Zk
- Trustless Systems: ZK, DAOs, and the Architecture of Unstoppable Code
Tracking the development of trustless infrastructure: zero-knowledge proofs, zkEVM scaling, DAO governance experiments, smart contracts as programmable law, and the convergence of AI and cryptographic verification. This week: Drift Protocol lost $285M to an admin key compromise combined with oracle manipulation -- the largest DeFi exploit of 2026, and a clear demonstration of how trustless code fails when the control layer isn't trustless.
- The ZK Math Was Fine. The Ceremony Was Never Finished.
Veil Cash and FoomCash became the first confirmed live exploits of deployed ZK cryptography in production. The flaw wasn't a broken proof -- it was a trusted setup ceremony that was never completed. FoomCash lost $2.26 million to an attacker who read a post-mortem and executed.