Osita

@rukky_nate @Oluwajjuwon001 @o_Lamidayo Seems you too don’t even understand your own post

@Oluwajjuwon001 @o_Lamidayo 🤦‍♂️

By the time you reach 35 and your life dey for standstill, then you go know say atheism na only for wealthy people. You can’t be poor and be an atheist at the same time. You’re either with God or with a god.

@syfaeth How is his liquidation price 77$ at 40x 😏

Berkat tuhan Trader ini modal receh $2 berani short $RAVE cuan gede $2,3k

@DriftProtocol @tether So in other words, we lost stables, but we will be paid back in a token that’s likely to dump 90% immediately after launch.

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery. These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool. Learn more 👇

@0xNIC0 @reflectmoney After the long silence, you write a bunch of garbage again, without addressing the main issue, when will users be refunded, while put all USDC+ in a single protocol?

A lot of questions have come in about USDC+ and single-venue allocation. Given everything that's happened, it's worth walking through the reasoning directly. What follows is personal, not an official statement from Reflect. Every architectural decision at Reflect starts from one principle: the protocol does not take custodial control over user assets. Full stop. That principle is what led to single-venue allocation for USDC+ beta, and the reasoning is important to understand. Distributing collateral across multiple venues means rebalancing between them. The question is: who does the rebalancing and on what basis? If the team moves collateral between venues at its own discretion, that action starts to look like custody. It doesn't matter what the smart contracts say if the team is the one deciding where funds sit. This isn't a theoretical distinction. The SEC recently clarified that DeFi interfaces operating in a non-custodial, non-discretionary manner may operate without broker-dealer registration, while those that exercise discretionary control over user assets fall inside the regulatory perimeter. Where a protocol sits on that line matters, and it informed how Reflect was built from day one. I was not willing to cross that line. The standard was that rebalancing must happen permissionlessly, on-chain, driven by allocation weights determined through independent risk analysis rather than the team's own judgment. That required the smart contract infrastructure to support multi-venue routing, and an independent risk framework to inform the allocation decisions. This is not the easy path. But I believe it's the right one, and that the space will ultimately move in this direction. Both remain a core focus for the team. Drift was the lending venue that USDC+ launched on. Moving collateral away from it to another venue after launch would have been the same kind of discretionary team action over user assets that the entire architecture was designed to prevent. None of this changes the outcome for the people affected, and I understand that. Building with conviction doesn't guarantee the outcome. I'm not sharing this to explain away what happened. I'm sharing it because the people who used Reflect beta deserve to understand the architecture and the thinking behind it. Building the right way is slower. It's harder. But I didn't start Reflect to take shortcuts. More to come. Official updates through @reflectmoney.

@News_Arena_ Safer to have your money in your wallet instead, protocols are hacking themselves, non can be trusted

💥 If you choose to deposit in the SoDEX vault to complete your #SOSO Season 2 verification, you may not actually lose any money, not even a cent. In fact, you could even make a little profit depending on when you bought Mag7ssi tokens. For example, a trader who bought at $0.45 and completed 120% verification with $140+ would have made a little profit when the price later increased to $0.5 and could choose to withdraw at that point. In summary: Depositing on vault is more advisable for someone with little or no trading experience. ⚠️Snapshot is happening soon, complete your verification as much as you can and position for the future rewards.

@dango Protocols now hacking themselves😏

Earlier today, Dango experienced a security incident. An attacker exploited a bug in the insurance fund's logic and drained USDC collateral held in the perps contract. The bug is that the insurance fund allows anyone to donate to it, but it fails to check that the donation amount is positive. This issue is isolated to the insurance fund donation logic, which has now been removed, and does not impact order matching, PnL settlement, liquidation, or any other part of the trading system. Thanks to a bridge rate limit in place, the damage is limited: the attacker was able to bridge $410,010 USDC off to Ethereum while the bulk of the exploited funds ($1,490,012) remain on Dango and are recoverable. The attacker is: Dango account: 0x023ef9e3e20caca6ef3743cbfba6469d69978999 Ethereum account: 0x271d1f2f4194e61f2a17ea82d82e31cea9f6762a In the meantime, we have paused the chain and are now recovering the $1,490,012 stuck in the exploiter's account that they were unable to bridge out of Dango. We have also contacted the team at @SEAL_911 who have since notified @circle and all major exchanges. All affected users will be made whole. The protocol will be fully operational again soon. We invite the exploiter to reach to us at info@leftcurve.io and negotiate a bug bounty. The points program will be postponed until a later date. More updates to follow.

