The Steadefi Collapse: Broken Promises and a Vanishing Founder
Steadefi was hacked on August 8, 2023, due to the compromise of the deployer’s wallet private key. Jeff Lam (LinkedIn)claimed that he was targeted by a malware injection through a social engineering attack. Strangely, as the protocol’s deployer, he did not implement even the most basic security measures, such as using a multi-signature wallet or a hardware wallet. He also stated that his personal wallet was compromised and shared his wallet addresses: Personal Address 1: 0xA67630BE5d03Fb7473e...
The Steadefi Collapse: Broken Promises and a Vanishing Founder
Steadefi was hacked on August 8, 2023, due to the compromise of the deployer’s wallet private key. Jeff Lam (LinkedIn)claimed that he was targeted by a malware injection through a social engineering attack. Strangely, as the protocol’s deployer, he did not implement even the most basic security measures, such as using a multi-signature wallet or a hardware wallet. He also stated that his personal wallet was compromised and shared his wallet addresses: Personal Address 1: 0xA67630BE5d03Fb7473e...
