The spectrum of decentralization has been a hot topic following a counter-exploit recently executed by Jump Crypto on the Wormhole hacker who stole 120,000 ETH — around $325 million — in February last year. After receiving an order from the High Court of England, Oasis — a privately owned app deployed on top of the decentralized finance (DeFi) protocol MakerDAO — carried out a counterattack by adding an “authorized third party” to its multi-sig. The third-party — believed to be Jump — then used it to upgrade Oasis’ proxy contract, ultimately seizing the funds. Many industry participants raised concerns about this move as an indication of the centralization of DeFi, and whether these upgradable contracts should be used at all. (Blockworks)
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