If you see this in our ratings, pay attention.
Parameter Authority measures who controls the levers:
> collateral types
> withdrawal limits
> contract upgrades
And more importantly: how quickly those levers can be pulled.
> No multi-approval.
> No timelock.
> One privileged key.
> Instant execution.
April 2026 alone:
→ Drift — ~$285M
Privileged access was used to whitelist fake collateral and drain real assets.
→ KelpDAO / rsETH — ~$290M+
A single-point-of-trust bridge setup turned into a systemic DeFi shock.
→ Wasabi — ~$5M
An apparent deployer/admin-key compromise enabled malicious upgrades and cross-chain drains.
> Different protocols.
> Different mechanics.
> Same pattern.
The risk was not only in the code. It was in the control layer.
> Who can change the system?
> How many people need to approve it?
> Is there a timelock?
> Can users react before execution?
That is exactly what Xerberus ratings are designed to expose.
DeFi does not only fail when smart contracts break. Sometimes it fails because one key can move too fast.
@safetyth1rd@tid_research Transparent risk ratings for all assets, protocols, pools, and organisations?
Say no more!
Drilled down to the individual mechanism and failure points. Open for anyone to contribute.
https://t.co/0sSoPjgL2c
This is real, the issue I have, is this should not be owned by any specific DeFi project team.
It needs to be
1. Open source
2. Collaborative and consensus driven
3. Incentive aligned
One of the main reasons I feel @xerberus is building the right type of infrastructure.
One of my main aims at EthCC was to get subscore authors into the risk frameworks from every DeFi project. Collectively we can move the needle as all the domain experts contribute openly and set a base of what is the minimum standards we all collectively agree on.
Why this is important- as DeFi is moving to capture more outside capital, 2 main questions always arise, I know this as we host dinners in London via the “Ledger Private Members Club” and the conversations always revolve around these.
1. What is the risk
(Can I show this to my investment committee)
2. Is it compliant
(Can this pass DD 😂 damn lawyers)
At Xerberus - we are never paid to issue ratings of the risk as this creates conflict of interest. Staying truly independent is extremely important.
You can see when incentives are misaligned in finance we end up with the 2008 financial crisis.
If you are interested in pushing this please reach out to become a subscore author, contribute your experience and keep it open source.
@binji_x@CharlieStLouis
With all this renewed talk about Biden.
Let’s revisit THIS:
This is a picture of Biden straight off of the Getty Images website.
Look at the top of his ear.
There’s no other explanation.
Something truly bizarre was going on from 2020-2024.
@irexit_ @AlternativeEsme @_TruthZone_ Most likely, or in the worse case it's an actual clone and rapid human cloning is real.
Another actor playing Jim seems more probable though.