/biz/ - Business & Finance

...........

>>27759144
SHORT YFI

>>27759144
KEK another scam and scandal in the crypto world

>>27759144
Is the the power of a salty fudding linkie mad his crabcoin is being dumped because sirgay cant stop buying lambos and bigmacs?

No I went all in 100 dollars on this what the fuck why is this happening this is on Coinbase it can't be hacked why is this happening fuck no no no no

Currently contacting my bank to refund the last two weeks of crypto purchases

>was going to buy in tonight after I got off work
Wew lads

>>27759270
Half of Crypto is literally about PaD scamming, it's why there's always threads shilling a shitcoin. Buy in real early and hold until the dump.

Is this something that would kill yearn?

>>27759521
Did the binance hack in 2018 kill binance?

>>27759396
buy the dip

DeFi is the cool word for Ponzi Scheme

Can someone explain the significance of this? What wallets does this affect?

>>27759870
Buy REEF now

>Yearn DAI v1 vault got exploited, the attacker got away with $2.8m, the vault lost $11m. Deposits into strategies disabled for v1 DAI, TUSD, USDC, USDT vaults while we investigate.

>>27759870
See above. This affects Tether, so there could be whole-market loss of confidence.

>>27760134
bullish for NGM

>>27760134
Thank you man!

>>27759144
this shit is why DEXes can't ever be mainstream

>>27759866
Uhh ponzi schemes are banks, banks fucking print money

>>27760134
wen refund

>>27760093
Why should I buy REEF now?

>>27760134
How does it affect USDT?

>>27760359
>escrow scams on the internet is why ebay and paypal can't ever be mainstream
every clear sell signal is countered by smoothbrains reminding us how early we are
crypto is hell

>>27760134
Is this the beginning of the bear market?

hold me DEFI bros

>>27760608
No USDT is lost _yet_, as far as we know.
What would you do if you have USDT stored in those vaults, knowing that one of them just got hacked?

>just threw 500 bucks at anyswap an hour ago

kek bye money

>>27760780
Oh got it, fortunately I'm wrapped in cUSDT

>>27760780
I guess they could just ask them to print more ehehe

>>27759396
Imagine those with limit orders. Are they filled?

Will pic related become the CZ of DEFI and legitimize it once and for all?

Meanwhile RSR is unhackable

>>27759144
Another flaw in Andre Cronje's code? It's becoming a habit with him ... I think I'll sell my FTM before it gets hacked.

>>27760661
Yeah you're right, normalfags are just lining up to get in on DEXes especially with these amazing gas fees
You have no idea what you're talking about desu, normalfags are idiots and DEXes are not idiotproof, there's no support on DEXes, if you fuck up you're on your own and that is a normalfag's worst nightmare

>>27760950
>dogshit coin rearing it's head in the picture
take your heavy bags somewhere else

>>27760780
This wasn’t a flash loan attack right?

>Falling for pajeetcoin scams and not buying Rubic
None of you will ever make it

Shorting YFI on 50x is so comfy right now. See you at 15k.

>>27760365
Has anyone ever asked themselves how these insane apy’s in DEFI are achievable / sustainable ?


One of these platforms a is going to blow up big time sooner or later

There was a thread earlier warning ppl about this lol

>>27759144
Here comes the chainlink integration
Can't wait for Compound and Maker to be fucked (Maker, again)

EVERYTHING IS DUMPING GET OUT SELL NOW

>>27759144
AHHAHAHAHAHAHHAHAHAH

>>27759144
AHAHAHAHAHAHAHAHAHA PHEW GLAD I HAVE ACTUAL MONEY

>>27761732
Maker mooned to fuck today wtf

>>27759144
It’s it much money in the grand scheme

This is why I use blockfi. Lower rewards but risk is also much lower.

>>27759144
oh no no no
Hahahhahahha Andre lmao

>bro just pay $1000 in fees to deposit your $50k to earn 10% apy
>Oops it got hacked after 1 month, hope that $500 in interest was worth it. You'll need to withdraw your remaining 32k (another $1000)

Lmao defi is fucked. Ethereum is the biggest piece of shit of all time too

what do you mean with DeFi?

