300 IQ play
Hacker siphons funds from Creams Iron Bank by borrowing against Alphas extra collateral in there and saddles Alpha with the debt? Jesus that's brutal. I guess this is the other side of DeFi 'ecosystems'. As vulnerable as the weakest link.https://twitter.com/Weeb_Mcgee/status/1360567313704120325 …
This is a complex exploit involving both protocols. Although at first glance, it seems like the money came from -
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Sometimes it is useful to be able to break a contract.
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The real news is that everything is interlinked and not isolated, so if you buy these tokens you are exposed to a bunch of risks from other projects. Good luck in this forest of scams, where is the decentralization if I have to trust the developers?
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Alpha is feeling pretty beta.
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When people say “we’re early” they mean “we’re testing in prod”
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There is no risk free yield, but some are undervalued relative to the actual risk taken.
End of conversation
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The new reality is a hacker can make 40m on a exploit cash out and no one knows who it is all in a days work
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