Xtina

This incident is unrelated to Squid’s core protocol and contracts. All Squid users and integrators are unaffected and no action is needed. A third-party Gnosis Safe module was exploited today across Base and Ethereum, resulting in approximately $3.2M in losses. The vulnerable contract is verified on Basescan under the name “SquidRouterModule” but this contract was not built, deployed, or operated by Squid. It is a third-party smart-wallet product that chose to integrate with Squid, among other protocols, but has not been in contact with us. The exploit worked because the third-party module accepted a caller-supplied constant string as proof that a message was secure. If you pass in this string (which is publicly available in the verified contract’s code), then you can execute an array of arbitrary calldata, stealing funds at will. The victims’ Safes had added this faulty contract as a trusted Safe Module, which gives the contract the ability to spend any tokens in the Safe without signatures. Squid’s own router (0xce16F69375520ab01377ce7B88f5BA8C48F8D666) is architecturally different and was not touched. Squid user funds, approvals, and integrations are fully secure. Early public reporting may reference “SquidRouter” due to the contract’s verified name on Basescan. The accurate framing is: a third-party SquidRouterModule was exploited, not Squid’s Router contract. The contract shares our name but is not our code. We are monitoring the situation and will share updates if anything changes materially.

Thank you for believing in Squid ✨ This is just the beginning.

Proud of today’s announcement. The bar for capital raise in crypto has never been higher. Smart people are still deploying in crypto today, but the thresholds are rightly stricter than they have ever been. We’re really excited to show you what we’ve been building.

@squidrouter Go team go!!🥹✨💜

The Squid team is small but mighty, united by a common goal and a shared passion for what we build. We believe in crypto, and crypto means every asset, accessible to everyone, anywhere in the world. We believe in Squid. Let's hear it from some members of the Squid team 🧵

My *biggest* learning after 10 years of hiring for start-ups Personality is way more valuable than skill or experience (for non-technical roles) You can teach most things to the right person, and we're all learning on the job anyways.

I believe rigorous and joyful are not opposites in a product worth using I believe in Squid.

Security is insanely important in our industry We launched Squid in a sector that has suffered more exploits than any other Security isn’t interesting. You can’t hype it. You don’t care about it until it matters, and then it’s all that matters We have to get this right

You can have your cake and eat it too. Some people think being playful and serious are contradictions, but the best crypto brands have put the two together seamlessly. Joy and sincerity can marry together in a way that makes sense when you experience it. Squid is proof of that

Xtina believes too ✨

Also as a follow-up to this Someone told me once in startups you should hire very, very slowly (and fire very fast) Your team is way too important to get wrong.

@ashcrypto_x and this is why most of them fail or come to a halt - new industries need new ways of thinking

@0xtna but institutional grade people and even big crypto companies prefered traditional candidates over crypto candidates. this is the worst sign of hiring in crypto.

We need to talk about hiring in crypto Hiring is really, really hard. But it is *so* important to get it right Your team needs two qualities more than any other: being driven, and being able to tolerate uncertainty. There aren’t many characters who can do both and not burn out Find them and hire them

@Sigma_Salchi totally agree

@0xtna Heavy on uncertainty, because many people are scared of the unknown, both the good and bad side of it. Having people who execute, regardless of how they feel, produces results faster.

@byzianna_ I find with the right amount of curiosity people who join an experienced team can still thrive

@0xtna i agree but i think you need several more aspects to hire the right person; you need people with experience more importantly; and the truth is most of the people who started their careers here in crypto don’t have the experience still.

@dan_uptop 100%!

@0xtna true, but also need leadership that inspires enough confidence to make it easier to push through the uncertainty.

@supnyn 💜💛

@0xtna u don’t need anything else when your brand color hits like squid’s

Some people think being playful and serious are almost contradictions, but the best crypto brands have put the two together seamlessly.

The standout products of this era of crypto and tech will put playfulness and technical sincerity together in a way that makes sense when you experience it. That is truly great taste, and that is our aspiration with @squidrouter ✨

Admin reveal

✨More✨ founder content pls Going to start posting unfiltered thoughts here Where should I start?

@squidrouter never leaving

Our beliefs are more similar than you may think. How do we know? You’re here.