Mmastodon BusinessCrypto first seen 1 d ago, last 1 d ago, peak #12
Abracadabra proposes dissolution after hacks and suspicious fund movements
Original: 🆕 Nouvel article SunLibCrypto Abracadabra propose sa dissolution après des hacks et des mouvements de fonds suspects Le
The Abracadabra DeFi project, whose stablecoin MIM is under-collateralized, is proposing to wind down its activities entirely. The move follows a series of hacks and suspicious movements of funds that have undermined confidence in the protocol. Observers in the crypto community are watching how MIM holders will be compensated and what the shutdown means for decentralized lending platforms more broadly.
Why now: A major DeFi protocol shutting down after security failures raises concerns about stablecoin collateral and investor losses.
Evidence
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