[FRIAM] Euler exploit

[glen]

That 2nd link is helpful. Thanks.

I still don't see how this is properly termed a "hack", though. I'm not even sure "exploit" is a reasonable word for it. You borrow, say, your neighbor's chicken for 3 years. Egg production tanks. Then you pay back your neighbor by giving them their non-producing chicken back.

I mean, like, that's how it works, right? That's biology. The "exploit" is in the "manipulation" ... and "manipulation" is based on some concept of ceteris paribus ... some sort of "natural law", which is a problematic philosophy in the first place. All of these coins are manipulable. That's an essential feature of the sh¡tcoin. So if manipulation is an essential feature, why is manipulation an exploit? It's a feature, not a bug, right?


On 3/15/23 09:12, Steve Smith wrote:
> Good one Gil !
> 
> And my contribution: Another Day, Another Billion <https://de.fi/rekt-database>. Who knew?
> 
> I'm tempted simultaneously to seek an analogy between the current Blockchain/Crypto-Wild-West and the early Industrial Period  as well as with any era of biological/evolutionary florescence...
> 
> I looked around for a clue-stick to test out on myself before offering it to Glen, but found nothing satisfying as of yet...
> 
> I did find this on flash loans and the attacks crafted around them as of a year ago... I was (almost) able to follow the bulk of the description:
> 
> https://coinmarketcap.com/alexandria/article/what-are-flash-loan-attacks
> 
> On 3/15/23 9:33 AM, Gillian Densmore wrote:
>> lol how you put it reads like people putting together a band list and a NSFW get together.
>> Person: ok The Multichain Bridges are for the really freeky people, Has anyone heard from the Crypto Mixers? what about Soft Liquidation Logic that hot new techno goth band?
>>
>> On Wed, Mar 15, 2023 at 7:10 AM glen <gepropella at gmail.com> wrote:
>>
>>     Euler attack causes locked tokens, losses in 11 DeFi protocols, including Balancer
>>     https://cointelegraph.com/news/euler-attack-causes-locked-tokens-losses-in-11-defi-protocols-including-balancer
>>
>>     I'm so totally lost ... multichain bridges, crypto mixers, soft liquidation logic, 2/3 Gnosis Multisig, ?!?!? What in hell am I reading? Whippings with the clue stick welcome.
>>


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