Kraken’s CEO Jesse Powell condemned the stance of “DeFi scams” that rely on the support of centralised exchanges.
“Stop messing up your DeFi scams and hoping that exchanges will save you. I will not accept your attempts to shift responsibility onto others for your hasty and reckless rollout. Invest in audits, insurance and, please, think with your own head. Awareness of losses is the only path to enlightenment,” — Powell did not mince his words.
Stop fucking up your bullshit DeFi scams and expecting exchanges to bail you out. I will not accept your attempt at externalizing the cost of your hasty, reckless rollout. Invest in audits, insurance and please DYOR. Taking your losses is the only way to enlightenment.
— Jesse Powell (@jespow) October 26, 2020
Comments followed after a successful attack on the Harvest Finance protocol, resulting in an unknown hacker withdrew $24 million in stablecoins.
“They are hacked again and again for the same targets. Careless mistakes, obvious oversights, a lack of understanding of the basics,” the head of Kraken added.
Sure but the pace these things are coming, they can’t possibly be taken seriously. It’s not like they are getting hacked because of some 0day after 20 audits. They’re hacked for the same stuff over and over. Careless mistakes, obvious oversights, failures to understand the basics
— Jesse Powell (@jespow) October 26, 2020
Powell’s irritation may have been triggered by the founder’s request to blacklist the hacker’s funds, addressed to, among others, the Kraken leadership.
Please blacklist these addresses, thank you@binance @coinbase @HuobiGlobal @OKEx @krakenfx @FTX_Official @bitfinex @BittrexExchange
— Harvest Finance (@harvest_finance) October 26, 2020
Asked why Kraken lists DeFi tokens, Powell did not respond.
Why are you listing «DeFi» tokens in the first place?
— Mixmaster Hash (@hashamadeus) October 26, 2020
Recall that in late September took place a hack of Eminence, an unfinished DeFi project from Andre Cronje, founder of yEarn.Finance. By then users had attracted $15 million.
In August, the token price of the experimental DeFi protocol Yam fell by 99% in 24 hours after a vulnerability was discovered in the protocol’s governance system.
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