>exploiting a pricing flaw that valued collateral using Binance’s own order-book data instead of external oracles
>>61097492Dude, even AAVE suffered from Chainlink oracles delay. Much more liquidations would've triggered. Shut your stupid mouth.
>>61097492>Chainlink solves this
>>61097492>>61097506>>61097517source: dude trust me this is why we need an erc20 shitcoinfuck off
>trump considering pardoning cz>obvious trump insider opens short on hyperliquid, rival of binance>binance triggers sell-off and market contagion timed with trump tweetthere needs to be a criminal investigation
>>61097506Are you fucking retarded? Aave worked flawlessly.Binance did not.
>>61097506>>61097545
>>61097531This kind of thing has been happening for millennia and you're still bitching about trump instead of trying to make money.
>>61097517>>61097526>"just use your own oracle bro">crash and burneverysingletime
>>61097559t. disinfo bot
>>61097559Binance left that flawed internal oracle system in place on purpose, so the market would absolutely dunk and they can buy at -90% while keeping others out due to "technical difficulties".At this point whenever something isn't using Chainlink, just straight up assume it's malice.
>>61097492Fuck you link nigger fucks. I bought into your bullshit hype and lost twenty fucking thousand. Fucking jeet coin.
>>61097673>I bought into your bullshit hype and lost twenty fucking thousand.People just lost many billions due to a lack of Chainlink in a critical piece of infrastructure.Sit down.
>>61097526>>61097545>>61097552>However, the event temporarily impacted oracle performance, with the price updates delayed by 5 blocks for some markets.https://governance.aave.com/t/chaos-labs-risk-report-insights-from-recent-market-events-10-11-25/23248SHUT THE FUCK UP
In this case, it should be in Binance to reverse the liquidations and revive anybody who killed themselves.
an oracle with delays is useless, finally something for the hundreds of chainlink employees to work on and fix
>>61097492I don't understand anything, but if somebody wrote a post that long it must be true.
>>61097715You can't seriously be advocating for necromancy!
Im gettng srs EOY ATH vibes, easily $100 by January. Just trust the plan, linkfrens! $30? NOPE! $60? NOPE! $120? NOPE NOPE NOPEYOU WILL NEVER EVER GET MY LINKIES FROM ME EVEREVER EVERI WILL KEEP HODLING WITH MYCOLDDEADDIAMONDHANDSFOREVER EVERHODL THE LINE, MARINES! HODDDDDLLLLLLLLLLLLL!!!WHERE WE LINK ONEWE LINK ALLIN SERGEY WE TRUST
>>61097570Please touch grass, lift a weight or read one book in your life. It's time for you to take a break from the internet.
>>61097714>Overall, the flash crash resulted in approximately ~$500k in bad debt and expected deficit, primarily driven by illiquid CRV and ENS positions and SVR oracle delays. While this represents a moderate negative outcome, it was offset by liquidation activity that generated around $1 million in liquidation fees and an additional $1 million from SVR liquidations.>The protocol remained overall net positive, with an estimated net profit of $1.5 million following the event.Woah... catastrophic. You're right, the configuration Binance had was clearly superior. You really put those anons in their place. Here, let me give you a recommendation: kys.
What this shows is that digital "currencies" are a failure. There will always be too many weak links putting the entire digital infrastructure at risk. BILLIONS OF DOLLARS LOST instantly because a fucking bug or design flaw.The only reason institutions are in is because they can scam money from ETFs. There is no way anybody is going to rely seriously on any of this garbage. This may as well have been le quantum computer cracking. It's over. This was not just some hackers getting access and transferring funds from wallets. This was someonebwith enough funds using these systems as they are designed to take your money. Don't hate the player. Hate the game.
Braindead advertising thread. If you can afford to dump the price on the largest exchange you can afford the extra 30 mil to tank the price evenly across all exchanges.
>>61097714This is specifically about SVR revenue, not the collateral liquidations. Any "losses" here are losses for the Aave DAO, not Aave users.That's why Aave SVR has such a conservative infrastructure; essentially they're willing to lose some revenue if things go really bad.The Aave marketplace saw $180 million in collateral liquidated from actual users simply due to correctly communicated falling prices, which happened completely and utterly flawlessly.Unlike the collateral on Binance which showed massively incorrect collateral pricing, causing a collateral liquidation cascade.
