LibreCharts

2021-02-18 11:34:17 This guy Frank Researcher has no clue what the fuck he’s talking about

https://twitter.com/FrankResearcher/status/1357639434380992512?s=20

He’s one of the people I’m trying to wean you guys off of Open / Comment

2021-02-18 11:34:17 The transaction is the most sophisticated one I’ve ever seen in this space. There were two flash loans back to back.

First was with dydx, the second with Aave (with interest). They did the second flash loan as an interest bearing one. First time for wETH, then they obtained aWETH

The attacker then collateralized their aWETH on Compound, then re-collateralized their minted Compound derivative Ethereum. This is important because the exploit is due to a weird confluence of swaps that essentially amounted to a few hundred million 3crv tokens being minted (that’s the LP reward from the 3-pool), which was then burned (and still is being burned) continuously for DAI redemptions. Open / Comment

2021-02-18 11:34:15 “I’m seeing some misunderstandings...” - yeah, Frank. It doesn’t make fucking sense to people because they aren’t stupid.

Why do you think everyone is confused about what he’s saying? It doesn’t actually add up logically. How the fuck could LPs get $3.5M in fees off of a $11M transfer? You’re saying the LP fee is 35%? Since when?

They executed this exploit purposefully to accrue nearly all fees. Open / Comment

2021-02-18 11:34:14 YFI lost more than $11 million. The total is upward of $20 million. The exploit is still ongoing.


https://etherscan.io/address/0x9c211bfa6dc329c5e757a223fb72f5481d676dc1#tokentxns

You won’t believe it because I don’t have 100,000 followers on Twitter but for anyone who cares, there you go Open / Comment

2021-02-18 11:33:14 ​​Yearn Finance (YFI) has restored its yDAI vault. Following the recent exploit Yearn has opened a Maker Vault with YFI from the treasury to mint 9.7M DAI and make the yDAI vault whole. Open / Comment

2021-02-18 11:30:17 ​​Yearn Finance (YFI) has restored its yDAI vault. Following the recent exploit Yearn has opened a Maker Vault with YFI from the treasury to mint 9.7M DAI and make the yDAI vault whole. Open / Comment

2021-02-18 07:35:05 The Fuck is Going On With Binance Coin?

They're pumping to high hell.

Guess Binance needed some more money on its books already. Open / Comment

2021-02-16 21:28:41 Custodianship Should be Handled by Actual Cryptographers and Network Security Experts

At the end of the day, you're trying to protect highly sensitive / secret / valuable information - and this is no different than what major nation states and multi-national corporations need to do through the ordinary course of business.

Far as we know, the entities that market themselves as "custodians" in the blockchain space are not actually qualified for this type of work, unless they have actual cryptographers on board. Open / Comment

2021-02-16 20:55:34 Document #2 - Contractual Obligations for Digital Asset Custodial Providers

https://www.microstrategy.com/content/dam/website-assets/collateral/bitcoin-downloads/MicroStrategy-Contractual-Considerations-for-Digital-Asset-Custodians.pdf

Since the target audience here = corporations, let’s be candid.

1. Corporations or any organization out there considering plopping sizable capital into cryptocurrency should be maintaining and supervising their cryptocurrency in-house.

2. I say what I mentioned in #1 because there is no demonstrable evidence that custodians possess a general knowledge or competency above that of the general public.

3. The process of custodianship is inherently insecure Open / Comment

2021-02-16 20:44:35 Decided to go digging into their “open source” documents on “Bitcoin for Corporations”.

Here’s document #1 = https://www.microstrategy.com/content/dam/website-assets/collateral/bitcoin-downloads/MicroStrategy-Bitcoin-Initiative_Project-Roadmap.pdf

Seems like they’re underestimating the level of due diligence necessary to make informed decisions in this space. Diversification was mentioned briefly, but only once.

Nothing with regards to what it is about Bitcoin that has Micro or anyone else convinced that there’s monstrous upside still left for Bitcoin to actualize.

Grayscale has Trusts for Litecoin, $BCH, Stellar, ZCash, and Z3N.

Seems none of those are even on the table for Micro.

Remember, they had to DCA their way to break even status back in 2020 (after somehow missing the painfully slow >300% appreciation in BTC’s price from March 2020 up to their initial announcement of doubling down into Bitcoin). Open / Comment