The Mango Hack
Bloomberg Crypto14 Marras 2022

The Mango Hack

It’s a day ending in Y, which means we’re going to talk about crypto hacks. Yes, these are all too common - in October alone, hacks, attacks and clever exploits (more about those in a second) cost the crypto industry an estimated $700 million. Now when we talk about hacks, you might (correctly) picture sophisticated state-sponsored groups like North Korea’s Lazarus, or more run-of-the-mill attacks on Twitter or Instagram. But there's another kind of exploit that’s really raising eyebrows in crypto these days - one that involves taking advantage of how platforms are supposed to work.

One type of exploit is a price-manipulation attack - which is what happened to a DeFi platform called Mango. The person who did the exploit initially walked away with a cool $100 million.

To better understand what’s at stake for DeFi, Bloomberg reporter Muyao Shen joins this episode. Also featured is Evgeny Gaevoy, CEO and founder of Wintermute, a trading platform that was itself hacked for $160 million back in September.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

See omnystudio.com/listener for privacy information.

Jaksot(224)

There’s A Bitcoin Bar In NYC. Why?

There’s A Bitcoin Bar In NYC. Why?

It’s 2023 and the crypto community is hoping to pull out of its funk this year and put the blowups, bankruptcies and price slumps of the last year in the rear-view mirror.  While some remain hopeful -...

24 Tammi 202316min

When Main Street Banks Dabble in Crypto

When Main Street Banks Dabble in Crypto

Like most crypto-adjacent firms, fiat banks that diversified into crypto have struggled during the crypto winter. And this was likely the case even BEFORE crypto exchange FTX declared bankruptcy in No...

23 Tammi 202314min

This Week in Crypto - FOMO Returns

This Week in Crypto - FOMO Returns

Is crypto back? That’s one question Bloomberg editors and reporters discuss in another This Week in Crypto episode.  Already, the year is packed with digital asset action. Bitcoin is up 30 percent so ...

20 Tammi 202317min

Global Legal Fallout From FTX

Global Legal Fallout From FTX

You’ve probably heard financial regulators refer to crypto as the "Wild West." But, instead of shoot-outs and sheriffs -  in crypto, you can get financial experimentation, hackers and  pretty extreme ...

19 Tammi 202319min

How Ryan Salame's Neighbors Got Tangled Up In FTX's Fallout

How Ryan Salame's Neighbors Got Tangled Up In FTX's Fallout

Western Massachusetts is a very different place from the Bahamas, where the FTX crypto exchange had its headquarters. But the small town of Lenox there is feeling the effects of the FTX bankruptcy non...

18 Tammi 202316min

Who Owns Your Coins?

Who Owns Your Coins?

It was an unwelcome ruling for about 600,000 Celsius account holders, who are probably wishing they’d read the fine print more closely before investing. Or put more stock in the crypto mantra “not you...

17 Tammi 202316min

Team Favorite: SBF's Effective Altruism

Team Favorite: SBF's Effective Altruism

Today, Martin Luther King, Jr. Day is observed in the U.S. So the crypto team wanted to present an episode connected to the idea of service.  The episode, first published last December, focuses on Sam...

16 Tammi 202317min

Gemini/Genesis Battle; Your Questions Answered

Gemini/Genesis Battle; Your Questions Answered

Something we say often on the Bloomberg Crypto team is that a week in this asset class can feel like a year. And as we wrap up the second week of 2023, it’s starting to feel maybe more like a decade. ...

13 Tammi 202313min

Suosittua kategoriassa Politiikka ja uutiset

uutiscast
aikalisa
ootsa-kuullut-tasta-2
rss-ootsa-kuullut-tasta
tervo-halme
politiikan-puskaradio
rss-vaalirankkurit-podcast
viisupodi
rss-podme-livebox
et-sa-noin-voi-sanoo-esittaa
rss-asiastudio
otetaan-yhdet
the-ulkopolitist
linda-maria
rikosmyytit
radio-antro
rss-sanna-ukkola-show-verkkouutiset
io-techin-tekniikkapodcast
rss-raha-talous-ja-politiikka
rss-tasta-on-kyse-ivan-puopolo-verkkouutiset