Feb 25, 2020
Maya Zehavi, blockchain consultant, and Zubin Koticha, cofounder and CEO of Opyn, discuss the two recent bZx attacks, whether they were hacks or arbs and whether they were unethical or illegal. They also look at whether flash loans are to blame, how much transparency DeFi teams should have about vulnerabilities on their platforms, how much bug bounties should be for DeFi, and whether flash loans means the amount of bug bounties should be higher. We also talk about whether DeFi should institute circuit breakers, when those would make sense, and whether these attacks could happen to anybody or whether bZx isn't up to the standards needed in this community. We also cover how bZx should handle the under-collateralized loans left on their platform, whether Chainlink will be a sufficient solution to prevent these attacks in the future, and whether DeFi insurance should cover these kinds of attacks. Plus, Maya and Zubin explains why they're happy the attacks happened and have made them more optimistic. And Maya reveals why she has a pizza slice emoji in her Twitter profile.
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Maya Zehavi: https://twitter.com/mayazi
Zubin Koticha: https://twitter.com/snarkyzk
Unconfirmed episode about the attacks: https://unchainedpodcast.com/how-2-defi-attacks-made-almost-1-million-in-profit/
1inch exchange-Fulcrum dispute: https://www.theblockcrypto.com/post/56579/bzx-attacks-and-1inch-exchange-allegations-heres-what-the-teams-have-to-say
Nexus Mutual payouts: https://defirate.com/nexus-mutual-first-payouts/
Nexus Mutual blog post: https://medium.com/nexus-mutual/bzx-flash-loan-event-55753d19e52b