The risk layer for onchain finance. $278B+ monitored in real time at: https://xitter.cf/t.co/zBxwdlyz8l.
DD.xyz
Joined July 2021
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Issuers acted quickly as well. Webacy's freeze tracker recorded:
→ 5 USDC addresses frozen on Ethereum
→ 9 USDT addresses frozen on Tron
→ 1 BUSD address
early on, with many more trickling in after immediate freezes.
The speed of execution of the compliance layer was unprescinded. Meanwhile, the market was (and still is) processing what happened.
One token did cross into our "WATCH" risk tier: USDe, at 23:55 UTC.
It held between scores 23–26 for about 2.5 hours before reverting.
So what does this all mean?
Risk goes beyond stablecoin price or reserves. A ~$6.3B CEX breach produced measurable stress signals across 24 stablecoins within 60 minutes. While the peg held this time, who knows what could happen next time. Continuous monitoring flagged major signs of stress even if all pegs remained in tact.
We should consider ourselves lucky that this exploit did not result in a major depeg in this case. An exploit of this size presents a great opportunity to review risk controls, and ensure they function in an emergency.
Digital assets open an entirely new world of possibilities, including the ability to steal, launder, and hack. Now more than ever, we must realize the connection of every part of the risk stack: code, liquidity, governance, reliance, everything.
webacy.com/blog or dd.xyz for more
Webacy retweeted
yesterday the industry experienced it's largest security incident yet (Binance).
Webacy's risk engine flagged the attacker-linked addresses within minutes of the first suspicious transactions. We're now actively tracing the flow of funds across chains.
Tracing after an exploit is becoming more complex than ever, and attackers keep getting more sophisticated. Tools have to keep up, and more importantly, prevention has to grow faster than the threat. No single team can solve this alone. We need every team, and many more builders, working on it.
Incidents like this are a reminder that risk and security can't be an afterthought. Real-time monitoring and fast attribution are critical infrastructure for everyone in digital assets.
If your team needs address data or exposure checks, reach out.
Our investigators are observing never-seen-before laundering patterns with the stolen funds from the Binance exploit. Thousands of transactions in a short period suggest that the attackers are using automation to obscure the trail of funds. Rather than simply moving funds onward, they repeatedly circulate them among addresses, often sending funds back to addresses involved earlier in the sequence.
Read more: chainalysis.com/blog/binance…
yesterday the industry experienced it's largest security incident yet (Binance).
Webacy's risk engine flagged the attacker-linked addresses within minutes of the first suspicious transactions. We're now actively tracing the flow of funds across chains.
Tracing after an exploit is becoming more complex than ever, and attackers keep getting more sophisticated. Tools have to keep up, and more importantly, prevention has to grow faster than the threat. No single team can solve this alone. We need every team, and many more builders, working on it.
Incidents like this are a reminder that risk and security can't be an afterthought. Real-time monitoring and fast attribution are critical infrastructure for everyone in digital assets.
If your team needs address data or exposure checks, reach out.
Our investigators are observing never-seen-before laundering patterns with the stolen funds from the Binance exploit. Thousands of transactions in a short period suggest that the attackers are using automation to obscure the trail of funds. Rather than simply moving funds onward, they repeatedly circulate them among addresses, often sending funds back to addresses involved earlier in the sequence.
Read more: chainalysis.com/blog/binance…
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✅ Free risk checks on any onchain asset: wallets, fund flows, tokens, and transaction hashes, and more
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Explore what we've built → dd.xyz
For developers and those looking for integration capabilities, visit developers.webacy.com 🤗
Webacy retweeted
Noon Ecosystem Vault on @Morpho has been rated A by @mywebacy, with a risk score of 8 out of 100 (0 being the safest).
$3.91M USDC deposited, 8.66% APY.
Start here app.morpho.org/vaults?search…
Sharp breakdown of the RWA risk stack from @alenka_on_x. "Trust less, verify much more" is the right end state.
The off-chain leg is the hard part: enforceability, bespoke credit, keeping assessments current. That's why Webacy is extending its live risk signals beyond on-chain data into off-chain exposures. Worth a read 👇
The RWAs risk stack is getting crowded – and confusing.
I mapped 7 players – @AccountableData, @particula_io, @CredoraNetwork, @mywebacy, @ApexGlobalGroup, @SPGlobalRatings and @moodysratings – across verification, transparency, technical risk and ratings.
My take on where this market is heading, who integrates, who gets acquired – and who doesn’t survive.👇