Two days ago, I became MakerDAO...

Author: Someone from Foresight News, anonymously pretending to be an expert

Yes, the Twitter account with the username @MakerDAO is now in my possession. I’d like to share from a first-person perspective what exactly happened, along with some random thoughts:

What Happened

To deliver first-hand news to Foresight News readers, FN members constantly monitor various information sources. I’m no different — so I was among the first to learn that "Maker has rebranded."

First-hand information is often incomplete. To provide complete and reliable updates, FN members dig deeper. I did the same — what exactly did Maker rebrand into? I visited their official Twitter; everything looked normal at first. Then I refreshed — the display name had changed to Sky, but the username remained unchanged.

Like our audience, FN members are sharp-minded individuals who can extract actionable insights from raw information. I acted accordingly — if the display name changed, surely the username would follow. So why don’t I try changing the username right now? Maybe I could grab this highly symbolic handle?

It worked — surprisingly smoothly. Soon I sat staring at my screen, gazing at the newly acquired username and my elegant fingers, lost in thought — Could I actually be a genius?

No wonder Foresight’s breaking news is so fast.

WeChat group chat screenshot from Foresight News

What Could Have Happened

After coming back to my senses, I suddenly felt a wave of fear.

This must count as a serious operational oversight by Sky — if it weren’t me, this could have turned into a disaster. If a North Korean hacker or any malicious actor had obtained this username, they could have changed the profile picture and display name back to Maker or Sky, announced “the biggest airdrop in crypto history,” and attached a phishing link. Or they could have deployed a scam token and falsely claimed it was Maker’s official token contract. Given Maker’s influence, many users could have lost substantial assets.

Moreover, I could have simply sold the account and walked away with a huge profit, without bearing any legal responsibility. “I have no idea what the buyer might do with it,” after all.

Luckily, FN members are upright, selfless, and immune to ill-gotten gains.

A Bit of Reflection

Why did this happen in the first place? Beyond Sky’s execution mistake, this incident exposes a chronic problem of centralized social platforms.

The crypto industry, which champions decentralization, conducts far too much communication on X (Twitter), a centralized platform. And we still lack true "decentralized identities."

This means that the loss or compromise of a centralized identity can cause significant potential damage to projects and users, regardless of technical or other reasons.

For the industry to progress, we need to change.

Resolution of the Incident

On-chain investigator ZachXBT mentioned that clients using phishing tools offered a six-figure USD sum for this username. Honestly, seeing that price made me slightly regret being so principled — why didn’t I just take the money and run? (Just kidding.)

But to protect the industry, its users, and my own conscience, I stuck to my principles. (After giving up so much money, can’t I at least praise myself a little?)

In the end, I only posted some lighthearted, self-entertaining content under the @MakerDAO account — nothing for personal gain.

And because I love my company so much, I voluntarily drove traffic to FN (boss, please give me a raise immediately, no need to discuss). This eventually led Maker (Sky) to trace back to me through the company.

I'm inclined to keep this account. On one hand, as a crypto practitioner and DeFi enthusiast, owning such a unique username has a certain collectible value. On the other hand, it also brings significant traffic, which matters greatly to media professionals.

If allowed to retain the account, FN and I will use it to discuss beneficial topics like DeFi, decentralization, and DID, aiming for a win-win outcome. However, Sky’s team has contacted me expressing their desire to regain control of the handle — though they don’t seem to be in a hurry.

Negotiations are ongoing. That’s the current status.