$1 447 000 USD
DESCRIPTION OF EVENTS
"Only the best yields with Helios Cash" "Polygon's best DEX aggregator"
"Helioswap is a DEX aggregator that gets you the best prices from your DEX trades. Helioswap splits your trade across multiple DEXes to ensure the best prices and lowest slippage possible. Your trades with Helioswap also become non-front-runnable and non-arbitrageable."
"Helios Cash [was] a yield farming aggregator running on Polygon Chain (MATIC). The DApp (Decentralised Application) was designed with the purpose of optimising DeFi (Decentralised Finance) users yields as they interact with the other DApps in the DeFi space."
"Helios Cash was initiated on Polygon with no pre-farm, no pre-sales and with the goal of optimising DeFi users' yield farming at the lowest possible cost (All APY & APRs shown have already included fees)."
"Helios Vaults [was] a yield optimizer platform focused on providing DeFi users with helios-compounded yields at empirical optimal intervals, whilst pooling gas costs through battle-tested smart contract code and best-in-class yield optimizing strategies. Helios Cash uses a proprietary dynamic harvesting optimizer to enable the highest APYs on our vaults."
"[J]ust listed on #CoinGecko! Make sure to click "Like" for Helios Cash!"
"The highest price ever paid for Helios Cash (HEO) was 0.874 USD, set on June 30th, 2021."
The "project ha[d] an upgradeable proxy which points to an unverified implementation contract which has a migrator and can remove all funds at any time."
"The polygon chain DeFi project helios runs off." "They rugged using the migrator code. Website and TG are down."
The Helios Cash project was started by an anonymous team (possibly even an individual). The project used various techniques to gain trust and credibility before using an exploit that they'd built into the platform to make off with everyone's funds.
HOW COULD THIS HAVE BEEN PREVENTED?
With a proper framework, there would not be a need for anonymity of the team. In this case, all critical parts could be in the control of a proper multi-signature setup.
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