Welcome to the dark web of DeFi.
Authentic investigative journalism and unfiltered creative commentary
Galaxy brain or pure evil?
A trader just weaponized Hyperliquid's own liquidation mechanics against itself, forcing the protocol to choose between a $12M bleeding wound or revealing its centralized kill switch.
A small set of validators reached "quorum" in two minutes, overriding market prices and forcibly delisting $JELLY after it pumped 429% in a single hour.
Binance and OKX swooped in with perfectly-timed perpetual contracts, while BitGet's CEO declared Hyperliquid "on track to become FTX 2.0."
Meanwhile, ZachXBT questioned why Hyperliquid draws the line at market manipulators but not North Korean hackers using stolen funds.
When exchanges wage war through token listings and validators vote faster than you can say "decentralization," who's fighting crime with crime and who's just covering for catastrophic risk management?
Read more »
Stories and Articles
• What are native rollups? Full guide to Ethereum’s latest innovation [Read more]
• US Consumers Lose $2,088,000,000 to Fraudulent Bank Transfers and Payments according to FTC [Read more]
• Crypto VCs, undaunted by DeFi funk, are still investing in three promising trends [Read more]
• N. Korea ramps up cyber offensive: New research center to focus on AI-powered hacking [Read more]
• Critical flaw in Next.js lets hackers bypass authorization [Read more]
Research of the Week
Beta Forever: How Projects Use ‘We’re Early’ as an Excuse to Never Ship
You’ve seen the pitch decks. The slick animations, the promise of changing the world, the hype-fueled Twitter threads. They raise $40 million in seed, run three hackathons, host AMAs, drop some alpha, and when you ask where the product is? “We’re still early.”
It’s the go-to excuse in Web3: no roadmap, no product, no deadlines—just vibes. These teams mastered the art of delay. MVP becomes Testnet. Testnet becomes “closed alpha.” Closed alpha becomes a Google Form asking for feedback on a wallet that doesn’t even open. They ship screenshots, not software.
The truth? They’re not building. They’re farming attention, extending hype cycles, and stretching the runway until the liquidity dries up. That “early” energy? It’s cover for the fact that nothing is ready—and maybe never will be. Meanwhile, the insiders vest, the community copes, and the Discord mods keep saying “soon.”
Some of these projects have been “almost ready” for two years. They’ll say they’re focused on security or user experience while posting screenshots of internal dashboards no one asked for. But check the chain: no volume, no users, no utility—just a token that pumps when they announce another delay disguised as a milestone.So next time someone says “we’re early,” ask them: early for what? Because if the only thing launching is merch and the team’s vacation photos, you’re not early—you’re just being strung along.
Welcome to Beta Forever—where the product is always coming, the hype never stops, and the exit is already in motion.
Memes and Videos How Two Brothers Stole 69,000 Bitcoin and Vanished
A slick pitch, a fake hack, and two brothers who turned crypto dreams into a $4 billion disappearing act. AFR Crypt promised AI-powered riches and daily profits, but behind the curtain was just another Ponzi dressed in Web3 drip. When it all collapsed, the Kaji brothers ghosted the entire industry—proof that in crypto, the biggest rug is the one you never see coming.
Source: SCAMS
Source: pumpdotfun
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We are all rekt.