Signal
Exploit postmortems, KIPs, and protocol research — from the team building Kimia.
Research. Apr 2026
April 1, 2026. 16:05 UTC. Two transactions, one second apart — admin control of Drift Protocol transferred to an attacker. By 18:31, $285M was gone: USDC, JLP, SOL. The biggest Solana DeFi exploit since Wormhole. And it wasn't a code bug.
ReadKIP-01. Apr 2026
Anatoly Yakovenko posted something quietly important — fourteen words in, "programmable limits and freeze authority," and he's already past the thing most DeFi builders refuse to say out loud: the future of on-chain stablecoins isn't about removing controls. It's about making them programmable.
ReadResearch. Apr 2026
March 2025 on Hyperliquid: a trader pumped a low-liquidity token 429% on external venues, then validators voted to reprice the market in two minutes. Withdrawals frozen, attacker walked. Everyone still called it “on-chain.” We unpack the spectrum the industry refuses to draw — and why the difference costs traders millions.
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