In a bold move, Yearn Finance ($YFI) has thrown down the gauntlet to hackers. “We want you to hack us,” they’ve declared, opening up almost all permissioned functions on their vault. 🎯
🚨We want you to hack us.🚨
Yep, really…
Yearn v3 has gone through multiple audits and internal reviews, but it's time for the real battle test – Crypto Twitter.
If you can take the funds from the v3 Vault and strategy below, they're yours.
[See next tweet for contracts] pic.twitter.com/kqb5tXiXub
— yearn (@yearnfi) July 25, 2023
The invitation is bold because the DeFi protocol lost $11 million in April because of a misconfigured stablecoin called yUSDT.
Yearn Finance isn’t just sitting back and licking its wounds, though. They used this setback as an opportunity to strengthen their security through audits and internal reviews. Now, they’re ready for the ultimate test, inviting anyone who can take from their vault to keep it as a reward.
It’s a daring move but one that could pay off in the long run. Meanwhile, Yearn’s Total Value Locked (TVL) stands at a modest $431 million, a far cry from its peak value of nearly $7 billion in late 2021. But with this new strategy, Yearn Finance is clearly ready to fight its way back to the top. 🥊