>>61097776>If you can afford to dump the price on the largest exchange you can afford the extra 30 mil to tank the price evenly across all exchanges.Absolutely braindead talk
>>61097531there can't be a criminal investigation because manipulating these markets is LEGAL as in there are no laws against itTrump can freely manipulate your tulip market without any legal consequences whatsoever since this isn't SEC regulated
>>61097831>>61097837Not an argument, sorry shill. You can dump the price on these other exchanges too to bring these “mispriced tokens” down to the same level as the binance order book was at, your useless token does not have the power to prevent dumps all together.
>>61097854>commodities aren't regulated because there's no SECMore retardo takes.>>61097857>You can dump the price on these other exchanges too to bring these “mispriced tokens” down to the same level as the binance order book was atAll the other exchanges don't use Binance's retarded self-reporting oracle loop.
>>61097881>all the other exchanges don’t use binances retarded self reporting loopHence why once again if you can afford to dump binances book you can afford to pay extra money to dump the price across all exchanges. Not here to debate you linktard, just here to let you know this thread is a cope advertisement :)
coincidence that fuddies have brown id? I think not.
>>61097911>>61097881>>61097837I’m sorry about the hole in your brain, chainlink is not needed and it costs MAYBE an extra 35-40% of this attack to dump every other exchange and get “muh hecking oracle consensus”.
>>61097911>>61097925If there are other major exchanges where you can do this exact same exploit of their in-house oracle, that only makes using an external oracle even more of a must.You realize that right?Exploiting the price of an asset on a single exchange will always be inherently easier than manipulating the price of a highly liquid asset across ALL exchanges.
>>61097971>it will always be easier than manipulating it across all exchangesSure, but that’s not what happened, the largest most liquid exchange in the world with 5x the volume of the next exchange had coins dumped to cause liquidation cascades and you link shills are using it as an excuse to pretend oracles would have done shit about fuck. Adding 30m to this attack to dump other exchanges to the same price is a fucking sneeze. Your OP literally gives $30m as the attack range.
>>61097971>Exploiting the price of an asset on a single exchange will always be inherently easier than manipulating the price of a highly liquid asset across ALL exchangesthis thread literally PROVES that manipulating Chainlink brand LINK oracles is still the easiest course of action for ANY blackswan type event. You can SEETHE. You can COPE. But when will YOU face facts anon? Time and time again Chainlink is still the weakest LINK
>>61097997>nd you link shills are using it as an excuse to pretend oracles would have done shit about fuckIt unironically would have.Because those collateral assets were still correctly priced wherever the exploit did not happen.>>61098035>an in-house oracle was manipulated>this proves Chainlink is easily manipulatedPeak top jej
>>61098076>because those collateral assets were still correctly priced when the exploit did happenAgain because they didn’t need to, although at this point I think you’re just being willfully ignorant to keep your advertising thread going.This does bring up a great price though, why weren’t the oracles reporting the price of the exchange with the majority of volume? You seem to be implying you could 51% attack your oracles by using less money and attacking the majority of low volume exchanges instead. Just a real great technology you got there, I’m sure binance is so sad they’re such a large exchange they can’t buy technology like oracles that allows for exploiting them cheaper.
>>61098156>because they didn’t need toLiterally what
How many influencers in this space could tell you what market coverage is and why it's important?>wherein a price point represents a refined aggregate of all trading environments as opposed to a single exchange or even small group of exchanges so as to prevent data manipulation vulnerabilities and/or volume shift inaccuracies.
>>61098189>literally whatYou’re welcome to open your eyes and read the thread. They attacked the largest exchange in the world with multiples of volume over the next one, is the premises of the thread. They didn’t need to also dump the price of lesser volume exchanges to make a profit.
>>61098199Wow that’s wonderful, how about your next screencap is one that shows what the aggregate cost would be to bring the majority of exchanges down to the same price as Binance was :)
>>61098203>They didn’t need to also dump the price of lesser volume exchanges to make a profit.If all exchanges used Chainlink, they would have needed to though.
