Professional Sleuth 🕵️ Yield Optimizer ✍️ NFA DYOR 🔮
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Joined January 2016
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Here is the breakdown and flow of funds with what I've confirmed so far:
1) Through a series of transactions, the exploiter flash loan attacked the gmCauldron lending contracts, resulting in ~6271 $ETH being stolen ($13MM at the time). @GMX_IO has stated that this is not an issue pertaining to GMX, meaning its an issue related to @MIM_Spell. Below is one of the transactions:
arbiscan.io/tx/0xd9c8f176f08…
Following $SPELL exploited funds, will share more as it progresses, currently just consolidated most
Controversial take, but lets recap the recent "exploit":
1) @re issues a stablecoin named $reUSD
2) $reUSD gets listed on @pendle_fi to create SY-reUSD, PT-reUSD and YT-reUSD
3) These assets then gets listed on @Morpho to leveraged yield farm
4) A freshly funded wallet uses enough size to push price 3% (enough to liquidate users who maxed out LTV/loan health) while leaving no bad debt on Morpho.
5) Pendle says everything worked as intended so users shift blame @SteakhouseFi, steakhouse blames the oracle on Morpho that they configured (I believe, correct me if false) so blame shifts to Morpho, and Morpho gives no statement since theres no bad debt on their platform, just users who got liquidated.
Genuinely sounds like a highly profitable trading strategy using enough capital to stomp out the degenerate farmers. Morality aside, can someone explain what the exploit here is, seemingly everything functioned as intended.
Aggregates all top LLMs and does it near instant too, check this one out:
council.darkgrove.io/
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INTΞRN retweeted
The #1 multi-model AI tool for your most important questions.
Ask The Council combines the leading models (Opus 4.8, Grok 4.3, GPT-5.5, etc.) into one interface with no compromises.
It's like OpenRouter Fusion (but without reasoning caps or token trimming or cheap routing).
Interesting release here, Ask the Council hits Grok, Opus, Sonnet, Gemini + OpenRouter in parallel with native tools and additional perks.
Check it out below:
Free tool that all sleuths should use - lets you decompile unverified contracts, makes tracking / locating exploits far easier and requires no sign ups @DarkGroveio
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We built this for auditors, DeFi researchers, and anyone staring at an unverified contract wondering what it really does.
Link below!
So the jaredfromsubway.eth exploiter tornadoes the $ETH, then keeps ~2.5m in $DAI? I've never understood why white/black hats do this versus either washing all or complying with the bounty. Perhaps he doesn't trust his own opsec?
etherscan.io/token/0x6b17547…
Impressive tooling from @DarkGroveio , makes on-chain forensics and security easier 🤝
Seemingly the majority consensus is that the $rsETH / @LayerZero_Core exploits impact on @aave is bearish as a whole for DeFi. There is some truth to this as its horrible optics.
I can't think of a stronger bull case for isolated markets ie @Morpho which would've contained the exploited funds to only rsETH markets versus a widespread issue.
Lots of factors play into all of this of course, but if for example you deposit $WBTC / $WETH to borrow $USDT, it makes no logical sense as to why you should be taking on additional risk because other users wanted to increase their risk tolerance with derivatives.
I'm not saying this as a bear post on AAVE either, but highlighting how it differs from Morpho outside of simply picking whatever has a lower interest rate isn't spoken about enough, if it was it could've potentially saved people millions short term.
INTΞRN retweeted
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INTΞRN retweeted
how to master defi
- get an understanding of how ethereum works
- do basic swaps on uniswap, lend on aave
- ask yourself how it works under the hood, try to answer
- learn defi basics from youtube and protocol docs
- study AMMs (uniswap v2/v3, balancer, curve), liquidity provisioning, impermanent loos, lending protocols, LTV
- find a protocol with a liquidity mining campaign (like @katana) and start farming incentives on LPs
- study tokenomics and emissions. at some point research ve 3,3 as well
- study smart contract risks, read rektnews
- learn mev, slippage, oracles
- research different types of bridges
- learn onchain analysis with arkham/etherscan/nansen
- understand narratives and capital rotation
- learn how to do R:R assesment, make sure you are good at DYOR
- start farming in defi with bigger capital, diversify farms
- start reading vitalik's blog, cobie's blog, hack post mortems, messari crypto reports
- learn how to read solidity, at least things you'll need on etherescan
- ask smart people or LLMs hard questions on defi. Use gemini's canvas to repeat
- feel free to ask me recomendations on who to follow and what tools to learn
learning the fundamentels is the best thing you can do in a bad market.
good luck
Borrowing against BTC / eth positions on @Morpho on mainnet and farming with stables on @pendle_fi is still an insanely easy way to earn 8%+ with minimal risk of liquidation compared to 0% holding spot
