Security Alert: 0xngmi Warns of Lido Oracle Multisig Breach After 1.4 ETH Theft

On May 11, COINOTAG reported alarming news from 0xngmi, the founder of Defillama, regarding a significant security breach in the Lido oracle’s multisig wallet. Hackers exploited vulnerabilities to steal 1.4 ETH, raising concerns about the **security protocols** surrounding decentralized finance (DeFi) platforms. Following the incident, 0xngmi advised that incorporating **easily traceable cryptocurrencies** into multisig wallets could serve as an effective canary mechanism. This strategy could provide **early warning signals** regarding potential compromises, enhancing the security infrastructure of digital assets. The need for robust security measures in the DeFi space has never been more urgent, as participants seek to balance risk management with capital efficiency. Industry experts urge all wallet holders to reassess their security strategies and implement advanced protective measures to safeguard their investments.