>>61098242Yes they would have, which again would have costed 35-40% being very generous and assuming no further drag on other exchanges prices. I noticed you side stepped my question on the volume. Why do you think chainlink is not including volume into their price feeds? Do you think binance should adopt oracles if they make it cheaper to attack them?
>>61098265>which again would have costed 35-40%Other exchanges for instance use more robust oracles that aren't as easily manipulated.Binance themselves were set to transition to a slightly better oracle for these specific assets, they announced it on October 6.Aave, Synthetix, Maker even use Chainlink's USDe feed, which is by far the most robust (see pic in my previous post).
>>61098305Very sad, non quantifiable answers, the oracles were “manipulated” by people spending money to validly short or sell coins.ITT anon pretends chainlink is magic that can stop people selling, and inadvertently points out if Binance adopts oracles you can just attack low volume exchanges to crash the price. Very sad, certainly this 20 billion dollar coin is not a grift though I’m sure :)
I think I broke the chatbot kek
>>61098343Extreme sad, anon can only resort to shitposting when you point out the logical fallacies in his shitcoin narrative. “Truth over trust, unless you point out fundamental problems with our proposed tech then get fucked”
>>61098221It was $60-90 million according to OP's post.
>>61098378Yes, and how much would need to be spent on other exchanges to force a “consensus” price.
>>61098387You do not understand how any of this works.
>>61098531Very cool, then please explain. I’ll wait, because currently this thread is implying chainlink is magic and can stop dumps :)
>>61098363>fundamental problems with our proposed techNoAave could have requested feeds with more node operators and faster post frequency, or use multiple Chainlink feeds as primary / fallbackMORE link usage would have unironically fixed thisYou're gonna cope, seethe, and double down now ofc because you're just a dumb animal running off a script
>>61098812>we could have had more feedsAgain that would cost fractions of attacking the most liquid exchanges order book to create consensus >more chainlink feedsAgain that would cost fractions of attacking the most liquid exchanges order book to create consensus >You're gonna cope, seethe, and double down now ofc because you're just a dumb animal running off a scriptvery rich coming from the shills using every trick in the book to make people think chainlink fixes the problem of people dumping coins kek!
>>61098864I never said that chainlink would stop people from dumping their cryptos? That's not the purpose of an oracle and you have absolutely no idea what you're talking about, you retarded cunt.
>>61099018That’s the exact basis of the OP post and the exact point you’re making saying this was preventable by chainlink. I’m sure you don’t care though, as long as the chainlink slop keeps getting bumped right advocates :)
>>61099109That isn't the basis of what is being said in the OP either. Go on, change your ID again and double down to pretend otherwise you worthless subhuman.
>>61099109this is the best they got left, zero intelligencenobody ever said chainlink oracles can stop a whale from dumping his stackthis is about exploiting a platforms weakness to cause a liquidation cascade of forced selling because of a faulty depeg on collateral
>>61099130>that’s notIt is. I’m sorry you’re illiterate, you’re welcome to go back and read the other 10 posts that dismantled these shit talking points. Not that you’ll bother to, as DYOR apparently only applies to non-linkies.>change your IDOne day Africa will get mobile phones and you’ll understand :)
>>61099178>faulty depeg on collateralLies, post said the fault was using binances order book, not multiple like link feeds as OP said. Very bearish for link, your reading comprehension of the cult is sub human
>>61097997Where are you getting the $30million number to dump every other exchange?
>>61099298Taking the $60-90 million outlined in OP, and then calculating the prorata amount of that money needed to match the volume needed to get to 50% of the crypto market based on the 2022 volume graph I posted.
>>61099208>>61099233>Go on, change your ID again and double down to pretend otherwise you worthless subhuman.Called it
>>61099347Is owning a phone a prerequisite for understanding the Chainlink grift? I feel so bad for you anon, so poor, chained to a desktop all day.
>>61099376i hope you're being obtuse on purpose
>>61097854bribery is not legal, little retard bot
>>61099388It just gives me the warm and fuzzies knowing I can save any anon with an IQ over 100 from wasting braincells working out the faulty logic underpinning this chainlink advertisement when they read the thread.
