a major crypto bridge run and/or partially owned by some of the core #bitcoin dev team that helps people move their crypto assets between chains just blew up. hundreds of millions of dollars in liabilities it can't meet.
just another day in crypto...
(actually this is kind of a bad day, even for crypto)
https://x.com/1984_is_today/status/1882616341926162653
[update] the chain swapping still works, but they had bolted on some kind of crypto bank lending protocol and that is what is toast, along with all their users' money. they are "guaranteeing" that users will get their money back "eventually" (bros always do this)