|
|
|
|
|
|
by nl
1344 days ago
|
|
|
This attack was interesting because it's an economic, not software hack. 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. |
|
|
The entire cryptocurrency hype machine is predicated upon quoting market capitalization based on instantaneous spot prices. Nobody thinks about liquidity until it's gone.