Sidenote (and i am going to be negative on crypto) but the first 10 minutes of this video are pretty wild to me?
They keep saying how this is normal, happens, you will recover, it happened to all of us. Really? 50bilion dollars get hacked and response is "invest more money you will recover".
Then there are multiple crypto ads about protecting your "hard earned money" (wtf whats less hard earned than investing) and about wierd investment tools that will automatically invest into some esoteric assets the host gets stuck reading because even he doesn't know them.
Finally they explain some really complicated mechanism this tech was using. That left me wondering what is this even for?
While looking into this, I also ran into the "DegenBox UST MiM strategy" which allegedly gave 100% returns (until it didn't), but atm I don't understand the mechanism; I think it will make an interesting addendum to the story for the intrepid reader/rabbit hole explorer.
"As the LUNA price continued to plummet, the Chainlink price feed used by the protocols became inaccurate, allowing funds to be borrowed against vastly overpriced LUNA collateral."
They keep saying how this is normal, happens, you will recover, it happened to all of us. Really? 50bilion dollars get hacked and response is "invest more money you will recover".
Then there are multiple crypto ads about protecting your "hard earned money" (wtf whats less hard earned than investing) and about wierd investment tools that will automatically invest into some esoteric assets the host gets stuck reading because even he doesn't know them.
Finally they explain some really complicated mechanism this tech was using. That left me wondering what is this even for?
From outside it all seems quite crazy.