>>61097492>Chainlink would have prevented Friday's crashCorrect. It will also prevent linkies from making gainz as well.
why can't link just fucking moon to $1000 already im sick of this shit
>>61099442In due time, in due time uhh... Jokeman is it?
>>61099376>Well uhhh... if you notice that I'm changing ids 10 times in a single thread it's because you're POOR and don't own a phone obviouslyFunny how I'm posting from my phone right now and don't need to change IDs by toggling airplane mode every 2 seconds.But I guess that's the kind of behavior that would be happening if you were one of the usual fulltime fudcucks sitting there samefagging in other threads all day, while being too much of a retarded nigger to understand how obvious you look doing it.
>>61097545>Are you fucking retarded?thought on Houdiniswap leading the next privacy wave anonfag?
>>61099442I'd take $500 at this point. I wouldn't have "fuck you" money, but I could at least breathe financially without feeling so trapped in the rat race.
Binance shills are so fucking astroturfed and cringe, they have tried shilling on this board since 2019 and have failed miserably every single time.
>>61099604>I'd take>at this pointbro, $500 is a 10x from our previous ATHthe opportunity of cost of this coin on the people that learned about it here should be studied
>>61099667Exactly, this is one of my worst performing holdings, meaning it would need an insane run to justify the years of crabbing and dumping. I've gotten much safer x3s and x4s from BTC and ETH in the past year, there's zero reason to hold alts if those are the kind of gains you're expecting. You can only justify holding a piece of shit altcoin if you treat it like a ticket to possibly x20-x100 your investment.
>>61099505Paragraph posting to explain you can’t possibly understand how places with multiple carriers function. This is sad anon, reduced to (unsuccessfully) arguing telecom because you get your asshole pushed in taking about actual market related topics.
>>61097831>The Aave marketplace saw $180 million in collateral liquidated from actual users simply due to correctly communicated falling prices, which happened completely and utterly flawlesslyOne might argue that aave should have reacted to sudden massive price movement by not liquidating its users.
>>61099792>well uh... it's because I have multiple carriers... that's it... you wouldn't get itNah.You got caught out toggling airplane mode to switch IDs, probably to pretend to be multiple people in another thread, which is SOP for brownoid fudcucksFunny how you stopped having "multiple carrier" issues after I pointed that out.You couldn't even effectively argue your original bs about how link worked in all of this so you're a retard as well as a liar. There's nothing more to be said other than kys.
>>61099505but you HAVE changed your id multiple times already ITT, and this is what you generally dolinkies can't stop lying and projecting
>>61097997You’re actually retarded. Amazing.
>>61099505They are fucking ridiculous. I can see how they work on the untrained or newfag eye though.
>>61099914Aanndd they will abandon this thread now and start 20 more fud threads. It feels good to be right about Chainlink
>>61097997>the largest most liquid exchange in the world with 5x the volume of the next exchangeLiquidity != Volume, Uniswap and Curve have more liquidity than Binance but way less volume due to much higher fee structures.
>>61101427It'll be interesting to find out more about these rats and their identities after the singularity. A lot of them will get sold out by their handlers and "colleagues." If the ones that have been looked into so far are anything to go by, they'll all be bottom of the barrel non-White garbage.
>>61101172>y-you changed your IDNope. Now you're a even more of a projecting, lying retard than before.So what's next? You gonna double down on being a stupid nigger here? Or are you gonna go make 6 more fud spam threads that you'll samefag in to keep alive?
>>61097776>If you can afford to dump the price on the largest exchange you can afford the extra 30 mil to tank the price evenly across all exchanges.So basically you're saying Chainlink would've made the attack a lot harder and way more expensive.
>>61097492>external (woah fancy word) oracles cant be exploited
>>61102273Even fuddies agree that it would be a lot harder and more costly.
>Samefagging eastern euro phoneposting shill accusing others of samefagging go make 2 more BNB seethe threads, fish
>>61102298I just love how fuddie Link lore is like 1000x deeper and wider than regular holder Link lore.What a shitty existence you must lead to spend every waking moment of your day obsessing over a coin you hate.
