How 2 DeFi Attacks Made Almost $1 Million in Profit - Ep.113

Lev Livnev, a formal verification researcher at dapp.org and a founding partner at Symbolic Capital Partners, talks about the two attacks on bZx in the last week. He describes what the attackers did, why he thinks flash lending is not the culprit and how much he thinks bZx is to blame. Plus, we talk about what this means for DeFi in general and where the space goes from here. Thank you to our sponsors! eToro: https://www.etoro.com Crypto.com: https://crypto.com Kelman Law: https://kelman.law Episode links: Lev Livnev: https://lev.liv.nev.org.uk CoinDesk explanation of both attacks: https://www.coindesk.com/everything-you-ever-wanted-to-know-about-the-defi-flash-loan-attack The first attack: https://www.coindesk.com/exploit-during-ethdenver-reveals-experimental-nature-of-decentralized-finance Peckshield analysis on the hack step by step: https://medium.com/@peckshield/bzx-hack-full-disclosure-with-detailed-profit-analysis-e6b1fa9b18fc BZx's post-mortem on the first attack: https://bzx.network/blog/postmortem-ethdenver Unchained interview with Compound: https://unchainedpodcast.com/how-youll-earn-interest-on-your-crypto-with-compound-ep-82/ Unchained interview with dYdX: https://unchainedpodcast.com/how-dydx-allows-you-to-take-a-short-position-in-one-token-ep-86/ Unconfirmed interview with Uniswap: https://unchainedpodcast.com/how-uniswap-quickly-became-one-of-the-most-popular-dexes/ The second attack: https://www.theblockcrypto.com/post/56207/bzx-attacked-again-645k-in-eth-estimated-to-be-lost Sam Czsun blog post: https://samczsun.com/taking-undercollateralized-loans-for-fun-and-for-profit/ What all this means for bZx: https://www.theblockcrypto.com/genesis/56330/money-2-0-stuff-unus-sed-bzx Unchained interview with Synthetix: https://unchainedpodcast.com/how-synthetix-became-the-second-largest-defi-platform/ Links from news recap: https://unchainedpodcast.com/omg-bzx-wth/