[Help Needed] Keep3r's Help on Iron Bank Issue

Hello Keep3r community,

First of all, I know that Keep3r and Iron Bank are different protocols.

However, the Iron Bank team recently abandoned the Iron Bank project without any notice and transferred their multisig ownership to Keep3r multisig (0x0d5dc686d0a2abbfdafdfb4d0533e886517d4e83).

We are users whose funds have been locked by Iron Bank and are seeking help from the Keep3r community. Detail:

1. Iron Bank freezes user funds

The two protocols Iron Bank (Cream V2) and Alpha Homora cooperated, but an exploit occurred in Alpha Homora in February 2021, which caused losses to Iron Bank. After the exploit, Andre Cronje brokered an agreement between the two protocols. Alpha and Iron Bank have issued a joint statement that as they continue to cooperate, Alpha will gradually repay Iron Bank (https://medium.com/cream-finance/joint-announcement-on-funds-repayment-a7d63870f7d6).

However, Iron Bank unexpectedly stopped withdrawing funds deposited through Alpha Homora on March 1, 2023. You can read more about this: https://rekt.news/iron-alpha/

Iron Bank continues to lock user funds to this day. It’s been 1 year and 1 month. The current value exceeds 60M. Alpha Homora has also left and been renamed: Stella (https://twitter.com/stellaxyz_).

2. Number of locked addresses:

203 in the ETH pool: https://etherscan.io/token/0xeEa3311250FE4c3268F8E684f7C87A82fF183Ec1#balances

37 in the USDT pool: https://etherscan.io/token/0x020edc614187f9937a1efeee007656c6356fb13a#balances

62 in the USDC pool:

33 in the DAI pool:

A total of 307 unique addresses are locked.

3. The Iron Bank team left the project:

This incident caused trust issues, resulting in fewer users and unhealthy liquidity on Iron Bank. Keep3r’s Fixed Forex was paused because of the Iron Bank issue.

Many users have filed cases with the police, and Iron Bank is facing investigation. Perhaps because of this, Iron Bank transferred their multisig ownership to Keep3r multisig without any notice on February 1, 2024.

Transaction: https://etherscan.io/tx/0xeb11bbb0c1d1e188a4cdbf010f8aed4e55fd6f6cf1ffdde770d6be35dfdc3237

4. We need help from the Keep3r community!

Starting from March 1 2023, user funds have been locked for 1 year and 1 month, and the current value exceeds 60M.

We have always believed in the financial freedom created by DeFi, and the Yearn ecosystem you created is also the DeFi project we support most. But the Iron Bank team illegally modified the code to lock user funds, which severely damaged our love for DeFi.

I know the Keep3r has not made any statement about taking over Iron Bank, but we, the victims of the Iron Bank incident, hope that the Keep3r community who accidentally gained Iron Bank ownership can help us find justice and unlock our funds. Thank you all in advance!


Hello Keep3r community,
Please consider this request.
Hopefully you can give us some kind of an announcement soon


Slm arkadaşlar son durum nedir

I agree with this post. We the users of Alpha’s lend defi product unfairly had our ETH locked up by IronBank and now Keep3r (since the control is there now). Please allow withdraws immediately so that this legal issue can be resolved. If 100% of the funds are not available then provide clear communication to the owners of the ETH locked up on what can be redeemed.