TribeDAO and Rari Capital Fuse Market Hack Recap
TribeDAO and Rari Capital Fuse Market Hack Recap
đź’° $80M gone in seconds
In April 2022, a significant hack targeted TribeDAO and Rari Capital's Fuse Market:
- Hackers exploited a money market vulnerability
- Damage totaled $80M across various Rari Capital pools
- Nexus Mutual stepped in to support affected users:
- Paid out over $5M in claims to cover holders
- Demonstrated the importance of crypto insurance alternatives
This incident highlights the ongoing security challenges in DeFi and the crucial role of protection mechanisms like Nexus Mutual in mitigating risks for users.
Hack Recap: TribeDAO, Rari Capital Fuse Market Hack In April 2022, hackers exploited a money market vulnerability to cause $80M in damage across various @RariCapital pools Nexus Mutual paid out over $5M in claims to cover holders 🛡️ You’re covered, with Nexus Mutual
DeFi Pulse Hosts Open Forum on Crypto Law and Legal Risks
DeFi Pulse is organizing an Open Forum focused on critical legal challenges in the crypto space. The session will address: - Legal gray areas in DeFi protocols - Enforceability of smart contract code - Key court cases affecting the industry - Specific risks for yield aggregator platforms The forum brings together crypto lawyers, builders, and community members to discuss these pressing issues. Participants will explore practical implications for protocol development and compliance. [Join the discussion live](https://www.youtube.com/watch?v=BySsF3LwiQI)
Nexus Mutual Announces Four Key Grant Opportunities
Nexus Mutual has launched a comprehensive grant program focusing on four strategic areas: - **Yield Generation**: Funding strategies that combine staking and earning capabilities - **Stablecoin Protection**: Supporting coverage models against stablecoin depegs - **Real-World Mutuals**: Expanding beyond crypto into traditional mutual insurance models - **Wallet Integration**: Developing seamless protection features within user wallets The program aims to enhance technical infrastructure, user experience, protocol integrations, and risk tooling. [Apply for grants here](https://nexusmutualdao.io/grants-program)
Nexus Mutual Partners with SatLayer for Bitcoin-Backed Insurance Coverage
Nexus Mutual announces strategic partnership with SatLayer to provide enhanced insurance coverage using restaked Bitcoin as collateral. The collaboration aims to: - Unlock $50-100M+ in coverage capacity - Offer bespoke cover solutions for Bitcoin holders - Integrate with major DeFi protocols including Base, Aave, and Morpho The platform now supports Coinbase's cbBTC, expanding protection options for Bitcoin deposits across popular DeFi protocols. This marks a significant step in bringing traditional insurance concepts to Bitcoin-native users.
OpenCover Enhances Base Pass DeFi Protection
OpenCover has updated their Base DeFi Pass, enhancing security for DeFi activities on Base network. Key features include: - Protection against hacks, smart contract bugs, and protocol failures - Coverage for 9 major protocols including Aerodrome, Beefy, Uniswap - Partnership with Nexus Mutual for comprehensive coverage Base creator Jesse Pollak endorsed the pass in CoinDesk, highlighting its role in building user confidence. The platform offers a free 30-day trial covering up to $10,000 in protection per user. Learn more: [Base DeFi Pass](https://opencover.com/basepass/)
Nexus Mutual DAO Offers $600,000 in Grants
The Nexus Mutual DAO has announced nearly $600,000 in available grants. This significant funding opportunity is open for applications, with details on the Request for Proposals (RFPs) and application process available on their website. Key points: - Almost $600,000 in grants available - Open RFPs for various projects - Application process detailed on NexusMutualDAO website **How to apply:** 1. Visit https://nexusmutualdao.io/grants-program 2. Review open RFPs 3. Submit your application *Interested in contributing? Check out the program and see if your ideas align with their current priorities!*