4 ms·
This attack was interesting because it's an economic, not software hack. https://twitter.com/joshua_j_lim/status/1579987648546246658?s=20 https://twitter.com/j
by nl 4y ago
This attack was interesting because it's an economic, not software hack.
https://twitter.com/joshua_j_lim/status/1579987648546246658?s=20 https://twitter.com/joshua_j_lim/status/1579987648546246658?... is the source overview.
The software all worked as expected, and it's difficult to see exactly which step you'd go "no, the person shouldn't have done that".
Arguably the fault is with the loan protocols that valued collateral at the instant spot price rather than some kind of time-averaged price.
- datalopers 4y ago> valued at the instant spot price The entire cryptocurrency hype machine is predicated upon quoting market capitalization based on instantaneous spot prices. Nobody thinks about liquidity until it's gone.
- piva00 4y agoThe person shouldn't be able to wash trades, that's the core of this "hack".
- nl 4y agoYes, this is true.