Notes
Security research, writeups, and short essays. Some posts are tied to a specific protocol on this site; others are cross-cutting.
- Incident single-market · ≈4 LBTC (~4 BTC)
Inflating liquidityIndex with flashloan premiums: a ZeroLend post-mortem
updated · orig 2025-12-26A low-liquidity ZeroLend market backed by a post-maturity Pendle PT (PT Lombard LBTC 29MAY2025) was drained of ~4 LBTC. The attacker pumped liquidityIndex via flashloan premiums, accumulated ~10.9955 PT-LBTC via rounding-window arbitrage, then borrowed real LBTC against the drained collateral. A walkthrough of the on-chain facts and the accounting bugs that made it work.
lendingflashloanpost-mortem · today -
How to read a KYP dashboard
A short walkthrough of the dashboard's gate outcome, trust surfaces, and audit-tier badges — what to scan for in 30 seconds, and where to dig deeper.
metaguide · today -
PROCESSOR_ROLE design in credit-vault stablecoins
Trusted off-chain operators are the rule, not the exception, in credit-vault stablecoins. The interesting question is what bounds the role on-chain. A short comparison using Saturn Credit as a starting point.
stablecoinoperator-riskvault-design ↳ saturn-credit · 6d ago