Mirror Protocol is being exploited again as we speak, and the devs are completely MIA. So far, the attacker has drained over $2m and counting - the attack will get worse when markets open tomorrow unless the dev team steps in and fixes the price oracle. @mirror_protocol (1/4)
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Replying to @FatManTerra @mirror_protocol
I don't quite understand the event. Is it negative for lunc and will it affect its price?
1 reply 0 retweets 0 likes -
Price oracle thinks lunc is worth more than it really is, allowing it to be used as collateral for huge loans. The user can then withdraw these loans and profit. Can't see it having much of an effect on
$lunc price.4 replies 0 retweets 6 likes -
Replying to @Rich_Zendo @Calluf3 and
Surely loans have to be paid back though or do they profit by getting interest on them. What is mirror protocol so I can avoid it
3 replies 0 retweets 2 likes -
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Replying to @ExclusiveConce2 @ryanDiy88 and
Actually just heard that the issue might lie with
$LUNC validates running outdated versions of the price oracle. So$MIR may not be at fault here.2 replies 1 retweet 3 likes
This is true - I added at the bottom that validators need to update their nodes or Band has to put in an emergency adjustment (probably never happening) - I would like to see Mirror devs actually come online and talk about this (and crucially, put out a call to action).
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