The creator of the popular DeFi protocol yearn.finance André Cronje on Monday evening posted on Twitter the announcement of his new project eminence.finance and, in his own words, went to bed. He was soon awakened by a burglary message. Eminence is conceived as an economic game, with at least three weeks left before its full release. However, some users discovered the project contract and contributed large amounts to it.
According to Cronje, the exploit turned out to be very simple and consisted of issuing and burning EMN tokens. He also said that after the incident he began to receive threats.
In this regard, he intends to distribute among users $8 million that the hacker sent him, based on a snapshot of the blockchain before the attack. However, Cronier will not give up on Eminence and will continue to develop the project on the Ethereum mainnet. Eminence (EMN) trading volume on Uniswap amounted to almost $12 million per day.
After the developer’s clarifications, the EMN rate fell from $0.01 to $0. According to Cronje, GLI and EMN tokens are intended solely for testing and will not be used in the finished project.