Andre's shitcoin got hacked

>>27762329
This, although it could mean lost faith in other defi projects

>>27762137
>give your money to a literal company like bitconnect
>risk is much lower

>>27762262
your eth killer shitcoin is the future bro

>>27762159
>>27762329
give it to me straight am i an idiot holding fantom

>>27761156
It was a flash loan attack
>>27761732
Compound was a part of this, but I'm not sure if the actual exploit happened at their end. To me it seems the attacker just gamed the system. Let's see if this is the end of defi bull

>>27761732
Care to explain?

>>27762262
>Ethereum is the biggest piece of shit of all time too

agreed. fuck vitalik that piece of shit. assrape in fees just get hacked

>check binance wallet
>my yfi is gone

>>27762457
YFI only purpose is to farm food tokens
nobody took it seriously and never will, it wont ham serious defi coins

>>27762529
Doesn’t link help with flash loan attacks? Or were link oracles not being used here?

>>27759144
Bullish for AAVE

>>27762523
i just spent 5k on fantom two days ago.... they weren't joking about haha like a ghost money gone oh my GOD

>>27759144
I was about to drop 1.5K into a couple coins today but kept getting sketched out about how so many coins had x2’d in the past week/month.

>>27761628
Do you know where it is? I can't find it.

>>27759144
HAHAHAHAHA
KEEP BUYING ERC20 SCAMCOINS YOU FUCKING RETARDS.

>>27762262
This. Fees make playing with anything but huge sums unprofitable, but then you have huge sums on something untested.

I had 5k alink in a vault at some stage and eventually after weeks took it out at a loss due to hating feeling unsafe.

>>27762633
How so?

>>27759144
HAHA AND TO THINK I WAS GOING TO BUY INTO THIS SHIT BUT I COULDN’T BECAUSE I’M POOR HAHAHA YOU’RE ALL SO MUCH DUMBER THAN ME

It didn't even dump below 29600
A nothingburguer I guess

SELL SELL SELL ITS OVER!!!

>>27761323
bobros get in here

>>27762579
worrying if true, even for bobos

>>27762632
Yes, but flash loans in and of themselves are just another useful defi project. I think no one knows what happened, but it could be the yfi vault was games. Some weird looking transaction were made in and out of the pool multiple times. It could be that chainlink oracles could have prevented this and whether this was an oracle related attack compound is begging to get hacked by not using cl

>>27761509
that's why they have to get billionaires to shill to keep the ponzi going. retards can't just stack decentralized p2p value transfer coins and wait for trad finance to eat itself. they want to chase pumps to do they can sell for FIAT. fucking retards. fuck this gay earth.

>mfw Ripple with Flare on it will replace Ethereum soon

its over

>>27762633
just used Aave to short Yfi
>>27762803
because Yfi apys competed with aave apys but now it turns out Yfi was not sustainable

>>27762877
CHECKED, poor bros unite.

>>27762529
Play Jewish games, win Jewish prizes. 'Yes magically make money by borrowing it out to other people! Take out loans with zero collateral!' Just get in stocks lol

>>27762913
you will regret blindly accepting this current market denial lol

How did it got hacked? Isn't it a super pooper scooper secure sha69 decentralized quantum blockchain technology?
Also, why store you money at someone else's place? Are you guys ok?

>>27762928
it true, i didnt invest a lot but it's still fucked up

https://etherscan.io/tx/0xb094d168dd90fcd0946016b19494a966d3d2c348f57b890410c51425d89166e8

that is the exploit 161 transactions. this is why you dont put your trust andre and instead go with the based math god nipun pitimanaaree. people in the dai vault had all week to move it to alpha homora v2 i dont feel sorry for them. ALPHA FINANCE BABY

>>27763078
are you retarded? serious question

>>27763078
Borrowing money to other people with interest isn't very magical nor a new thing. Flash loans are some pretty wild stuff tho. There are some very smart people thinking very deeply about how to make them work, but people tend not to listen and that's why shit happens.

>>27763106
I don't hold any YFI tho

>>27763587
but you would short if you had any sense of what's going on

>>27763304
pathetic, maybe with the price drop it became so little that binance stopped counting

>>27759144

This is why I buy silver

Bullish for PRQ however.

>However, PARSIQ’s real-time monitoring technology spotted the anomalies in withdrawals and alerted the CoinMetro core management, who locked down the system, preventing a large-scale theft of funds. The team at PARSIQ made a snapshot of their PRQ tokens on CoinMetro prior to the hack and hard forked the smart contract in order to return the stolen PRQ tokens to their owners.

