OpenCover Pays Out $250K to ArcadiaFi Hack Victims
OpenCover Pays Out $250K to ArcadiaFi Hack Victims
💰 DeFi Insurance Actually Works
OpenCover successfully paid out ~$250K to victims of the ArcadiaFi exploit, working alongside Nexus Mutual to compensate affected users.
Key developments:
- Cover holders received full payouts following the hack
- ~$5M in new cover purchased by Arcadia users post-incident
- Demonstrates that DeFi insurance actually works when needed
The payout proves that onchain insurance coverage delivers real protection when smart contract exploits occur. Users who had purchased cover through OpenCover were fully compensated for their losses.
Following the incident, Arcadia users have shown increased confidence in protection services, with $5 million in new coverage purchased to safeguard future onchain activities.
OpenCover Alpha February 2026 Update
OpenCover has released its February 2026 alpha update, detailing recent developments in their onchain risk protection platform. The newsletter covers: - Latest platform improvements and features - Updates on their coverage offerings for smart contract risks - Community initiatives and engagement activities - Progress on their underwriter network OpenCover continues to focus on making portfolio protection accessible and affordable for users navigating onchain risks like smart contract exploits and oracle failures. [Read the full update](<https://open.substack.com/pub/opencover/p/opencover-alpha-february-2026?r=2chtfi&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true>)
OpenCover Launches Onchain Risk Map 2026 and CAP Protection
OpenCover released its February 2026 update, highlighting several key developments: - **Onchain Risk Map 2026**: The first comprehensive taxonomy of DeFi risk, developed with Nexus Mutual for risk professionals, protocols, and institutional users. Full report and webinar scheduled for February 11. - **CAP in-dApp Protection**: New protection feature now available within the application. - **DAF London**: Participation in decentralized finance events in London. The risk map aims to standardize how blockchain risk is understood and managed across the DeFi ecosystem, providing a structured framework for evaluating onchain vulnerabilities. [Read the full update](https://open.substack.com/pub/opencover/p/opencover-alpha-february-2026)
YO Protocol Launches Governance Token and Expands to Arbitrum
**Key Updates from Covered Yield Protocols:** - **YO Protocol** introduced its governance token $YO and expanded support to Arbitrum yield sources, starting with Revert's Lend USDC integration into yoUSD - **Cap** launched the Cap Homestead Program **Recent OpenCover Developments:** - Protocol Cover now available for [Hybra Finance](https://opencover.com/hybra) on Hyperliquid, covering protocol hacks, oracle manipulation, liquidation failures, and governance attacks at 0.46% monthly - Depeg Cover launched for Neutrl USD and Spark - Integration with Cap enables users to purchase cover directly within the Cap dApp for their positions, including Pendle YT/PT tokens
OpenCover Launches Protection for Hybra Finance Positions at 0.46% Monthly
OpenCover now offers coverage for Hybra Finance positions at a monthly rate of 0.46%. Users can protect their assets while earning yields on stablecoins within the Hyperliquid ecosystem. **Key Features:** - Monthly coverage cost: 0.46% - Earn approximately 9% on USDC/USDT0 - Protection available for Hyperliquid-ecosystem assets The service allows users to safeguard their DeFi positions while maintaining earning potential on their holdings. [Learn more about Hybra coverage](https://opencover.com/hybra)
Hybra Finance Protocol Cover Now Protects Against Hacks, Oracle Manipulation, and Governance Attacks
OpenCover has launched Protocol Cover for Hybra Finance, the public liquidity layer on Hyperliquid. **Coverage includes protection against:** - Protocol hacks - Oracle manipulation - Liquidation failures - Governance attacks Hybra Finance has processed over $3 billion in volume as a liquidity infrastructure on Hyperliquid. The Protocol Cover acts as insurance for users' positions against these specific onchain risks. This coverage is underwritten through Nexus Mutual, which has covered $6B+ in onchain risk to date.