DefiLlama Launches Forked Version of llamadotfi after Malicious Control

03/19/2023 12:38 • Metaverse Matters • 166 views

On March 19th, 0xngmi, the developer of the online data analysis website DefiLlama, tweeted that the DefiLlama team had launched a forked version of the new website llamadotfi due to malicious control of the Defilama website. 0xngmi explained that the person controlling the Defillama Twitter account and domain name decided to issue a token, which was opposed by everyone on the team.

DefiLlama Developer: Defilama website has encountered malicious control and has launched a new website, llamadotfi

Analysis based on this information:

0xngmi, the developer of DefiLlama, tweeted on March 19th that the team had launched a forked version of llamadotfi because of malicious control over the DefiLlama website. The person controlling the DefiLlama Twitter account and domain name had made the decision to issue a token, which went against the wishes of the entire team.

This message highlights a serious issue in the world of decentralized finance (DeFi), which is the potential for malicious actors to take control of websites and use them for their own purposes. DefiLlama is a popular online data analysis website that tracks the total value locked (TVL) in various DeFi protocols, and the fact that it fell victim to such control is a cause for concern.

The decision by the DefiLlama team to launch a forked version of llamadotfi shows their commitment to addressing the situation quickly and effectively. Forking involves creating a new version of an existing blockchain, with the goal of creating a separate protocol with its own rules and governance. In this case, the forked version of llamadotfi will be controlled by the DefiLlama team, therefore ensuring that it is not subject to any malicious control.

It’s important to note that the decision to issue a token without the consent of the team was considered a serious breach of trust. It’s unclear what the intentions behind the token issuance were, but it’s clear that the DefiLlama team did not agree with it. As such, it’s reassuring to see that the team took decisive action and forked llamadotfi, thereby removing any ability for the malicious actor to have control.

This message also highlights the need for increased security measures in the DeFi space. As more individuals and institutions start to get involved in DeFi, there will inevitably be more attempts at malicious control. It’s important for the industry to develop better security practices to prevent these attempts from being successful.

In conclusion, the message from 0xngmi highlights the importance of security and trust in the DeFi industry. The forked version of llamadotfi shows the DefiLlama team’s commitment to addressing the situation quickly and effectively, while also protecting their users. The incident serves as a reminder that security is an ongoing concern in the DeFi space, and that continued efforts are needed to prevent malicious control of websites and protocols.

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