You can find the details in this article (not written by me): https://obelisk.medium.com/meerkat-finance-and-the-0-that-was-worth-31m-769d9321d245 https://obeli

You can find the details in this article (not written by me): https://obelisk.medium.com/meerkat-finance-and-the-0-that-was-worth-31m-769d9321d245 https://obelisk.medium.com/meerkat-finance-and-the-0-that-wa... In short: * the smart contact is made in a way that allows upgrades by an administrator * the developers transfer their administrator privileges to another user as a show of good faith * the code to transfer the privileges actually doesn't do anything * the developers upgrade the contract giving themselves permission to take the funds