DeFinitely 147 – The News in DeFi
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Can a DAO sell 10k ETH without trusting a market maker or getting rekt by sandwich bots? The answer is yes! Just ~15m ago @ENS_DAO sold 10k ETH for $16.226m via @CoWSwap. With a slippage tolerance of 0.5% $80k could have been stolen via MEV but it was fully protected!
1/ @dForcenet was exploited in a flurry of txs on Arbitrum & Optimism (one hack tx: arbiscan.io/tx/0x5db5c2400…), leading to the total gain of ~$3.65m for the exploiter.
PeckShield Inc. @peckshield
Last night, a hacker exploited an external solver and used it to drain the settlement contract, which held 7 days worth of protocol fees.
Users are not affected since we never hold user funds (!)
Neither Cow Swap is affected: The solver's bond will pay for all damages.
A 🧵👇
Experiencing unregulated finance in defi taught me a number of things, all of which lead me to the same conclusion:
Little-to-no regulation is the best model of oversight.
Here's why,
Until next week~