/biz/ - Business & Finance

Here
https://medium.com/linear-finance/%E2%84%93usd-exploit-283f2d32a2f3
"On 21st Sept 2023 the Linear Finance protocol was subject to an attack that resulted in the draining of all lUSD liquidity on both PancakeSwap and Ascendex, resulting in the price of lUSD going to zero.

The attacker was able to mint an unlimited supply of lAAVE and subsequently traded the liquid asset to lUSD on the Linear Exchange, prior to selling it on PancakeSwap and Ascendex.

The Linear Team have taken the following actions to protect the protocol, our assets and our users:

All protocol contracts that allow tokens to be minted, burnt or exchanged have been paused.
The Linear bridge contract has been disabled for lUSD.
The Linear Team have engaged an industry leading team to track the attacker(s) and bring them to justice.
Wallets known to have taken part in the exploit have been shared with all major exchanges and authorities

Restoring the protocol and un-doing the damage for our users will be our highest priority until the issue is fully resolved.

We apologise sincerely to all of our users. At this stage we regretfully ask for your patience and support and we assure you that we will continue to update you on a regular basis.

Linear Team"

>hit up Beefy
Jesus Christ...
Oh, man.
Uh...
Guys I generally gauge interest in our little pretend money party on liquidity pools.
Damn, is basically my summation right now.
Damn. Run, and don't look back.
(Everyone is in stablepools, the next step off the ledge is depegs)

But it has nothing to do with my personal finances, which is the purpose of this board.

sustained!

BNB is currently burning the walls to heat the house.
AVAX thinks it can dump millions of coins into the market and still maintain $13-$15.
Link... Christ.
Ether is alright.

Marketcap of base network is too low for farms. It's too early to do much of anything unless you're a dev. I will let it bake.

>>55770922
Bitcoin is the bank of the world.
At least, that's how it should be seen.
People see it as a scam. I don't. People can be manipulated into bad crypto purchases. Scams can exist, but I don't think Bitcoin is a scam. No one runs Bitcoin.
>but whales do stuff
And it's still $29k.
and it's 2023
failure? Scam? I dunno, bro. Seems to be doing ok. Better than beanie babies.

Put it all into spaxx or a similar money market fund and live off of it.

Been messing with crypto for three months.
If you aren't betting on shitcoins, walk away. There's no reason to invest in a CEX. There's no reason to invest in LTC, BTC, ETH, nothing in the top 10. It's pointless. They're just going to lose money.
Crypto is a dying fad. You can make money off of the idiots who drink the Kool aid on dex, just don't ever expect to turn a profit DCA-ing into a downward slope.

>stock market crashes
Haha, good thing that has no effect on crypt-AAAAAAAAAAAAAAAAA!!!!!!