Conversation

Jesse Powell
@jespow
Stop fucking up your bullshit DeFi scams and expecting exchanges to bail you out. I will not accept your attempt at externalizing the cost of your hasty, reckless rollout. Invest in audits, insurance and please DYOR. Taking your losses is the only way to enlightenment.
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cryptomonhi.eth (✨🔴_🔴✨)
@CryptoMonhi
Their contracts weren't broken. It was an arbitrage exploit of the stablecoin pricing mechanism in the contract. There was no "hack". Audits don't cover high level economic attacks. Only low level code issues.
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cryptomonhi.eth (✨🔴_🔴✨)
@CryptoMonhi
Replying to
@jespow
and
@Does_not_mattr
That is a good question. Was the risk known or a known unknown? As I mentioned earlier most audits only cover low level code functionality (re-entrancy, etc), not high level economic attacks like this. Definite market for that sort of audit though.
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Jesse Powell
@jespow
You can get audited for anything. If they chose to only get a low level code audit, that’s on them. You need to audit all external dependencies, and the system as a whole. It’s like hiring armed guards but you never run a background check on the housekeeper.
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