DeFi darling Yearn.finance deployed a new token-then $15m was stolen

Finance, deployed a series of new contracts pertaining to a project called Eminence.

Finance Deployer address on Ethereum, meaning Andre, had deployed a series of contracts on the blockchain.

The contracts pertained to new tokens, including Eminence, GIL, and a series of "eTokens" that represented different coins like YFI, AAVE, SNX, and CRV DAO Token.

While nobody knew what the tokens were for, many were quick to FOMO into the contracts as many thought this was the launch of something big for the Yearn.

Around 4-5 hours after the contracts were deployed, an inflection point was reached where top accounts on Twitter were tweeting about EMN.People are sending millions of dollars to a smart contract for a token of a project we have no other information of besides a logo.

In the span of an hour or two, the value locked in the EMN contract went from $3 million to $12 million as FOMO spread across the community.

"People are sending millions of dollars to a smart contract for a token of a project we have no other information of besides a logo. There's not even a live website so you need to buy by calling the contract."

As per my usual methodology, I deployed our staging contracts on ETH so we can continue developing on it.

Basically, he deployed the contracts to stage the new Ethereum-based game Eminence, which he claims is still over three weeks away.

The contracts were not finalized, but he deployed them anyway because he "Tests in production."