DeFi enthusiasts on the lookout for the next hidden gem have been left burnt after investors of Eminence Finance (EMN token) have lost funds as a result of the protocol’s unaudited contracts.
- The EMN protocol was subject to a flash loan exploit which resulted in the loss of $15 million
- Eminence Finance is a “gaming multiverse” product that is being developed by yearn.finance co-founder Andre Cronje
- The contract was deployed from the main yearn deployer address; Cronje has said that he will not use public addresses in the future
- The community worked with Cronje to see $8 million returned; Cronje himself asked the yearn treasury to help with a refund
- Cronje said that the contracts were something for only himself to engage with and urged others not to use them
- Andre also said that the product was still being developed and that he would inform the public of an official release; the release is at least 3 weeks away