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> just mentioning that it may well have been a well coordinated targeted attack What kind of “attack” are you imagery that made them insolvent (or close enough
by happyopossum 4y ago
> just mentioning that it may well have been a well coordinated targeted attack
What kind of “attack” are you imagery that made them insolvent (or close enough to it)? They’re not uniquely impacted by any particular crypto crashes, so it’s hard to see how something could have been engineered to take them out.
- BLKNSLVR 4y agoI can only provide an oversimplified explanation, but the mass-selling of particular assets to which Celsius is over-exposed in order to trigger price dumping and therefore asset liquidations. stETH as the primary vector. There may also be a Celsius-token short-squeeze being coordinated in order to help Celsius maintain some level of perceived value. Who knows the reality, but it's interesting in a financial-trickery context.