>>27763953
so decentralized

>>27763953
based i don't even hold any parsiq but happy for u guys

>>27763923
>robber comes in your house and sees a stash of precious metal coins that can easily fit in a pocket

Bullish for Armor, their insurance partner as well

>>27763953

How many of these hacks do we need before the hacks in this space realize oracles are such an achilles heel for Defi?
I have no idea the liquidity of the asset in question that was used as an attack vector, but moving forward we need the added security in these protocols of decentralizing the oracles to make them more secure and increasing the difficulty of attack vectors through these flash loans.

>>27764016
Yeah, it's the main point of parsiq.

>PARSIQ’s blockchain snapshot technology also helps KuCoin in retrieving projects’ funds from the recent $281 million exchange hack. PARSIQ utilized its innovative technology to do a "snapshot" of the state of its token holders before the KuCoin security breach. A snapshot contains information about the possessions in the wallet addresses, displaying the exact amount of funds before the breach.

>Through the PARSIQ snapshot service, over 81 million NOIA tokens, as well as around 1.7 billion CarVertical (cV) tokens were re-issued with a 1:1 ratio, and token holders that were affected during the theft were reimbursed. All new tokens were reissued via a new smart contract, discarding the previous contract address and tokens. This affected the stolen tokens by making them worthless and with zero impact on the secondary market.

>>27763326
Indians have like a 77 IQ average.

>>27764328

>I catch the nigger and melt his golden teeth to fit in my gold-stash

>>27759144
Before I scroll the thread Im wondering how many posts before Chainlink is mentioned as the oracle they should have been using to avoid this exploit.

>>27763350
>>27763439
it's no different than their current scam
system. you think because they call it "decentralized" it's not the same thing?
lmao at you idiots

>>27761732
Took a while longer than I had thought. Although the 4th post mention Sergey and bigmacs Im not counting that meme

>>27760606
Not that anon but Denko is super autistic about the security of Reef for this reason. Wants to only have 200k USD on the platform in total when it launches then autistically monitor attempted security breaches. Idk why you have to buy reef tho. You don’t have to do anything.

>>27764409
bullish for LINK

extremely bullish for BSC defi, look at that buy on XVS

>>27764409
>decentralized oracles
will never happen, you believe in lies
decentralized p2p value transfer is the only reason cryptoCURRENCY was invented.

>>27764716
>>27765088
https://blog.chain.link/using-chainlink-oracles-to-securely-utilize-curve-lp-pools/amp/

they were warned specifically
fucking idiots

>>27759144
so is this why everything eth-related just took a bit of a shit just now?

>>27765258
Im too retarded to understand any of this but I choose to believe this will pump my suicide stack

>>27763326
>https://etherscan.io/tx/0xb094d168dd90fcd0946016b19494a966d3d2c348f57b890410c51425d89166e8
fee.... ($5,384.71) lolz

>>27759448
>PaD scamming
fresh of the boat from reddit

>>27759144
i love it how these degenerate animals all realize that ethereum is a fucking laughable shitshow but everyone is still buying it. greedy fucking morons you will all burn in hell

isnt yearn insured by armor or unn?

>>27763439
>>27763078

did you pajeets forget the word “lending”?

>>27765894
kek, prepare to see how much that is actually worth in practice

>>27759144
LOL shitcoin niggers BTFO

>>27762499
I own no eth killers bro, it's just a piece of shit

>>27759144
I just lost 0.053 YFI

>>27766114
you deserve it. all you fucking animals deserve it. the collapse of this entire scam space cant come sooner. i wanna see you all go live in the street you fucking greedy animals

>>27763326
>>27765258
i envy people who understand this, im so late into crypto theres no hope for me

should have bought milk and shake instead boyzz

>>27762936
Mega bullish for LINK.

>>27766223
DAS RIGHT
MAH MILK SHAKE BRINGS ALL THE BOYS TO THE YARD
YA HEARD?

