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Someone in the group is again sharing a screenshot claiming that “a certain stablecoin is about to de-peg.”
My first reaction isn’t to check the K-line—I first look to see whether it has been updated recently: is GitHub dead, are there only two people half-heartedly making commits, and when the version number jumps, is there corresponding change documentation?
And don’t just look at the cover logo of the audit report—focus on the time, the scope (which contracts were audited, and whether key modules were excluded), and whether the issue list has links to evidence showing what has been “fixed.”
Also, upgrade permissions are the most critical: who has the multi-signature keys, what the threshold is, whether there is a timelock (giving you reaction time before they run), basically, it’s about whether “in case something goes wrong,” someone can change the rules with a single click.
I don’t regret the outcome—I regret that back then I saw only one line saying “audited” and rushed in; later I realized the upgrade key is just like leaving the lock off…
Anyway, beginners shouldn’t be afraid of the trouble. If you don’t understand, start by checking permissions and update times—at least that way you can avoid the most ridiculous traps.