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/biz/ - Business & Finance

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49949345 No.49949345 [Reply] [Original]

Chainlink oracles fail, aave exploited for 1 million

>> No.49949373

Oracles are one of the riskiest and untested sectors of crypto. I don't recommend investing in anything related to them. Just look at all these hacks.

>> No.49949380

>>49949345
Link sucks, use Zap Puff Daddy’s recommend oracle solution.

>> No.49949394

>>49949345
> harmony gets exploited
> "wtf why didn't aave stop the count!"

>> No.49949402
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49949402

>>49949345
It’s over

>> No.49949413

>>49949345
how does harmony bridge getting exploited have anything to do with chainlink?

>> No.49949416

>>49949345
OP could you succintly point out to me where did the oracle fail?

>> No.49949431

>>49949345
ITS OVER

>> No.49949462

>>49949345
ICP fixes this

>> No.49949483

>>49949413
It didn't report the depegging stables

>> No.49949501

>>49949413
It has nothing to do with it. Just a bait thread title

>> No.49949508

>>49949483
seems like tranquil_fi didn't have any problems

>> No.49949533

>>49949483
I am going to guess, without looking into the situation, that the oracles worked as intended but were not set up to update quickly enough by whoever wrote the smart contract

>> No.49949541

>>49949462
/biz/ is still ignoring the sleeping giant

>> No.49949554

>>49949533
Chainlink wrote the smart contracts

>> No.49949662

>>49949533
>>49949554
this is precisely the problem with smart contracts and oracles
"code is law" does not work, every software developer knows software is inherently insecure

>> No.49949681

>>49949554
Do you know who determines the reporting frequency. I would think that isn’t chainlink but aave

>> No.49949703

>>49949554
Source it up niggerboy

>> No.49949754

>>49949681
It's also triggered by big changes in price. I'm going to guess that AAVE didn't have an oracle for Harmony-USDC specifically. As a Chainlink holder, I'd like to encourage all dAPPs to buy oracles for all the chains on which they are active from now on.

>> No.49949790

>>49949681
doesn't matter who wrote them
it's every day there is more evidence that it is too dangerous to allow smart contracts to process real money

>> No.49949820

Don't use a full market coverage price oracle where a watchdog oracle is needed. Chainlink will have to show the space how proper anti-fraud is done.

>> No.49949827
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49949827

>>49949345
>>49949483
>Chainlink oracles fail
except Tranquil finance also uses Chainlink oracles and they were fine (as per your own pic), retard.

>> No.49949829

>>49949790
>doesn't matter who wrote them
lmao
>every day there is more evidence that it is too dangerous to allow smart contracts written by retards to process real money
ftfy