Topic

Exploit

2 essays

Sunday — May 24, 2026

Tokenization

StablR Minting Multisig Compromised; $2.8M Exploit Triggers Depeg

When a minting key gets compromised, the loss vector is operational, and most institutional risk frameworks are not built for that.

Sunday — May 17, 2026

Tokenization

KelpDAO $293M Exploit Exposes Institutional Tokenization's Critical Security Gap

Read essay

LayerZero's single-verifier setup did not just cost Kelp DAO $292 million. It accelerated the split between open DeFi infrastructure and the permissioned rails that institutional capital will actually use.