Three DeFi protocols across NEAR, Base, and Sui were drained on Tuesday. One of them, a $3.46 million Sweat Economy incident, later turned out to be a foundation rescue.

Bloomberg analyst James Seyffart used the cascade to needle Crypto Twitter’s AI-versus-crypto debate. He suggested the bigger threat to digital assets is the same one as always.

Tuesday’s Drain Cascade

Blockaid raised the alarm at around 1.36 p.m. UTC. Roughly 13.71 billion Sweat Economy (SWEAT) tokens, about 65% of total supply, moved through an attacker address.

On-chain analysts including former NEAR core contributor Zacodil traced the activity to an April 27 contract redeploy. The redeploy added refund_first and refund_second methods.

A single…