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/biz/ - Business & Finance

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17311323 No.17311323 [Reply] [Original]

DeFi is getting too complex with the interactions between these exchanges. More hacks will come as bugs are inevitable. Sell your ETH now while you can

>> No.17311344

>>17311323
god I hate Ethereum

>> No.17311366

How come this shit is happening in bZx and not Maker?

>> No.17311371
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17311371

>>17311323
the internet is getting too complicated with the interactions between endpoints. more hacks will come as bugs and vulnerabilities are inevitable. sell your Microsoft and Apple now while you can.

>> No.17311395

https://cryptobriefing.com/2388-eth-estimated-lost-bzxs-second-exploit/

>"The trader that executed is said to have made off with 2,388 ETH, or approximately $638,000 at current prices. This exploit has the bZx team streamlining the implementation of ChainLink’s oracle service on an expedited schedule. "

ohhh nooo these hacks suck man

>> No.17311406
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17311406

>>17311323
They should have used Chainlink

>> No.17311411

>>17311395
It wasn't event a price Oracle issue, it was a bug exploit in bZx's smart contract code that failed to sanity check the level of collateralization of the trade.

>> No.17311416

>>17311323
ETH is a MESS

>> No.17311493

>>17311411
did you read the article retard:


"After a tumultuous week, bZx was hit by another exploit. This time, co-founder Kyle Kistner believes it was caused by manipulation of the protocol’s price oracle, as per the bZx Telegram channel. "

>> No.17311555

>>17311323
What a fucking joke of a mess ETH has become lately. Well, to be honest, it never has been a very promising coin.

>> No.17311560

>>17311323
its not a bug its a feature.
code is law

>> No.17311654

>>17311371
you're comparing the relationship between apple/microsoft and the internet to defi and ethereum....are you fucking retarded or something?

>> No.17311687

>>17311493
My bad I was so gun-ho on FUDing I didn't read it.

>> No.17311703

>>17311654
If someone writes a shitty javascript frontend that doesn't work, does the problem lie with the javascript language or the shitty code?

>> No.17311717
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17311717

>>17311654
early-stage new technology will always have issues.
the first computers were disgustingly vulnerable, as well as the first internet protocols (see: telnet)

the point im making is that you cant expect this shit to be bulletproof when it hasnt existed for even 5 years

>> No.17311913

>>17311555
What a fucking stupid post. The reason this shit happens on ethereum is because it's the only fucking platform that's being used. And btw, it was NOT an ethereum hack. Ethereum has never been hacked. If you use Chrome to post your private keys on biz and you loose the 14 dollars you've been saving that doesn't mean Google was hacked. You fucking subhuman.

>> No.17311946

>>17311703
that's a more accurate comparison. apple and microsoft were making personal computers. they had nothing to do with the internet in the early days.

>> No.17312001

>>17311913
>only platform being used
get out of your cave more

>> No.17312049

>>17312001
Oh yeah I forgot that all the world's banks are now using XRP and twitter runs on BSV. And my dentist only accepts dentacoin.

>> No.17312371

>>17311366
Because bZx uses DEXs for its price oracles, and only one or two at that (Kyber and Uniswap I believe). The relative low-liquidity/volume on the DEXs allows for price manipulation.