SIRGAY CALLS OUT MARKET MAKER PSYCHOPATHS WOLVES IN SHEEP CLOTHING (JUMP)

[Anonymous No.54785848]

One of the (defi markets) attacks that I've recently started to witness and see start happening is what I'm calling "the wolf in sheep's clothing attack".

So basically you have a few people who are making oracles now, and they're saying "I'm a nice reliable oracle, you can trust me", but really they are wholly owned by a trading firm or a hedge fund, a private trader themselves.

>(hi Jump/Pyth and acolytes like Wintermute, Jane Street, etc. and of course SBF was behind it, look up his leaked balance sheet; see also Jump's wormhole and how they bailed out a $320M bridge hack)

And they're saying "I'm a nice reliable oracle, please let me completely control your market, I'm nothing like the FTX Alameda scam, nothing like that here, I'm such a nice guy".

But then it turns out that the nice guy is a psychopath who only wants to steal money from the protocol.

This is actually how commodity traders do this in larger markets. They've done it in various commodity trading settings and various forex settings and they continue to do it today. And there's many many cases of it (front-running).

A recent examples are where traders, hedge funds, market makers... gathered around places like the Chicago mercantile exchange and basically manipulate commodity and forex prices, which actually affect all of us. Because commodity and forex prices determine what the goods we consume cost and what we pay for those goods. So the problem is essentially a market manipulation problem. That's really often a data manipulation problem because markets are driven by data.

What's important is that users understand the attacks and make sure that the protocols that they're using are actually conflict of interest free. Because the more money you put into a protocol that some psychopath hedge fund market maker trader can steal from, the harder that protocol might fail, which will be bad for all of us. Plus the more money you would lose, which, I don't know, it's your money.

>(hi SNX)

[Anonymous No.54785851]

We actually have to be educated about (how data is controlled) in order to demand that the (defi) systems that get built aren't these replicas of the traditional financial system that make a few people rich but make the rest of us have to explain why we replicated the FTX Alameda thing within our industry.

Everybody has to be informed about (architecture) and make sure that the systems they're putting their money into are actually running in a way where no third party can go trade against them and steal their money.

(At Chainlink), we have no plans, systems or ways to go and trade against anybody. (Unlikess Jump/Pyth, the MEV mafia and so on)

That'll actually make the whole ecosystem better, and if we do this we have this great outcome where (defi) would be able to be the alternative. So do we go from this world where you have one and a half to two trillion dollars in crypto value... just to replicate the existing financial system to shave the same sheep a different way? Is that really how we're going to get to an industry with hundreds of trillions of dollars in it? I don't think so. I don't actually want to do that.

The only way we're going to get to a world where there's hundreds of trillions of dollars in our industry is (if we are a conflict free alternative).

Do we replicate the existing financial system where people with certain advantages and certain predatory instincts are able to lie to us, and through our protocols steal from users, make money, get caught? Or do we create an alternative to conflicts of interest and really build something extremely useful and important for how the world changes? If you haven't guessed, that's what I'm trying to do.

So please be aware of the security guarantees of the protocols that you're using. Please be aware of how they're secured, of where the data is coming from and of how that system is working. Because your decisions about what systems to use will also inform how this industry evolves.

[Anonymous No.54785858]

Educate yourself on the Jump menace:

https://www.tradersmagazine.com/departments/brokerage/dont-tell-anybody-about-this-story-on-hft-power-jump-trading/

[Anonymous No.54786043]

This thread gay.

[Anonymous No.54787122]

>>54786043
this. what a shitty thread

[Anonymous No.54787165]

How does any of this make price go up? Oh it doesnt? Shut the fuck up then

[Anonymous No.54788662]

>>54786043
>>54787122
>>54787165

Yas sir ver gay thread is int it

[Anonymous No.54788796]

>>54785848
You should report jump crypto to the SEC. Remember how nexo was raided by the FBI? That was due to anons sending anonymous tips. We used to have a private discord where we organized the simultaneous tips

You can send a tip here
https://www.sec.gov/tcr

It doesn’t matter if jump is not in the US, if there’s even a remote possibility of them affecting us citizens financially, they’ll get massively fucked kek

[Anonymous No.54790030]

>>54788796
They are in the US.

>An exodus of employees to Jump from Citadel was the subject of a clash between billionaire Ken Griffins Chicago hedge-fund firm and Jump in 2012. Citadel said former workers may have taken proprietary trading strategies and computer code worth hundreds of millions of dollars to Jump.

I wonder if those employees reproduced the same market manipulation schemes from their previous work...

[Anonymous No.54790161]

Pay up narrative didn't gain traction huh?

[Anonymous No.54791568]

>>54788662
Sorry Primal, I'm not buying your cuckold token

[Anonymous No.54791632]

>>54790161
nope, so now a new boogeyman was invented
I suspect this jump trading meme will last until EOY, and then they'll pivot again to some new cope narrative

[Anonymous No.54791633]

friendly reminder that JUMP TRADING is behind both the blatantly scammy btc dumps to suppress price and the 24/7 FUD campaign on both biz and twitter. this is how they choose to spend their vast resources. these are the parasitic organizations that we will inevitably be purging from the world.

also congrats to SNX for having abysmal foresight and getting suckered into a wolf in sheep's clothing attack.

[Anonymous No.54791641]

>>54791632
the new cuckold cope is that Bulgarians and Pajeets are coordinating themselves to suppress LINK.

It would be sad if it wasn't so fucking hilarious