Flare Network co-founder Hugo Philion has issued a warning to XRP holders about the dangers of depositing tokens into non-transparent platforms offering yield or staking rewards. Philion highlighted the risks associated with 'black box' vaults, which do not clearly disclose how they manage user funds. This warning comes in the wake of a $93 million loss at Stream Finance, which has halted withdrawals.
Philion underscored Flare's commitment to transparency in DeFi solutions for XRP, mentioning the FXRP initiative that has already attracted over $150 million in XRP. As security concerns grow, some investors are steering clear of high-yield offers.
Flare Co-Founder Cautions XRP Holders on DeFi 'Black Box' Vaults
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