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.
69
210
1,243
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.
1
cryptomonhi.eth (✨🔴_🔴✨)
@CryptoMonhi
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.
1
cryptomonhi.eth (✨🔴_🔴✨)
@CryptoMonhi
Replying to
@jespow
and
@Does_not_mattr
Thats a fair point no doubt. I'm personally just a bit skeptical about how good high level audits can really be when you are dealing with numerous protocols interacting. For this incident in particular though, they should have been using an external price oracle.
1
Jesse Powell
@jespow
Yup, would be hard to get a good one but how much money is at stake? Maybe you should get 50 audits and between them all, you’ll have good coverage.
1
Show replies
Show replies