☠️Multichain Exploited For $120M
DeFi Alpha
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GM Defiers!
Happy Friday! Yet another bridge exploit saw Multichain lose over $120M of assets yesterday, underscoring the risks associated with custodial cross-chain bridges. Next, we turn to DappRadar's latest report that spotlights a surprising uptick in web3 activity in June despite the regulatory crackdown on top centralized exchanges.
We then examine an unconventional project, VMPX, that has managed to outpace regular heavy hitters in terms of Ethereum gas consumption. Finally, we look at the ongoing SEC investigation into BarnBridge, a protocol for trading structured derivatives,
✍️ In today’s newsletter:
- Attacker drains Multichain bridge
- Nearly 2M wallets interacted with dApps in June
- VMPX token spikes Ethereum gas
- BarnBridge shuts down amid SEC investigation
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