>>61102303I document these events so people will believe me in the future
>eastern euro thirdie continues to swap ids like a maniac
>>61099864Aave users knew what they signed up forIf Chainlink oracles say that price is something then it is exactly that
>>61099864>One might argue that aave should have reacted to sudden massive price movement by not liquidating its users.This is a joke right?Right?>go to casino>bet it all on black at roulette>it's red>"One might argue that the casino should have reacted to the red outcome by not taking the better's money">>61102325It's not even that bro.>>61102320These people definitely deserve to be studied, holy shit.
>>61102324why the fuck would someone from eastern europe hate binance? retard
>>61102341why don't you ask him instead, moron?
>>61102341>>61102363If you don't hate Binance after what happened Friday, then maybe you're just stupid.>crash happens>shitty infra causes depegs leading to more crashing >shitty infra locks users out of all trading during the crash>???>BNB sits at ATH
>>61102341there's your answer, he's not even trying to hide itgive him a couple of hours and this id will vanish as well
>>61102415People on anonymous imageboards don't tend to linger. It's basically fast food for internet discourse.You seem to have built your entire existence around this place, so you think leaving after a few hours is unnatural.Pretty damn sad.
>>61098305>>61102404screencap this for me from your "computer", I wanna see something
>>61102426
>>61102423no, phoneposting and swapping ids and then projecting all that to others is unnatural ;)
>>61102430>hurr you hate Binance right now? THAT MEANS I KNOW YOU PERSONALLY
>>61102430you stand out like a sore thumb in every thread. why do you all suck at this so much. is it intentional? are you just incompetent and relegated to this for a living because you're so stupid? help me understand
>>61102995you too, keep swapping ids nigga
>>61102998this is my only id you retard, which goes back to my whole point about your weird projection while swapping ids constantly in every link thread you post in. utterly bizarre
>>61102298>>61102998>hates link>opens link thread that's already 100 posts deep>starts whining about samefagging>lists a bunch of linkie personalities he keeps track of>is clearly upset about the whole thingWhat the fuck are you doing.
>>61101597i am much more interested in the people that gave the orders to do thiswho cares about the bitch in the mumbai slums wasting his day, if what we have seen is anything to go by their lives are already miserable as can be
how are you guys dealing with the fact you missed the bullrun?remember you used to post le heckin smug memenot so fucking cocky now are yayour hubris was your downfall
Holy kek, it appears my superiority has led to some controversy here.>>61099914>>61101406>>61101419>>61101427Oof ooh ah, so sorry that you’ve been reduced to spamming about ID’s instead of talking markets because you can’t. Have you considered these abysmal cold read skills are why you’re poor and losing money in trading?>>61101536Oof ooh ah, actually volume is directly tied to liquidity, you see when markets have big movements on one exchange there’s the concept of “arbitrage” where you can buy on an exchange mispriced to the overall market and transfer to another and a make a profit, this is why even though as linkies believe this was an “”””attack”””” on binance the values dropped comparably across the board. You’re totally welcome to read more on why binances trading volume does translate into deep liquidity here.https://research.kaiko.com/insights/crypto-exchange-liquidity-lowdown>>61102228>attack a lot harder and more expensiveNo, your OP lists $30m as the possible range for the attack. Could have been $60m on Binance and $30m on other exchanges too and not a single word of the OP would need to be changed. Unfortunately not even linkies know how their price feeds work, so it’s up in the air apparently if adoption would make it even cheaper to “attack” (dump your shitcoins) the market like this, as seen here >>61098156
>>61105082>a 50% cost increase from $60M to $90M>not "a lot more expensive"lmao
>>61105133That’s 30 million only presuming your product works like shit BTW. Not that it matters as again none of you shills even seem to understand the product you are shilling for, nor seem to be able to digest anything in English.
>>61105082I have no fucking clue why /biz/ keeps filtering my post, so see pic related
>>61099550definitely going to be thr frontrunner when it comes to privacy
>>61105579>TVLTVL isn’t the same as liquidity on a CEX orderbook though so this is not comparable, since the price ranges for staked liquidity are not guaranteed, so when you cash out the slippage can change the “TVL” on a uniswap contract. You will not get $90mm selling into the USDT orderbook.
>>61105279>"you shills">16 posts by this id
>>61105903as if this means anything, fuck off
>>61105910>opens a thread for a coin he hates>rakes in the highest post count by far>all of the posts are seething ramblesIt means plenty.