@enesonchain @Only1temmy @reflectmoney @reflectmoney has been mute for a week now, take out your USDT+ , if you can, they are bunch of scammers

@Only1temmy i was just tryna farm @reflectmoney .. L bunch of scammers

my $200 worth of stablecoin is now worth $135 but even for $135 i cant sell as there is no liquidity in the pool thanks drift, thanks solana defi

@CryptoCurb @DriftProtocol @Driftprotocol was hacked by @Driftprotocol, they are just waiting for people to move on, and so is @reflectmoney, so they won’t pay back users for something definitely their fault

has @DriftProtocol apologized to their users yet and/or provided a plan for how they plan to recoup their customers lost funds? yes- the hack was very sophisticated. no- that’s still not an excuse to sign transactions/download apps on the same device that drift admin keys are located on. no- that’s still not an excuse to have only 2/5 multisig approval + 0 timelock. I was very fortunate to not have any funds on drift/drift partners, but $250M+ in user funds were lost and so far all I’ve seen is a pity party for the drift team.

@maxvayshia 🤣🤣

No need to start any conversation. Walk past her and mind your business. Have some self respect

@lorddrey Something very dumb

What is he about to do?

@0xNIC0 @reflectmoney You put all USDC+ in a single protocol when you made it known to users, you will diversify, this is your fault and fault of the entire team, and you have to take responsibility for your mistake and pay back our money back and spare us all this long post.

A week in, and I want to speak directly. We put out an official update from @reflectmoney earlier this week. If you haven't read it, please do. What follows here is personal, not an official statement from Reflect. It's how I'm thinking about this, and what you should expect from me going forward. I'm not going to dress this up. This week has been rough. I know it's been rough for some of you too. And I know that nothing I write here fixes that. I started Reflect because I believe deeply in what this infrastructure can be. That conviction hasn't changed. If anything, this week has sharpened it. But I also understand that, on my end, conviction means very little right now if you're sitting there wondering what happens next. So let me be straightforward about where things stand rather than ask you to take my word for anything. The situation across the ecosystem is still developing, and the team is monitoring every part of it closely. Drift today publicly acknowledged the impact this has had on builders who integrated with them. I can't give you a timeline or a guarantee right now, and I'm not going to pretend otherwise. This space has a pattern of promises made in the heat of the moment that quietly disappear weeks later. I refuse to add to that. As developments relevant to affected USDC+ holders arise, including through our ongoing contact with Drift and counsel, we will communicate them clearly and promptly. I know the pause on USDC+ is frustrating, and I know that waiting without a clear picture is harder than most things in this space. Any changes to its status will be communicated as part of these updates. I want to acknowledge the people who have reached out this week. Some of you have had hard questions. Some of you are frustrated. Some of you are angry. All of that is completely understandable. But many of you have also reached out with support, with patience, and with genuine belief in this team. I don't take that lightly. I appreciate all of it, and it matters more than you know. I'd rather be straight with you about where things are than give you something that sounds good today and falls apart tomorrow. That's not how I operate, and it's not how this team operates. If you've followed this journey from the start, you know that. If you're new and still figuring out whether we're the kind of team that shows up when it matters, I understand. Watch what we do next. I think about the people affected every day. That hasn't left my mind once this week and it won't going forward. The team is working on this every single day, and I'll continue sharing my perspective here as things develop. Official updates will continue to come through @reflectmoney and my own account.

@sol_nxxn And their is,@reflectmoney, even if they refund users, they should never forget the silence when it matters, and never put your money in such protocol ever again.

8 days of silence is crazy I understand how stressful this is and I genuinely feel for the team, no one wants to be in that position But when you’re one of the biggest companies in the industry, with a lot of money and a big team, there’s a responsibility that comes with it You have to show up, communicate, stay transparent, especially when thousands of your users lost money I do feel bad for the team, but I feel more for the people who lost their funds

@reflectmoney If you have USDT+ in @reflectmoney, take out your money asap, and never look back, it will be a 💯 financial risk, if you still leave your money there or in any future project by the same incompetent team if they fail to refund users that lost their money, which is their fault.

