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DefiLlama Founder Challenges Hackers on Smart Contract; Offers 10 ETH Reward

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DefiLlama Founder Challenges Hackers on Smart Contract; Offers 10 ETH Reward

Popular Twitter user and founder of DefiLlama, Oxngmi, is offering 10ETH to anyone who successfully hacks his new smart contract.

Oxngmi Offers 10ETH to Hackers

A Twitter user with the username Oxngmi(grazing arc), who also happens to be the founder of Llamalend and DefiLlama, one of the largest DeFi TVL aggregators, has challenged crypto hackers, offering 10ETH to whoever successfully hacks his new smart contract. Oxngmi announced the challenge on his Twitter page yesterday, October 26.

In a tweet accompanied by the link to an Etherscan transaction, Oxngmi declared that he had deposited 10 ETH into an account and would give the entire amount to anyone who hacks the smart contract. Oxngmi tweeted:

“Deposited 10 ETH on https://etherscan.io/address/0x34d0a4b1265619f3caa97608b621a17531c5626f. If you can hack the contract through any means, you can keep all the money.”

According to the Etherscan transaction, at the time of the tweet, the 10ETH reward is worth about $15,362.39 based on the current rate of $1,542.85 per ETH. 

Twitter Reactions

Although, as of press time, no one has been able to redeem Oxngmi’s $15,000 price, there have been several interesting reactions to the challenge from the crypto community on Twitter.

While several users have begged for the money and bantered about it, others have accused Oxngmi of seeking cheap audits. 

“Kinda suspect there might not be a bug, and we are just going free audit work LOL.”

Nonetheless, Oxngmi’s 10ETH remains up for grabs as hackers have yet to breach the smart contract successfully.

Oxngmi’s Hack-Proof Smart Contract

This year, nearly $2 billion worth of crypto assets have been lost to hackers. Crypto attacks have been recorded in different forms, ranging from software exploits and gas fee manipulation to breaches of smart contracts.

Starting with the breach of two-factor authentication on the crypto exchange Crypto.com on January 17, crypto hacks have come quickly. Also in January, Qubit QBridge lost about $80 million to hackers in a smart contract manipulation. Shortly after, Wormhole’s smart contracts were also exploited by cyber attackers carting away about $325 million on February 2.

There have been less than 20 hacks on crypto platforms and projects. However, Oxngmi seems to have found a hack-proof system to secure smart contracts.

Who Is Oxngmi?

Oxngmi is an anonymous tech entrepreneur and creator of on-chains data analytics, DeFiLlama, and the NFT lending platform Llamalend. Very little personal information about the crypto solutions provider is known, yet his platforms continue to make waves in the crypto industry.

Oxngmi’s DeFi Llama remains one of the largest TVL aggregators to track popular chains and their dApps. Defi Llama uses TVL to show which protocols are the largest and how they develop over time. It focuses on fully open-sourced, accurate data. This data is maintained by a dedicated team from their respective DeFi protocol communities and coordinated through Defi Llama’s GitHub repo. As such, the dashboard is a reliable representation of the DeFi landscape.

Oxngmi’s second project is the innovative nonfungible token (NFT) borrowing and lending protocol designed to solve the problem of NFT holders needing to obtain liquidity when holding their digital collectibles and primarily targeting small NFT collections. LlamaLend allows users to deposit their NFTs, get a signed price attestation from a server, and borrow Ether (ETH) up to one-third of the NFT’s floor value. Users can repay the loan anytime and will only be charged interest for the time used. The loan bears fixed interest based on a pool utilization rate.

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