DeFi protocol SIR.trading loses entire $355K TVL in ‘worst news’ possible

Ethereum-based DeFi protocol SIR. trading, also known as Synthetics Implemented Right, has been hacked, resulting in the loss of its entire total value locked (TVL) — $355,000 at the time of the attack.  The hack, which occurred March 30, was initially detected by blockchain security firms TenArmorAlert and Decurity, both of which posted warnings on X to alert users of the protocol. The protocol’s founder, known only as Xatarrer, described the hack as “the worst news a protocol could received [sic],” but suggested they intend to try to keep the protocol going despite the setback source: https://cointelegraph.com/news/defi-protocol-sir-trading-loses-entire-355-k-tvl-exploit?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound