that any potential exploiter should never be able to affect any other users.
- The assets seemly extracted are result of what usually is denominated as “dust” on swaps, small leftovers left on the contract after a successful exchange. The contract has slippage protections, but full dust cleanup from itself is not a feature, and dust has been accumulated after a long period of time and numerous transactions. No funds were extracted from any user in these transactions, and all users funds are totally safe in what relates to Aave.
- https://t.co/BUQtHwyuO7 operates with exact approvals (permit with expiry when available) when interacting with these contracts. That means there is no vector related with “infinite approvals” possible, in addition to the previous point of one user not being able to affect anyhow another. For precaution, the maintainer of https://t.co/BUQtHwyuO7 (Aave Labs) has temporarily disabled those features and any other of similar nature while we finish the research.

As previously commented, a more detailed report will follow later on the Aave governance forum.

[Aave @aave]

Today we received a report of an issue on a certain feature of the Aave Protocol. After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk):

[Rune @RuneKek]

1)
While broader crypto is in shambles, Maker continues to grow its position as the biggest in DeFi

Everyone else shitcoin'd and ponzi'd. Maker built stuff that works & in the last month Dai grew by 400m

Next up is SubDAOs and they will be a gamechanger for growth in crypto

[ODOS @odosprotocol]

👀👇🏻

[Multichain (Previously Anyswap) @MultichainOrg]

1. On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. The team contacted the MPC node operators and learned that their operational access keys to MPC node servers had been revoked. Furthermore, these MPC node servers, like all other ordinary servers, were actually running under Zhaojun's personal cloud server account. No member of the team has access to Zhaojun's personal cloud server account, so nobody can log on to these MPC servers.

2. Later, the team established contact with Zhaojun's family and learned that all of Zhaojun's computers, phones, hardware wallets, and mnemonic phrases were confiscated by the authorities. Since the inception of the project, all operational funds and investments from investors have been under Zhaojun's control. This also means that all the team's funds and access to the servers are with Zhaojun and the police.

3. Due to the lack of information about the case, the team could only maintain project operations to the best of their abilities through the remaining access on some non-MPC servers that hadn't been revoked yet. Per the lawyer's suggestions, the team has chosen to cooperate as much as possible with the demands of Zhaojun's family and adhere to the requirements of local laws and regulations, refraining from disclosing unauthorized information about the case to the public.

4. On May 30, in a responsible approach toward the community, the team released the news about Zhaojun's disappearance and informed the community about the technical issues currently faced.

5. On June 4, Zhaojun's family successfully logged into the cloud server platform using the historical information on his home computer. However, Zhaojun's family only allowed Multichain team engineers physical access to the home computer to fix technical issues with Router2 and Router5.

6. During this period, Zhaojun's family and the lawyer were in communication with the police. The team was not informed about the details of the case but was notified that Zhaojun would be released soon and was asked to continue maintaining the system and await further updates.

7. The Multichain protocol continued to operate as designed. The team made every effort with limited resources to sustain the operation of the Multichain protocol and resolve user issues as much as possible.

8. On July 7, user assets locked on the MPC addresses were transferred to unknown addresses abnormally. According to Zhaojun's sister, login information from an IP address in Kunming was found on the cloud server platform, along with a series of operations transferring funds from the MPC addresses.

9. On July 9, Zhaojun's sister transferred the remaining user assets in the router pool and subsequently notified the team and several project parties of this asset preservation action. The funds were transferred to EOA addresses controlled by Zhaojun's sister.
0x1eed63efba5f81d95bfe37d82c8e736b974f477b
0x6b6314f4f07c974600d872182dcde092c480e57b

10. On July 13, according to information provided by Zhaojun's family, the police took Zhaojun's sister into custody. Now, Zhaojun's sister is also out of contact. The status of the assets she has preserved is uncertain, so the team believes it is necessary to inform the community about all the known circumstances.

11. Due to the lack of alternative sources of information and corresponding operational funds, the team is forced to cease operations. If there are any further notifications and developments, the team will update the community accordingly.

12. The Multichain team does not have the access to Domain Account to redirect or bring down the frontend https://t.co/v2pWSycJ0k. Please help amplify and ask users not to use the Multichain service anymore.
Can @GoDaddy help to bring down https://t.co/v2pWSycJ0k? Thanks.

[Nick Tomaino @NTmoney]

The Biden Administration’s crypto timeline:

- Sam Bankman-Fried is the second largest donor to Biden’s presidential campaign

- Biden appoints Gary Gensler as chairman of the SEC

- Gary Gensler hosts friendly meeting with Bankman-Fried and FTX execs, no action letter discussed

- After winning favor with the SEC, FTX is exposed as one of the largest frauds in history by the crypto community

- The SEC attacks sound, legal businesses who have been attempting to work in good faith with regulators for over a decade (Coinbase, Kraken)

[Multichain (Previously Anyswap) @MultichainOrg]

While most of the cross-chain routes of Multichain protocol are functioning well, some of the cross-chain routes are unavailable due to force majeure, and the time for service to resume is unknown. After service is restored, pending transactions will be credited automatically. Multichain will compensate users who are affected during this process, and the compensation plan will be announced later.

[Pendle @pendle_fi]

Yield Tokens for LSDs can be great way for you to gain outsized yield returns.

With just 1 $ETH, you could generate yield from 14 sfrxETH instead - a 14x leverage with liquidation risks.

The best part? This strategy is still available.

Here's how 🧵

[Livepeer @Livepeer]

What is the future of onchain media?

We will find out together at the inaugural Web3 Media Broadcast Summit, presented by @Livepeer @seedclub @onvessel_world @0xFoster

[Brian Feroldi @BrianFeroldi]

To double your odds of success, double your holding period

[Brian Feroldi @BrianFeroldi]

Capitalism is brutal

If you invest, you MUST know how to identify a moat

Here are 9 financial “rules of thumb” that Warren Buffett uses to tell if a company has one:

[Defi_Mochi @defi_mochi]

@RDNTCapital has been growing TVL non-stop ever since its V2 launch and has been listed on major exchanges @binance , @okx and @Bybit_Official

What is the #1 lending protocol on @arbitrum doing now?

Here's the latest stats 📊 from @DuneAnalytics to help you find out!

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