Exploiting the situation for marketing may backfire, since bad news reflects on all crypto and karma can return harm

Friendly competition is fine, but avoid dunking on others after a hack There's a classic Chinese idiom: 落井下石 — dropping stones on someone who has fallen into a well

Best wishes to the project's developers and community; the incident appears to have been resolved professionally. Confidence in $ZEC remains 🫡

Lots of pain, anger and fud on the timeline. Quick attacks on other builders should be avoided — the same could happen to any favourite coin or network next. This was never easy.

With a coordinated effort, $164,000 of the $573,200 transferred from the compromised private key was frozen It was a team effort, and the rapid response was impressive. Thanks to all who assisted

Allowing funds to be frozen mid-swap grants too much power and responsibility

A good outcome is welcome, but it's unclear whether the industry still needs custodial brokers outside centralized exchanges. The sector is moving toward clearer distinctions between custodial and

Such behavior might look like a marketing opportunity, but bad news reflects on all crypto and karma can come back to bite

Support for friendly competition is fine, but avoid being quick to dunk on others after a hack A classic Chinese idiom applies: 落井下石 — drop stones on one who has fallen down a well

Dancing on graves is lame

Private key handling appeared amateurish, with memecoin trading on production multisig keys, which helps explain why attackers targeted them THREAD BELOW

On-chain data shows multisig signers performing non-multisig activities such as trading memecoins, swapping on DEXs, and bridging, creating phishing risks by linking production multisig keys to websites

The threat doesn't require malicious intent from LZ Labs; their history of poor opsec and a prior North Korea-linked hack increase concern

A community researcher reported major projects like Ethena and EtherFi were still using that default library as recently as a few weeks ago About $178 million remains exposed from projects still relying

Over $3 billion of LZ OFTs were recently at risk because a default library contract could be upgraded instantly by LZ Labs with no timelock, allowing forged messages similar to the rsETH hack

Heated debate erupted in a security community chat earlier today between a LayerZero representative and security researchers TLDR summary:

Situation is being monitored 🤔

glad you think so - stay safe out there

Storing seed phrases in a password manager may seem convenient but introduces an avoidable security risk

An easy backup-to-password-manager feature for a new embedded wallet was briefly implemented but later removed because it introduced an unnecessary attack vector Less convenient, but the most lo-fi method