Phylax Systems (@phylaxsystems) / X

Phylax Systems

713 posts

Phylax Systems

@phylaxsystems

The Circuit Breaker company of New York

New York & Frankfurt

Joined August 2023

Pinned
Phylax Systems
@phylaxsystems
May 18
So far, we have stopped over: 1. 4,000 distinct drain attempts 2. $1.5M in cumulative drain volume 3. tens of distinct users who would have been victim The Credible Layer is the most advanced circuit breaker in crypto; compatible with any EVM chain.
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Phylax Systems reposted
ETHConf
@ethconf
Jun 8
Institutions want stronger DeFi security, but emergency controls often recreate the centralization they meant to avoid. @odysseas_eth of @phylaxsystems on autonomous, auditable controls that contain exploits while keeping decentralization.
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Phylax Systems reposted
Linea.eth
@LineaBuild
May 22
This is why we integrated @phylaxsystems into our stack. A misconfigured integration created standing approvals. Phylax's Credible Layer caught it: → $44,653 in confirmed user losses prevented → 4000 drain attempts dropped → $1,5M+ in cumulative drain volume
Phylax Systems
@phylaxsystems
May 18
So far, we have stopped over: 1. 4,000 distinct drain attempts 2. $1.5M in cumulative drain volume 3. tens of distinct users who would have been victim The Credible Layer is the most advanced circuit breaker in crypto; compatible with any EVM chain.
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Phylax Systems reposted
Odysseus | phylax.systems
@odysseas_eth
May 4
@phylaxsystems mentioned in @DefiantNews @DeanEigenmann approves this message
00:00
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Phylax Systems reposted
Odysseus | phylax.systems
@odysseas_eth
Apr 23
what we are shipping with @phylaxsystems will blow your mind. live now on @LineaBuild and soon in more chains and even more features! the whole team is working day & night to build the most powerful, useful, and easy to use platform.
Unchained
@Unchained_pod
Apr 22
🖥️ "Smart contracts can do circuit breakers." -- @kaiynne "It's possible to do it in a simple way, but then you have a lot of false positive. You can also do it in a way that understands the schematics of the system, but it's more expensive or not possible." -- @odysseas_eth
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Phylax Systems
@phylaxsystems
Apr 23
Circuit Breakers are going to become industry standard.
Bankless
@Bankless
Apr 23
LIVE NOW - The $280 Million DeFi Exploit That Changes Crypto Forever A $280 Million DeFi exploit exposed the hidden fragility of crypto’s most trusted systems. @delitzer and @odysseas_eth break down: - how the attack happened, - why bridge risk and protocol composability
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Phylax Systems
@phylaxsystems
Apr 22
KelpDAO, DPRK, and DeFi's Bad Debt Reckoning
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Phylax Systems reposted
The Rollup
@therollupco
Apr 21
Odysseus says DeFi needs circuit breakers like traditional markets have. "In traditional finance, a hack is a financial event. You have meetings, you fix the ledger." "In crypto, a hack is a physics event. It happened. You can't drop into a meeting and fix it." "Circuit
00:00
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Phylax Systems reposted
McKenna
@Crypto_McKenna
Apr 21
This is a very important point as it pertains to security. Distributed systems do not have the luxury afforded to T+1 settlement and hacks can be viewed as a physics event. This is why we should approach security as you would in aerospace designing in redundancy, fail passive
The Rollup
@therollupco
Apr 21
Odysseus says DeFi needs circuit breakers like traditional markets have. "In traditional finance, a hack is a financial event. You have meetings, you fix the ledger." "In crypto, a hack is a physics event. It happened. You can't drop into a meeting and fix it." "Circuit
00:00
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Phylax Systems reposted
The Rollup
@therollupco
Apr 21
Happy Tuesday from The Nest. The tension between decentralization and security has never been louder. Arbitrum freezes hacker funds. Crypto allegedly settling geopolitical toll payments. 1:15p EST @odysseas_eth - @phylaxsystems 1:45p EST @RuneKek - @SkyEcosystem 2:30p EST
The Rollup
@therollupco
Apr 21
🟢 LIVE From The Nest: Arbitrum freezes 30K ETH, Odysseas, Sky Founder & Coinbase CSO Join x.com/i/broadcasts/1…
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Phylax Systems reposted
McKenna
@Crypto_McKenna
Apr 20
DeFi needs circuit breakers. We trust smart contracts because they are open source and deterministic. What if a circuit breaker can be written in solidity that outlines rules of logic for exploits and if a transaction violates that rule it's not included in a block by block
Jonah
@jvb_xyz
Apr 20
If Aave can unilaterally freeze your assets, it’s not decentralized. Decentralization matters. Without it, you’re trusting a bunch of clowns you’ve never seen or heard of instead of JPMorgan.
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Phylax Systems reposted
Piero Foschi - Beyond The Block
@Fox_BtB
Apr 20
The problem is no longer the individual protocol. The problem, in my view, is that the industry keeps increasing complexity faster than its actual ability to verify it. The industry continues to push increasingly complex systems, but security can no longer stop at audits alone.
Our Crypto Talk
@ourcryptotalk
Apr 19
🚨 Hacks In 2026 (Till Now) 🗓️ April • KelpDAO : $290M • Drift Protocol : $285M • Hyperbridge : $2.5M 🗓️ March • ResolvLabs : $25M • Sillytuna : $24M • Kraken Whale : $18M • Venus : $2.18M 🗓️ February • IoTeX Bridge : $4.4M 🗓️ January • Trezor Victim : $284M •
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Phylax Systems reposted
Dean Eigenmann
@DeanEigenmann
Apr 19
every protocol handling withdrawals should be using something like @phylaxsystems set rules on what are and what aren’t normal interactions
Hasu⚡️🤖
@hasufl
Apr 2
Every Defi protocol should have: 1. Circuit breakers for deposit and withdrawals, and possibly other internal operations as well 2. Timelocks for any change 3. Security councils that can shut down protocols immediately We don't need insurance, we need to do start doing the
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