DeFi is something proud technology on blockchain and it benefits Lender , Borrower ,and stak holders without government or centralised involvement but what will happen when some thing will come anonymously and wiped out all your investment on Defi platform.
Iron.Finance operates on binance smart chain which worked fine since start of the project but suddenly its stablecoin (Iron) started getting dropped in value and could not maintain pegged with dollars.
As per Iron.finance Admin, It has crash due to bank run means certain liquidity scooped but it has been repeated many times . User of this DefI Also still supported this project after many hacks that was sad to say . The price of Titan token dropped from $64.00 to Zero.
Here are some screenshot of its past hacks and problems.
The Dev team might be exploited this as they have done before too and just paid the compensation at first time hack to gain the trust of investors.
As per above picture, The project got audited by Omniscia and it was successfully conducted but even-after this kind of hack is going on some DefI platform .Binance smart chain listed project also needs to be go through more Audit by Binance as this kind of Scam really spoil the trust on blockchain .