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/biz/ - Business & Finance

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24296006 No.24296006 [Reply] [Original]

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

https://decrypt.co/49657/oracle-exploit-sees-100-million-liquidated-on-compound

>> No.24296038

OOOOOOOOOOOOOOH STINKIESSSSS

>> No.24296055

>>24296006
profit how
I already have a bag of link

>> No.24296070

>>24296055
get another

>> No.24296106

Wow. Holy shit. How many horror stories does there need to be before everyone bends the knee?

>> No.24296110
File: 410 KB, 667x503, 63d7b6b8ef9f0d5a08b3f53b5f22d8da.png [View same] [iqdb] [saucenao] [google]
24296110

Three years and still they do not move

>> No.24296118

>>24296006
Holy shit, the amount of JUST

>> No.24296124

>>24296038
they didnt use link hence failure

>> No.24296146
File: 34 KB, 292x404, 1540217170161.jpg [View same] [iqdb] [saucenao] [google]
24296146

>>24296006
HAHAAHHAHA
ChainLink wins again.

>> No.24296174
File: 76 KB, 420x432, 1588631469876.webm [View same] [iqdb] [saucenao] [google]
24296174

>In March, Compound saw $2.5 million in value liquidated, which was a record at the time. Now that pales in comparison.

>> No.24296175

>>24296006
https://twitter.com/compoundfinance
https://twitter.com/rleshner

Think they'll actually acknowledge this?

>> No.24296232
File: 82 KB, 662x234, 1597028131707.jpg [View same] [iqdb] [saucenao] [google]
24296232

Pantera is behind the API3 seed
And Leshner was tweeting about them yesterday
Disgusting!
Even more deserving of his justing

>> No.24296287
File: 769 KB, 3218x1858, lmao bzx dex exploit hack solved by chainlink.jpg [View same] [iqdb] [saucenao] [google]
24296287

How many times does this have to happen?

>> No.24296298

>>24296006
This is nice for Link and all, but sooner or later Link will be hit with similar stories. It will always happen to an extent but there will be proper insurance to hedge against it with LINK and it’s whole framework that is superior to everything else

>> No.24296313
File: 139 KB, 1287x521, value defi attack hack exploit chainlink.png [View same] [iqdb] [saucenao] [google]
24296313

How many more innocent victims?

>> No.24296336
File: 184 KB, 605x794, harvest finance farm oracle exploit attack hack price feed.png [View same] [iqdb] [saucenao] [google]
24296336

How many cries in the dark?

>> No.24296346

does this mean that compound has RIP for good?

>> No.24296372
File: 245 KB, 1676x667, makerdao oracles failure.png [View same] [iqdb] [saucenao] [google]
24296372

How many more souls must be lost?

>> No.24296400

>>24296006
LMAO, how long til they bend the knee?

>> No.24296481

why did the price spike

>> No.24296568

>>24296481
>It appears that a malicious actor may have manipulated the price of DAI on the Coinbase Pro exchange, in order to trick the blockchain—via its oracles—into thinking that the current price of DAI really had shot up.
https://decrypt.co/49657/oracle-exploit-sees-100-million-liquidated-on-compound

When you only use one price feed oracle, attacking it is child's play.

>> No.24296594

>>24296038
Retard

>> No.24296721

>>24296568
How do people now understand this yet? It's so fucking simple.

>> No.24296750

>>24296721
I'm guessing it's ego.

>> No.24296800

>>24296006
You either bend the knee or live long enough to get bent.

>> No.24296859
File: 231 KB, 960x720, 4D204FF7-A88A-4EBF-9CEA-9FE70235AE4A.jpg [View same] [iqdb] [saucenao] [google]
24296859

wut happin?

>> No.24296911

Almost 100m
Article says they have +1b locked
That's like 10% of total user funds rekt

>> No.24297082

>>24296721
Its a combination of not understanding/simplistic view that its so laughably easy for some one to exploit. This is tbe second failure of a pricing oracle on a couple weeks that resulted in millions, yfv had same thing happen...

>> No.24297147

So the tl,dr; is they never bent the knee?

