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Monday, February 10, 2025 

Ionic Money, fresh from rebranding their twice-hacked predecessor Midas, fell victim to the oldest trick in the DeFi playbook - fake collateral.

The attackers, masquerading as Lombard Finance team members, convinced Ionic to list their counterfeit LBTC token.

Within hours, the exploiters minted themselves a mountain of fake tokens, borrowed everything not nailed down, and vanished through the Tornado Cash mixer - leaving behind a trail of empty vaults and red faces.

The Mode team rushed to Twitter with their best "everything is fine" impression while Ionic stammered about "sophisticated social engineering."

In this game of digital masquerade, who's really wearing the mask - the attackers impersonating Lombard, or Ionic pretending they know what they're doing?

Read more »                      

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That new token you’re holding? It’s about to get unlocked into oblivion. While you’re busy checking charts and hyping up the project, millions of pre-allocated tokens are quietly waiting to hit the market — and when they do, you’re the exit liquidity. 

Token unlocks are the slow rug you don’t see coming. Projects sell you on the idea of a fair launch, a community-driven ecosystem, and diamond-hand-worthy long-term potential. But behind the scenes? The real game is vesting schedules, pre-mined allocations, and insider dumps disguised as “ecosystem incentives.” You think you’re in early, but someone got in way earlier — and they’re about to cash out at your expense. 

Here’s how it plays out. Early investors, team members, and advisors have their bags locked up under vesting schedules. Sounds good, right? Keeps them committed, aligns incentives? Not quite. Because once that lockup ends, those tokens flood the market, crushing prices while you’re still holding. It’s not a dump—it’s a planned liquidation. They got in at fractions of a cent, and now they’re selling at a premium while your “long-term play” turns into a race to the bottom. 

Think the project is solid? Doesn’t matter. If too many vested tokens unlock at once, it overwhelms demand, crashes liquidity, and tanks your bags before you even see it coming. No one wants to buy a token when the sell pressure is relentless. If the unlock schedule is too aggressive, the price never recovers. 

Want to avoid getting wrecked by unlocks? Do your homework. Check the vesting schedule before you buy. Look at how many tokens are set to release and when. If a massive unlock is incoming, don’t be the one buying into the dump. Some tools like Token Unlocks by Tokenomist or project whitepapers can show you exactly when the pain is coming. 

DeFi isn’t just about picking the right projects—it’s about knowing when you’re someone else’s exit strategy. If you don’t check the vesting schedule, you’re not an investor—you’re exit liquidity.                 Memes and Videos Inside Teenagers Hacking Rappers for Unreleased MusicNoah “King Bob” thought he was untouchable, flipping stolen tracks for cash until the FBI hit pause on his operation. From Minecraft hacks to music leaks, he ran the game — until the game ran him. Now, his next drop isn’t a track, it’s a prison sentence, proving that every grift has an end.                                               Source: Crumb                              Source: lynk0x

We provide an anonymous platform for whistleblowers and DeFi detectives to present their information to the community. All authors remain anonymous. We are all rekt.