Security research, incident writeups, and short essays on DeFi protocol security.https://www.kyp.one/enhttps://www.kyp.one/notes/zerolend-liquidity-index-manipulation/https://www.kyp.one/notes/zerolend-liquidity-index-manipulation/A 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.Fri, 08 May 2026 00:00:00 GMTlendingflashloanpost-mortemhttps://www.kyp.one/notes/welcome-to-kyp-notes/https://www.kyp.one/notes/welcome-to-kyp-notes/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.Fri, 08 May 2026 00:00:00 GMTmetaguidehttps://www.kyp.one/notes/processor-role-design-in-credit-vaults/https://www.kyp.one/notes/processor-role-design-in-credit-vaults/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.Sat, 02 May 2026 00:00:00 GMTstablecoinoperator-riskvault-design