Is It Exploitation Season for DeFi?

Technology

Are two recent attacks taking advantage of “flash loans,” low liquidity and price oracle issues the first of more to come?

Part of what makes decentralized finance, or DeFi, interesting to people is how it takes advantage of open-source protocols to enable types of transactions never before available. The problem, however, is financial structures mean new financial vulnerabilities.

In the last few days, two attacks on bZx have used a similar strategy of manipulating the price of synthetic assets in the context of a new instrument called “flash loans.” On this episode, @nlw breaks down exactly:

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Products You May Like

Articles You May Like

Infamous North Korean hacker group identified as suspect for $100M Harmony attack
NFT hype evidently dead as daily sales in June 2022 dip to one-year lows
TON Foundation launches Ethereum Name Service-like domain names
Colombia Launches National Land Registry on XRPL, How Ripple Made It Happen
Former Monero maintainer Riccardo ‘Fluffypony’ Spagni to surrender for South Africa extradition

Leave a Reply

Your email address will not be published.