>>27760359
this is why eth dex's are fucked. atomicdex.io

>>27763222

they essentially spammed a flash loan, a bunch of coin conversions, repaying flash loans, a mixture of all this shit, and forced a bug in the protocols

no shit defi is a scam
all these newfags eating up this "guaranteed" 10% risk free interest are the biggest indicator
theres no free lunch
i hope we crash

>>27766606
Not going to be a defi crash, just altcoin rising for non eth chains

bullish for blockstack

>>27766606
It's a risk you take as a liquidity provider. Staking can provide 5%+ APY

>>27762801
I absolutely agree and would never risk my blue chips for interest. It's just not worth it. Celsius is massive and has insurance....for 100m, last time I checked. Too many smart chinks exploiting spaghetti code. Flash loans are too strong.

buy shitcoins get shit results.

>>27765890
>system operating on windows gets hacked
>lol everyone knows windows is a shitshow and people are still using it burn in hell

this is you

>>27762768
Died half an hour ago: >>27755667

>>27765890
t. Boomer rock enthusiast

>$ALPHA
>@AlphaFinanceLab
> is more than safe from flash loan attacks. Completly implemented into >#AlphaHomoraV2

https://twitter.com/LegitoCrypto/status/1357470270450065408

Tried to tell Anons to buy Alpha multiple times. Not only is it safe from exploits like this it has locked over a billion TVL within days and is starting new loans at a higher rate than AAVE. You are missing AAVE in 2020 right now and no one on /biz/ will listen

>>27765862
Or he just, you know, posts on this board. Crypto has always been pump and dump fest here especially from based pajeet scammers ripping off anyone new that dares to enter.

>>27766685
word
bullish for link though, should be shorting band rn

>>27766606
im 100% in foodcoins anon. get with THE FUCKING PROGRAM

>>27767640
Thanks bro, I wasn't sure what to search for to find it.

>>27767841
Alpha: funds are safiu


>Police cars revolving light 1/ The recent
>@warpfinance
> hack is the result of using vulnerable
>@UniswapProtocol
>Unicorn face LP token prices.

>The attacker was able to drain ~$7.8M worth of $DAI for smaller collateral.

>#AlphaHomoraV2 uses a different LP pricing method that is safe against such attack vector. Down pointing backhand index

>>27759144
>defi is the future

braindead millennial boomers that just want to get rich quick

>>27767957
>PaD
not
>P&D
Go back newfag.

>>27759448
>>27759448
>PaD
hate newfag redditfag summerfags
simple as

new people dont remember defi getting exploited every other day in the summer

>>27768278
france bro

Just shorted it. Its only $150 I don't understand what happened but it doesnt sound good . did i fuck up or should I throw more on the short

>>27759144
does this affect anything but yearn?

Look I just do mobile apps but I dabbled in smart contracts these past few months

The simplier a shitcoin is, the harder it is to exploit. All these advanced defi shitcoins with lending functions, minting, cross chain swaps, etc are prone to 20 different exploits. If you put down a large investment on any defi shitcoin you are beyond retarded and deserve to lose your money. If you develop a token keep it brain dead simple and no one will evee be able to exploit it

You must be new, welcome to crypto

>>27768900
dont know

give it some days, Im long PRQ and shake

im gucci

>>27759144
>DAI
Always problems with this piece of shit

>>27769023
xvs

>>27759144
>guy known for releasing buggy code releases something with buggy code
>oh no all of DeFi is doomed

>>27759144
>>27759195
>>27759270
shit like this is why DeFi is a shitshow, risky AF and not ready for mainstream. See what
Grigore Roșu from Runtime Verification has to say about what DeFi needs going forward:

>https://youtu.be/lj9SlvOIBgU?t=1980
>https://youtu.be/lj9SlvOIBgU?t=1980
>https://youtu.be/lj9SlvOIBgU?t=1980
timestamp 33 minutes zero seconds.

>>27763953
doesn't this mean the hacker got paid and they printed money to replace everybody else's wallets?

>>27762978
I got my CVC.

>>27764328
>>robber comes in your house
>House.
Already fucking up, outstanding performance.

Reminder that fucking erc20 is not decentralised finance and this will keep happening.

>>27769892
Interesting stuff - mind blown. He sounds like he knows his shit.

>>27760134
Doesn't Tether just blacklist those tokens and re-issue? They've done this before.

>>27765170
Yep, actual P2P networks are needed. Fuck this token shit and relying on CEOs with premines. Crypto needs to get utterly fucked so we can drop this centralised bullshit and go back to true decentralisation

>>27769892
Yeah, he does know his shit. He used to work for NASA

Lot of retarded boomers in this thread. Dumb money is here.