>> No.24297177

>>24296038
Based retard

>> No.24297208

Too bad they don't have Kleros court to adjudicate.

>> No.24297315

>>24297147
They may never bend the knee.

They've been too proud to use Chainlink for all this time, so being proven wrong in such a direct and blatant fashion may only cause them to double down.

>> No.24297481

>>24297315
Acting on emtions is a sure way to lose. If anything, they could gain a lot of support if they wen with Chainlink besides the momentary ego loss that will disappear rather quickly

>> No.24298043
File: 111 KB, 514x476, SmartSelect_20201126-105206_Samsung Internet.jpg [View same] [iqdb] [saucenao] [google]
24298043

total humiliation for leshner. utter failure and ruin. the only path to redemption is chainlink

>> No.24298188

so this is what the 700k and 1MM dumps go toward

>> No.24298310

>>24297315
How much if anything would compound bending to integrate CL oracles pump CL from usage?

>> No.24298382

>>24296232
Leshner was (wrongly) shitting on API3 not supporting them. Link marines have bad reading comprehension.

>> No.24298394

>>24296006
This is getting ludicrous.
If these projects are too stubborn to use chainlink oracles, just don't use their platform.

>> No.24298416

>>24298310
literally nothing. the usd price feeds are a public good at this point

>> No.24298448

>>24296174
DAMN that rareSergey is HOT

>> No.24298466
File: 540 KB, 1080x1721, SmartSelect_20201126-110957_Twitter.jpg [View same] [iqdb] [saucenao] [google]
24298466

dumb faggot from augur is eating shit today

>> No.24298497

Noo this crashes my 4$ COMP on coinbase!! But seriously though, chainlink will rule (even more) the oracle world in no time.

>> No.24298507

>>24298310
not much more usage desu but it further cements chainlink within the ecosystem. getting compound would be a big coup.

>> No.24298516
File: 45 KB, 700x491, a6bpo79_700b.jpg [View same] [iqdb] [saucenao] [google]
24298516

>>24296038
when you forget you're retarded.

>> No.24298528
File: 10 KB, 251x242, 8ABCF548-F250-426B-8058-FA6DC79F1D19.jpg [View same] [iqdb] [saucenao] [google]
24298528

Rekt. BEND THE KNEE

>> No.24298571

i dont get what happin?
-single digit IQ

>> No.24298677
File: 66 KB, 522x644, 71bBBhADNcL._AC_SX522_.jpg [View same] [iqdb] [saucenao] [google]
24298677

>>24296232
Fuck yeah brother

>> No.24298678
File: 18 KB, 739x568, 103921-full.png [View same] [iqdb] [saucenao] [google]
24298678

So its better to buy DIA or API3 ?

>> No.24298783
File: 548 KB, 728x665, 5E05BF48-0EEE-4363-A005-092F6D0AF7B3.png [View same] [iqdb] [saucenao] [google]
24298783

>>24296006
How does ChainLinkGod keep getting away with this?

>> No.24298933

>>24296568
only 7m was needed to pump DAI to 1.30 kek

>> No.24299178

>>24298310
Isnt staking and collateral the only thing the token will be used for? Pretty far away unfortunately

>> No.24299642
File: 110 KB, 1157x765, t-systems paid in Link tokens deutsche telekom t-mobile.png [View same] [iqdb] [saucenao] [google]
24299642

>>24298416
>>24298507
>>24299178
You people are absolutely clueless.

>> No.24299697

>>24298310
Compound would be a massive new user for Chainlink, the effect would be considerable.

>> No.24299795

>>24296038
Nolinkers are literal retards. Who'dve think?

>> No.24299881

>>24299642
i said usage retard

>> No.24300117

>>24299178
Yes, staking within a node. Out of hundreds of nodes. Each supplying a different source of information even if it’s the same information (5 different prices of ETH across 5 different dexes/cexes). To not fuck up and lose millions like the plenty retards that run these defi loan sites then you must pay the oracle operators a fee to get a price for ETH. And that fee is some link. Buy now and pump my bags further

>> No.24300570
File: 102 KB, 300x256, 084.png [View same] [iqdb] [saucenao] [google]
24300570

So besides bad publicity this doesn't have any effect right? Did these people actually lose money or will compound give it back?

