Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall

Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall

In an unusual twist for the latest DeFi exploit, the users were the ones to walk away in profit. It’s as miraculous as Aladdin taking off on a magic carpet: in a possible first, some of the users of a decentralized finance protocol were the ones to benefit today from an exploit, turning the concept of a ‘rugpull’ on its head. A colloquialism for when liquidity is drained from a project (often an unscrupulous founder or developer draining the funds themselves), depositors and DeFi users are most often the ones holding bad debt and/or worthless tokens — left to hope for compensation plans....


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