TechFlow News, May 15: cobra, co-founder of Ranger Finance, announced that Ranger Finance is winding down operations. Some personnel and vendors who collaborated with, built for, and supported the project have not received full payment. He stated that during periods of cash strain, the founders personally injected funds to keep operations running and advanced fundraising efforts within MetaDAO; however, delays in fundraising led to an accumulation of unpaid bills. After fundraising was completed, the project secured only approximately two months of runway before the funds were returned. Ranger Finance noted that treasury liquidation exceeded expectations, adversely affecting employees, vendors, and growth budgets. Subsequently, the Drift vulnerability incident further hampered project progress. Vault users impacted by the Drift vulnerability will receive recovered tokens when distributed by the Drift team.
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