RIADeFi
Not approved · Other

Ketju memo: Aster Bridge

Not approvedPublished by Ketju Research

This memo sets out what the holder owns, who controls it, how holders could lose money, and whether a position can be sold. The advisor decides any client action and amount. Not investment, legal, tax, or compliance advice.

Summary

Ketju does not approve Aster Bridge: Aster discloses no multisig, council or other party that can pause or upgrade the bridge, and DefiLlama has flagged Aster's self-reported volume as unverifiable amid wash-trading concerns. We found no confirmed exploit. Aster Bridge moves collateral into Aster, a perpetuals exchange whose team, CZ has publicly confirmed, includes former Binance staff. We searched Aster's own documentation directly and found no named admin, pause or upgrade authority for the bridge or core contracts. Ketju has declined other bridges for the same gap. The DefiLlama warning weighs more. Ketju uses DefiLlama for TVL figures throughout its memos, so it does not set aside DefiLlama's own warning about this protocol.

Review triggers

  • Aster Bridge's admin, pause and upgrade authority is publicly disclosed and mapped to named parties or to a multisig with a published threshold
  • DefiLlama or another independent data provider restores verified volume and TVL reporting for Aster, with no flag, for at least 90 days in a row
  • Token concentration among the top wallets falls materially from the reported level of more than 96% in six wallets, independently verified on-chain
  • A proposed-size withdrawal is independently shown to clear without delay under normal and stressed conditions

Facts

Verdict
Not approved
Type
Other
Chains examined
Ethereum
Reviewed
Last confirmed

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