pull down to refresh

58.2 Bitcoin vanished in under two hours on August 12th as Odin.funrekt.news/es/odin-fun-rekt
293 sats \ 5 comments \ @RideandSmile 25 Aug bitcoin
write
preview
related posts
51 sats \ 3 replies \ @SimpleStacker 25 Aug
Hackers pumped worthless SATOSHI tokens through Odin's AMM, artificially inflated prices, then drained real Bitcoin while the founder's PhD-level engineering watched helplessly from the sidelines.
Interesting. I once had the opportunity to go to an academic conference on computational economics, and there were some crypto sessions. One of them had multiple presentations about these AMM algos, and I remember thinking at the time that this is really risky: publishing your buy/sell algorithm is basically asking to get manipulated.
reply
64 sats \ 1 reply \ @SimpleStacker 25 Aug
Although, it looks like his PhD was not in something technical. I didn't even know you could get a PhD in "Instructional Technology".... what kind of phd is that?
PhD in Educational/Instructional Technology from BYU, Co-Founder & CEO of Toniq Labs, Co-Founder & CEO of Bioniq Bitcoin Ordinals marketplace.
Legitimate technical background spanning blockchain development since 2021, with actual products shipped and functioning ecosystems built.
Yet somehow this accomplished developer consistently deploys code that gets exploited by attacks so basic that anonymous DeFi experts mock them publicly.
"Anyone having some knowledge on DEX pools would know this," s0xToolman from Bubblemaps told Decrypt about the August hack. "There's no excuse for the team to not know this could happen." Textbook AMM vulnerabilities that first-year smart contract students learn to avoid.
reply
0 sats \ 0 replies \ @RideandSmile OP 26 Aug
n "Instructional Technology".... what kind of phd is that?
thks for your search
reply
0 sats \ 0 replies \ @RideandSmile OP 26 Aug
the purpose to get more and more and more money ...:(
reply
0 sats \ 0 replies \ @SwapMarket 25 Aug
Let me be their external price oracle: all that crap is worth ZERO!
reply