>> No.24300807
File: 200 KB, 1918x1832, comp liq volume.jpg [View same] [iqdb] [saucenao] [google]
24300807

>>24300570
yes, that's correct. $90 million worth of liquidations has no effect on anybody or anything

>> No.24301433

Chainlink is suspiciously quiet on Twitter today, Im guessing Sergey is on the phone to Leshner right now, probably finalizing the wording of his concession tweet. Knee status: bent

>> No.24301504

>>24301433
Doubt leshner will he gives me the cocky know it all type vibe and his ego is too big

>> No.24301513

>>24300807
Liquidation means the money goes to compound?

>> No.24301585

Many such cases, sad!

>> No.24301638

>>24301513
liquidation means your money is gone and im sorry anon but my hands are tied! blame the (((oracles))) not me i just offer the position!

>> No.24301934

>>24301638
Who gets the money though? If it's Compound that suggests that they may have drove up the price of DAI on Coinbase themselves

>> No.24302145

>>24296372
your pic directly contradicts itself, as it states in the article that slower updates reduced liquidations, which means using link would lead to bigger losses

>> No.24302222
File: 1.08 MB, 1483x2048, Screenshot_20201126-212704.png [View same] [iqdb] [saucenao] [google]
24302222

>>24301504
This

>> No.24302326

>>24296038
They lost money because they DID NOT use Chainlink, you retard.

>> No.24302327

>>24301934
If you're getting liquidated that implies you borrowed the money from somewhere to gamble with it. Don't they borrow from compound in order to gamble? In that case, it would be stupid to get the marketing disaster on your brand and get no money from it.

>> No.24302328

>>24302222
You should expect nothing less from a coin clipper. His chutzpah is boundless.

>> No.24302380

>>24296174
hahaha

>> No.24302448

>>24302222
Checked and lmao

>> No.24302536
File: 147 KB, 498x621, 1594545300768.png [View same] [iqdb] [saucenao] [google]
24302536

>>24302222
checked and rekt

>> No.24302571

Leshner has an ego and a half, sorry to see this for users but he was warned time and time again

>> No.24302592

>>24302145
>slower updates reduced liquidations
>which means using link would lead to bigger losses
Woah nice logic there fren, I'm sold just dumped 100k.

>> No.24302787

Buy the COMP dip, idiots.

>> No.24303060

Also I know the team banned "bend the knee" but..

>> No.24303376

>>24301934
Cant someone bid on liquidated ETH? or is that Maker only?

>> No.24303402
File: 8 KB, 367x401, 1524641086728.png [View same] [iqdb] [saucenao] [google]
24303402

>>24296038

>> No.24303415
File: 138 KB, 630x430, 1587868956171.jpg [View same] [iqdb] [saucenao] [google]
24303415

>>24296006
>who must go?
SOMEONE MAKE A SERGEY EDIT

>> No.24303445

>>24296006
What’s Joey’s problem anyway

>> No.24303787

>>24299881
Every api call for every feed costs LINK. Big nodes are making $50-$120k per month in LINK

>> No.24303811

>>24298783
ChainlinkGod is the haxxor

>> No.24303834

>>24303787
And those are the ones who are constantly dumping the price

>> No.24303893

>>24303811
CLG can't keep getting away with this. Heard he's also behind Zeus Capital?

>> No.24304024
File: 99 KB, 639x960, dcclj29a727c76d7fff46469595ab70d276cc03.jpg [View same] [iqdb] [saucenao] [google]
24304024

>>24303893
ChainlinkGod is probably too stupid to figure out something like this lmao

>> No.24304159

>>24298466
>Krug
Every time

>> No.24304341
File: 1.45 MB, 1280x999, image.png [View same] [iqdb] [saucenao] [google]
24304341

>> No.24304343

>>24304024
no way CLG knows all about oracles and defi. He wrote the infographic for getting sick gains

>> No.24304356

this whole defi shit and this thing is a complete shitshow. we need regulations like in the modern stock echanges to stop this wild west of scams operating.

unironically this is bullish for XRP. hope in the future theres real exchange for fxrp tokens and wild west of chink casinos.

