insights — a newsletter crafted to bring you the most significant developments from the past week.
In other news, a crypto trading bot programmed to execute arbitrage trades borrowed $200 million to make just over $3 in profit. DeFi lending platform Sturdy Finance was drained for $800,000. The protocol’s team offered a $100,000 bounty for returning the funds and reopened its stablecoin market on June 16. In another exploit, the Hashflow protocol was drained for $600,000; however, Hashflow assured users they would be “made whole.”