Confirmation of Impact WRT Drift Protocol Incident Over 20 Solana protocols with downstream exposure to Drift were affected. Reflect was among them. How this affects Reflect Beta users USDC+ collateral was allocated to Drift as its lending venue. As a result of the exploit, USDC+ collateral deployed to Drift was impacted. The approximate value of USDC+ collateral allocated to Drift at the time of the incident was ~$1.9M. USDT+ was not affected. USDT+ operates on Reflect’s newer venue routing framework, which distributes collateral across multiple venues, and had no exposure to Drift at the time of the incident. Minting and redemptions for both USDC+ and USDT+ were paused immediately after detection of the exploit. Immediate Actions Taken The team has been in active daily contact with legal counsel, law enforcement, and the Drift team regarding the situation since the day of the incident. Beyond the immediate response, the team is conducting an extensive review of all available options with counsel. This includes monitoring developments around Drift’s own recovery and remediation process, law enforcement proceedings, and third-party recovery efforts underway across the ecosystem. We are not in a position to make specific commitments at this time, but we are taking this seriously and evaluating every avenue available to us. We expect to provide a further update within two weeks. Relaunching Reflect Reflect’s relaunch will follow the completion of a thorough, public review of all yield venues on the Solana network. This review will go beyond conventional smart contract risk and will cover vectors that are not always visible to end users, including multisig configuration changes, admin key activity, governance parameter modifications, and other operational risk factors that this exploit has shown are critical to monitor. We will not relaunch products until this process is complete and we are confident in the protections in place. Where to follow updates All official updates will be shared through @reflectmoney and @0xNIC0. Do not trust information from any other source.

@basq0x @reflectmoney @reflectmoney took that long to think about ways to scam their community and not refund the money, useless team, pity anyone that will ever put their money there.

It took a full week to finally admit out loud that $1.9 million in USDC+ just vanished. Regardless of their excuses, @reflectmoney is beyond saving. Trust cannot be rebuilt with refunds alone. A team that spends a week in silence after an incident and refuses to engage with its community via Discord (from day 1) has already proven they aren't equipped to fix this.

@reflectmoney Wrote long garbage without making any single point of what users who lost their money wants to hear, relaunch? lol, pay users their money back or get lost with your stupid product.

@chocoo_web3 @basq0x @a16zcrypto The most annoying part

@basq0x @a16zcrypto Yep they are radio silent

These fuckers still won't admit they’ve completely wiped out user funds, even days later. It’s unreal we’re still dealing with grifters like this. @a16zcrypto’s backing them btw. Absolute disgrace.

@basq0x @a16zcrypto @reflectmoney, how are you going to repay us our money?

@Wizarab10 😂😂😂

You can date her now. After all, you've found the lost treasure.

@axeonsol @derparsel @DriftProtocol @reflectmoney @project0 My money just disappeared from my phantom wallet

@derparsel @DriftProtocol @reflectmoney @project0 who said funds on @reflectmoney are insured? does that mean users are safe?

List of protocols exposed to @DriftProtocol and current status 👇 🔸 @reflectmoney - USDC+ is farming yield on Drift; mint and redemption of USDC+ has been frozen; funds are insured 🔸 @project0 - protocol paused; no new borrows can be made agains drift positions 🔸 @piggybank_fi - $106.4k/$4M of funds were deployed to Drift (~2.6%) 🔸 @ranger_finance - rUSD has exposure to Drift, but no statement from the team so far 🔸 @uselulo - Classic deposits may be affected according to the team 🔸 @DeFiCarrot - team confirmed no significant exposure to Drift for CRT yield (actually only $600) 🔸 @xplaceapp - uses Drift (besides Kamino) for yield on Savings, no statement from the team so far 🔸 @GetPyra - uses Drift for yield and credt; user funds withput open loans are moved away for security reasons 🔸 @TradeNeutral - no remaining NT Vaults should be affected 🔸 @elementaldefi - uses Drift for USDC Vaults, no statement from the team so far 🔸 @Loopscale - team confirmed no exposure to Drift 🔸 @synatraxyz - team confirmed no exposure to Drift

@LCorejz @reflectmoney My USDC+ just disappeared from my wallet

@reflectmoney @Ositavalent All funds were in this protocol

Joined crypto to escape inflation. My stablecoins earn 0%. April fools