>>27770350
Watch a bit of that video the anon posted, about 5 minutes. >>27769892
he addresses the core issue

>>27763953
>DECENTRALIZED FINANCE
fucking kek, what a joke

>>27768363
It's the same wording, pleb.

>>27769553
>gets hacked
>price goes up
wtf?

>>27769913
No, it means they made the hacked tokens useless and replaced everybody else's tokens.

>>27764014
lmao this
defi is a fucking joke, its all centrally controlled.
the only thing that's decentralized is the expenses.

>>27769892
i agree the people behind stratis say the same shit defi is not ready for mainstream their solution is to make it easy as posible but who knows if they capable to do it

https://www.youtube.com/watch?v=18BOr8b6RYQ&t=

>>27759144
>yearn.finance
who? I just hodl my coins

>>27770730
not even the us mint can pull this off.

>>27771022
>What is a snapshot
>What is a hardfork.

>>27771118
Problem is the old contract can still be sold on dexes, so you will have to crash it somehow and alert every CEX to not let deposits in from the old smart contract.

>>27759274
>$25
anon, I...

>>27759396
better than me - i deposited 10k into the dai vault yesterday through okcoin. Literally dai vault gets hacked within 24 hours. Why does this shit happen to me?

Hello to all the reddit newfags in this thread

>>27770730
>>27771118
very immutable
very decentralized

>>27772068
You don’t even understand the hack, friend

See, even Link oracles can fail. This space is doomed.

>>27763029
Yes! Thats me!

>>27772192
Wasn't an oracle exploit, was it?

>>27759144
Bullish

/biz/ is full of retards. Buy XLM now while it's dipping

Fuck whoever said sell yfi now. Apparently this hack doesn't matter. Everything is reversed, now I just have less YFi.

>>27772597
>>27777777

>>27759144
>it's true
CHECKED, OH NONONONONONO

>>27759144
Chainlink solves this problem.

>>27772597
THIS.

WAR XLM!

>>27766748
Truth

>>27759144
lmfao get fucked

>>27772597
I-is 76 enough?

>>27763326
Thirsty ass pajeets in the comments

>>27773311
No. I have over 25k lumens and i don't think it's enough

>>27759144
suicides when?

>>27760302
bullish for ngmi

>>27773660
I fucking hate beggars so much

>>27766441
you shill very poorly.

>t. rubichad

>>27760944
that depends if he crossed his arms in that picture or not

>>27760722
until shaneeqas "efferium stonks doin sum" defi is safu

>>27759144
A dump in what? YFI?

>>27761267
>>Falling for pajeetcoin scams and not buying Rubic
>None of you will ever make it
pot meets kettle

>>27759144
>DUDE LMAO IT'S A PROGRAMMING LANGAUGE THAT RUNS ON THE BLOCK CHAIN
>BUGS? NO IT CAN'T POSSIBLY HAVE BUGS!
>WHAT DO YOU MEAN ALL SOFTWARE HAVE BUGS?
>IT'S BLOCKCHAIN BRO!

>>27774339
Everything is a little red right now, but yes mainly YFI losing half its value.

After YFV got hacked theybuckled up and delivered mre and better - VALUEDeFi

>>27770685
>i-it's the same
except ive never seen it called a PaD over a PnD or a P&D over the 4 years ive been here
its a subtle but important distinction
that guy is a newfag, and so are you for not understanding why it's noteworthy
don't even go back
just kill yourself
wsb trash has never been welcome here

>>27759144
AAHAHAHAHAHAH LINKIES BTFO ORACLE FAILURE

b-but andre-sama is the god of defi...

>buy ETH, it dumps
>buy LINK, it drumps
>buy DeFi, it gets hacked

Sorry I'm doing this to all of you. I'm just really bad luck.

yfi will go back up.

>>27775101
Is this confirmed? Would be big news if so

>>27760134
>could be whole-market loss of confidence.
I hoow you're only talking about the defi pajeetcoin market.

bullish for functional programming

There is an alternative.

>>27766203
same. i don’t know wtf is going but just to buy low and sell high.

>>27760134
3m is nothing, compound lost 100m a month account and no one batted an eye lol
they didnt even fix their shitty centralized oracles because muh pantera faggots cockscuers