Eminence, an unreleased project being built by Yearn’s Andre Cronje has been drained of $15 million.
The decentralized finance (DeFi) community’s insatiable appetite for unaudited code has once again ended in tears and the loss of millions.
Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance’s Andre ‘I test in production’ Cronje, was discovered by DeFi sleuths after the developer posted art teasers for the project to Twitter. He then headed to bed on September 28.
Excitement for the upcoming project quickly reached a fever pitch, with the community FOMOing roughly $15 million into the EMN protocol. However, the protocol was quickly exploited and drained … before the hacker bizarrely opted to transfer $8 million of the funds back to Cronje’s yearn deployer account by the time the developer had woken up.