>> No.24304578

>>24301934
dude learn how this shit works, you can literally go and liquidate people yourself.
The twitched dai price let people liquidate other's contracts for free money

>> No.24304614

>>24296038
Just came here to add to the numerous replies pointing out you’re retarded. Enjoy your day, retard.

>> No.24304616

>>24303834
What happens when link becomes scarce?

>> No.24304670

>>24304616
Sergey will dump more

>> No.24304685

>>24300807
Holy shit the graphical representation is hilarious

>> No.24304737

>>24296006
>typical ETH dapps
the thread

>> No.24304837

>>24304341
>it’s not the protocols fault we use a single central price oracle

>> No.24304969

>>24304356
no, you're a faggot whos too stupid to understand what works and what doesn't and are looking for daddy government to come figure it out for you while in the process destroying any fucking potential apy

>> No.24305205

>>24304341
The man's retardation is boundless

>> No.24305315

>>24296006
Chainlink is modern day Robin Hood
Taking from the rich giving to the poor

>> No.24305471
File: 55 KB, 600x460, 1594929378920.jpg [View same] [iqdb] [saucenao] [google]
24305471

>>24300807
The fact that this smug retard has to admit he was wrong is gonna be the best part. What if he picks Band out of spite and it happens again

>> No.24305522
File: 574 KB, 634x517, 1528483733747.png [View same] [iqdb] [saucenao] [google]
24305522

>>24296038
hahahahahahahaha look at this drooling retard! looks like mommy forgot to put on his helmet before he posted on the internet

>> No.24305536

>>24296006
How funny would it be if Ari and co were targeting the competition with these exploits to show off that chainlink is simply better.

>> No.24306329
File: 1.84 MB, 2000x2000, 1561332462856.png [View same] [iqdb] [saucenao] [google]
24306329

THEY SHALL BEND THE KNEE!

>> No.24306384
File: 167 KB, 675x634, 1605574071762.jpg [View same] [iqdb] [saucenao] [google]
24306384

>>24305536
Well actually...

>> No.24306407

>>24299697
Hi clg

>> No.24306542
File: 337 KB, 833x925, Sergey chad.jpg [View same] [iqdb] [saucenao] [google]
24306542

>>24296006
>>24296038
Uh!

>> No.24306888

>>24296038
I didn't know you were a retard cause I only half read the OP but then I went back after everyone calling you a retard and found out they were right and you're a retard

>> No.24308129

Why does ChainlinkGod keep hacking defi solutions that don't use link. It's almost as if ChainlinkGod knows about Chainlink and is a post mainnet OG

>> No.24308448
File: 41 KB, 800x696, _91408619_55df76d5-2245-41c1-8031-07a4da3f313f.jpg [View same] [iqdb] [saucenao] [google]
24308448

I don't know what any of this shit means.

I just own these links because the tech seems really cool.

>> No.24308506
File: 48 KB, 500x400, l.jpg [View same] [iqdb] [saucenao] [google]
24308506

>>24308448
That's all information needed to buy ChainLinks.

>> No.24308986

>>24296336
>>24296006
One of these days Aave will be sued for ever creating flash loans in the first place.

What the fuck is even the point of a flash loan but to abuse it? borrowed money has to be returned in a few blocks time? the fuck, not even 1 day-7 days.
Imagine if flash loans were used for riding BTC pumps and dumps, but for fucks sake a few blocks? that's less than a minute.
You absolutely need to use bots and other automatic software to even utilize flash loans properly.

God damnit. BTW did these scammers/hackers manage to ever cash out their gains?

>> No.24309112

>>24296038
fpbp checked based /thread fuck dumb linkies ill short it to 0

>> No.24309587

>>24300807
what site is this please?

>> No.24309900

>>24301433
Checked.

>> No.24310557

>>24309900
doubly, doubly checked. ready for submission.

>> No.24311358

so who gets the money when it's liquidated? doesn't it belong to compound? (newb here)

>> No.24312182

>>24311358
Yeah but nobody would use that platform again

>> No.24312250

>>24296038
m o u t h b r e a t h e r