>>61105899I don't quite understand what you mean by this? They are directly comparable as they are what you can get from a swap? A direct swap is equivalent in order book lingo to a market order, and there is more liquidity available for such orders for USDe on Ethereum DeFI than Binance. In both cases liquidity can change in response to your order, e.g. market makers and arbitrageurs competing to fill your uber large market order or a MEV bot providing JIT liquidity.
>>61105993Anyways for my $90M USDT example, look at pic related. There is a quote from ParaSwap that gets $93M worth of USDT.The DeFi market is more liquid than Binance, at least for USDe->USDT...
>>61105948>duuuuuuuuuuuuuuuuuuuuuuuuuuuuuuude you can't have "x" posts or else it means what you're saying isn't truewhy are boyscouts like this
>>61106043>totally not the same poster here!
>>61097492Still gonna chose DEX over it every day of the week
>>61105948>>61105903>one linkie says I switch ID’s too much>other linkie mad I post from single ID too muchVery disorganized shilling. Pic rel is me listening to these low IQ insults.>>61105993>They are directly comparable as they are what you can get from a swap? A direct swap is equivalent in order book lingo to a market orderI agree, but a direct swap executed price is not calculated based on TLV. TLV does not equal market depth or liquidity. >In both cases liquidity can change in response to your order, e.g. market makers and arbitrageurs competing to fill your uber large market order or a MEV bot providing JIT liquidity.But new orders on the order book is not liquidity as you measured it for this issue. You said arbitrageurs wouldn’t fix the price discrepancy until after the order book was cleared. Verbatim “Only $20M of USDT before you wipe the order book and lead to a massive drop in price before arbitrageurs fix it…”. If TLV doesn’t accurately represent the “depth” of an AMM’s “order book” and we’re relying on the ability of an exchange to put new orders on the book to cover your large market trades, then this is volume. Cascading margin calls causing new market sells and an exchanges ability for MM’s to soak up sells is all volume not depth.
>>61106031Your screenshot literally shows you slipping the price more than 7 cents on a stablecoin pair, that is not liqudit
>>61106172TVL is an approximation of liquidity since they are directly proportional, this is splitting hairsAlso if you did do a sudden $100M market sell of USDe right now on Binance, the order book would be wiped and only then would market makers and arbitrageurs bid up the remaining amount of the order. If the answer is otherwise, then Binance is violating frontrunning laws by allowing market makers to act in anticipation of incoming orders rather than directly execute them (though I wouldn't be surprised).>>61106195Binance for the same order went to 0.65, there will of course be slippage due to the sheer size of the order...
>>61106211Ok. I see your point and agree with you that volume may not be the best measure for liquidity amongst all markets. I will do more research on slippage and volumes during this liquidation event on AMM’s and come back. Although fundamentally at the core of this discussion I do not believe this post accurately displays a need for chainlink price feeds to solve this problem, all this does is prove that the selling would have needed to be larger across the ecosystem to cause the types of liquidations seen on Binance, not to a degree that’s unrealistic.
>>61102341>>61101406>>61099376>>61098265>>61106302BUULISH FOR LINK
>>61106211>>61106302Off the bat I’m not seeing that this really answers the question, as using paraswap like you used it’s coalescing the price across all liquidity providers. We wouldn’t be doing that as our goal is simply to break consensus across chainlinks oracles. Are we presuming then that chainlink would use the total volume on order books across all CEX and DEX to weight its price feeds? Currently I’m seeing it’s a similar number as the $20mm you quoted on binance to bring the price down to 0.65 for USDe/USDt on Uniswap, $21mm, and curve I’m not finding a pool. Seems based on only using “order book depth” on DEX’s it would be cheaper to carry this out attack from what you’re quoting.
>>61097776>If you can afford to dump the price on the largest exchange you can afford the extra 30 mil to tank the price evenly across all exchanges.Holy shit the absolute nolinkie turbocope.
>>61106786Bumping. Not seeing an answer to this but welcome your insight. Looks like using the figures you quoted it’s actually cheaper to pull off an attack than the OP numbers if using chainlink oracles.
