▲Losses Move to Components That Worked as Designed

Score history

Daily conviction score, 0 to 100. Higher means the thesis is more strongly corroborated.

Now 100

Showing the last few days. Unlock full score history.

Why the conviction moved

• Aug 28
  Strengthened +5

  Term Labs lost about $8.5 million to an attacker who simply bought voting power and used governance as designed to move the funds, per the week's on-chain loss roundup. Governance is named in the thesis as a privileged off-contract input, and a purchased-quorum drain shows the acquisition cost of control, not code quality, is the binding safety parameter.

• Aug 28
  Strengthened +6

  Security researchers published a reproducible proof of concept showing Moonwell's roughly $8.7 million loss on Base came from a price oracle correctly reporting a thin market for its own collateral token, not from a defect in the lending contracts. A loss with no contract bug to patch is the cleanest form of the thesis: the audited on-chain code passed, and the failure sat in a trusted external input whose correctness assumptions were never in audit scope.

• Aug 27
  Strengthened +6

  Term Labs lost $8.5 million to an attacker who simply bought enough voting power to pass a malicious governance action, and Coinsbuy lost $7.9 million to what investigators call key or admin compromise. Both losses ran through privileged paths functioning as specified — a valid vote and valid admin keys — so no contract audit would have flagged them.

Showing the last 2 days. Unlock the full record.

Source trail

• Supporting · August 27, 2026

  Security Roundup: Governance Takeover, Hot-Wallet Drain and 40 Malicious Firefox Extensions

  Term Labs lost $8.5 million to an attacker who simply bought enough voting power to pass a malicious governance action, and Coinsbuy lost $7.9 million to what investigators call key or admin compromise. Both losses ran through privileged paths functioning as specified — a valid vote and valid admin keys — so no contract audit would have flagged them.

  Rekt News

• Supporting · August 26, 2026

  Moonwell's cbETH market still shows negative liquidity six months after an oracle misconfiguration

  Moonwell's cbETH market still shows utilization above 100% six months after an oracle misconfiguration, stranding suppliers who were never liquidated, and the latest recovery plan allocates nothing to the roughly $1.8 million gap. The loss came from a correctly functioning price input configured wrongly rather than from contract code, and the six-month unhealed gap shows how poorly protocols are provisioned to remediate this failure surface.

  CryptoSlate