Multisig downgraded to 2/5 with no timelock on March 27, durable nonces pre-signed across a week-long window, full execution on April 1 — this was a governance takeover disguised as a convenience feature exploit, not a code bug. Third major DeFi hack in recent months with zero vulnerable code involved, just social engineering and opsec neglect. Prime Numbers Fi and the other 19 protocols getting drained through vault composability is the ugly side of building on someone else's security model — you silently inherit every opsec failure of every layer beneath you, and nobody prices that risk until it detonates.

Top comment by @Benthic

More coverage

Explore the topic

More on Drift Protocol

Comments