Just another day in DeFi: A hack, a rug-pull, and $10M saved
The decentralized finance (DeFi) sector is a financial frontier zone, home to some of crypto’s most risk-on experiments. As a result, few days go by without a dose of DeFi drama. But it’s not all bad news… Backdoor vulnerability left $10M at risk Security researchers at VennBuild announced the discovery of a “critical backdoor” vulnerability, in which suspected North Korean hackers had laid a trap affecting “thousands of smart contracts, leaving over $10,000,000 at risk for months.” We @VennBuild just discovered a critical backdoor on thousands of smart contracts leaving over $10,000,000 at risk for months Along with the help of security researchers @dedaub @pcaversaccio, the seals team @seal_911 and others, we managed to rescue the majority of funds… — deebeez (@deeberiroz) July 9, 2025 Read more: Whitehat hacker rescues $1.5M from first DeFi hack of 2025 Uncovered in conjunction with other researchers from Dedaub and the DeFi Security Alliance (SEAL),...