Yesterday over $70 million in various digital assets were hacked in a series of attacks on the Curve Finance decentralized exchange. The attack targeted various liquidity pools including Alchemix’s alETH-ETH pool, the CRV/ETH pool twice, Pendle’s pETH-ETH pool, and Metronome’s msETH-ETH pool. Now attacks like these are very common in Defi. According to

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since defi hacks have cost various protocols approx $6.76 billion since 2017. What makes this attack very interesting is that one of the hackers attempts to drain one of the liquidity pools was frontrun by an MEV bot. In some defi arbitrage wizardry the MEV bot took advantage of a price discrepancy in the CRV token which was caused by the activities of the hacker. The arbritiage trade was soo successful that the bot's operator coffeebae.eth netted $5.4 M. The arb breakdown can be found at -->

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This hack and the activities of the MEV bot provides us with several threads to tug at: 1. Could MEV bot operators be charged for front-running smart contract hacks? In the case of the Curve hack the funds were returned by the bot operator. But what if it does not? 2. By extension could validators be charged for accepting fees from an MEV bot operator for front running a smart contract hack? Would the validator also not be benefiting from ill gotten gains via fees paid to accept front running transactions? 4. Can MEV bots be used as a security mechanism as a defensive control to protect smart contracts. What if curve operated a very sophisticated MEV bot that acted as somewhat like a smart contract guard dog. Taking advantage of price discrepancies caused by hacks and returning the proceeds to the DAO. 5. Is any defi protocol safe? Curve has been around since 2020 (eons in defi years), curve has also been subject to many security audits in the past and the hackers still managed to find buggy code.

Yesterday over $70 million in various digital assets were hacked in a series of attacks on the Curve Finance decentralized exchange. The attack targeted various liquidity pools including Alchemix’s alETH-ETH pool, the CRV/ETH pool twice, Pendle’s pETH-ETH pool, and Metronome’s msETH-ETH pool. Now attacks like these are very common in Defi. According to

LinkedIn

This link will take you to a page that’s not on LinkedIn

since defi hacks have cost various protocols approx $6.76 billion since 2017. What makes this attack very interesting is that one of the hackers attempts to drain one of the liquidity pools was frontrun by an MEV bot. In some defi arbitrage wizardry the MEV bot took advantage of a price discrepancy in the CRV token which was caused by the activities of the hacker. The arbritiage trade was soo successful that the bot's operator coffeebae.eth netted $5.4 M. The arb breakdown can be found at -->

LinkedIn

This link will take you to a page that’s not on LinkedIn

This hack and the activities of the MEV bot provides us with several threads to tug at: 1. Could MEV bot operators be charged for front-running smart contract hacks? In the case of the Curve hack the funds were returned by the bot operator. But what if it does not? 2. By extension could validators be charged for accepting fees from an MEV bot operator for front running a smart contract hack? Would the validator also not be benefiting from ill gotten gains via fees paid to accept front running transactions? 4. Can MEV bots be used as a security mechanism as a defensive control to protect smart contracts. What if curve operated a very sophisticated MEV bot that acted as somewhat like a smart contract guard dog. Taking advantage of price discrepancies caused by hacks and returning the proceeds to the DAO. 5. Is any defi protocol safe? Curve has been around since 2020 (eons in defi years), curve has also been subject to many security audits in the past and the hackers still managed to find buggy code.

We are the brushstroke in the grand tapestry of life, the note in the symphony of creation. Life's essence lies in giving oneself completely to the process of creation. Embody the fullness of each stroke and the euphoria of each note embracing the artistic journey with wholehearted enthusiasm.

Beware of profit maxis Bitcoin stands as a testament to human ingenuity, an extraordinary technology that has the potential to revolutionize our world. Yet, it is crucial to remember that Bitcoin is not a panacea for all our problems, but a tool that can be wielded for both benevolent and malicious purposes. Beware of those who claim it to be the ultimate solution, for their motives may be tainted, and their susceptibility to the allure of power may lead them astray. As the saying goes, power corrupts, and absolute power corrupts absolutely; thus, vigilance and discernment are essential in navigating the ever-evolving landscape of cryptocurrencies and their impact on society The year is 2034, and the world has been transformed in ways that were once unimaginable. Bitcoin has become the global reserve currency, replacing fiat currencies and ushering in a new era of economic and political power dynamics. However, this new world is not without its challenges, as the decentralized and empowering vision of Bitcoin's creator, Satoshi Nakamoto, has been perverted by those who wield power in this brave new world. One World Religion - Satoshism A new religion, Satoshism, has emerged and taken root across the globe. Worshippers revere Satoshi Nakamoto as a god-like figure, seeing his creation of Bitcoin as a divine act. This religion has replaced many traditional belief systems, as people now seek to find meaning and solace in the omnipresent timechain. The core tenets of Satoshism are based on the perversion of Satoshi's writings, further consolidating power in the hands of the few. Time Measurement - Block Time: Time is now measured in block time, a concept derived from the Bitcoin blockchain, where new blocks are added approximately every ten minutes. This new system of timekeeping reinforces the centrality of Bitcoin in every aspect of life. Years, months, and days have become obsolete, as people now plan their lives around block confirmations, a constant reminder of the inescapable reach of the blockchain. Even the motion of heavily bodies are measured in block time. Jeff Booth, Michael Saylor, Erik Voorhees, and Jason Lowrey maintain powerful positions in the new world worded controlling the Ministries of Love, Plenty, Truth, and Peace, respectively. They continue to wield their power and influence to maintain the status quo, manipulating the masses and suppressing dissent. The rebels, Arthur Hayes, Gigi, Lyn Alden and Balaji Srinivasan (yes Balaji is a rebel), continue to fight against the oppressive regime, working tirelessly to dismantle the centralized power structures that have corrupted the original vision of Bitcoin. They seek to expose the twisted interpretations of Satoshi's writings and to restore the foundational principles of decentralization, privacy, and individual sovereignty. Meet the overlords of the new world order. 1. Jeff Booth - Minister of love. As Minister of Love, Jeff Booth oversees surveillance, torture, and brainwashing to ensure the loyalty of citizens to the new Bitcoin-based regime. Despite his previous advocacy for decentralization and empowerment, the intoxication of power has twisted his once-noble intentions. Booth now ruthlessly enforces the regime's control, using his technological expertise to create an all-seeing surveillance state, making citizens fear even their own thoughts. 2. Michael Saylor - Minister of Plenty As Minister of Plenty, Michael Saylor is responsible for the allocation of resources in this dystopian world. Driven by his belief in Bitcoin's infallibility, Saylor manipulates the economy to ensure the supremacy of the digital currency. He has implemented strict resource allocation policies, leading to artificial scarcity and suffering among the population. Once hailed as a visionary, Saylor has become a cruel master of economic control, using his power to maintain the regime's dominance. 3. Erik Voorhees - Minister of Truth Character Profile: As Minister of Truth, Erik Voorhees has abandoned his previous principles, becoming a master of propaganda and manipulation. His ministry distorts history and information to serve the Bitcoin-maximalist regime, erasing any dissenting voices or evidence that contradicts the official narrative. Once a champion of free markets and personal liberty, Voorhees now actively suppresses truth to maintain the regime's control. 4. Jason Lowrey - Minister of peace. As Minister of Peace, Jason Lowrey is responsible for the regime's military and war efforts. His role has become a perversion of his original vision, as he now uses the power of Bitcoin to finance and wage wars for territorial and ideological expansion. Once an advocate for global cooperation and peace, Lowrey's newfound power has corrupted him, turning him into a warmonger who views conflict as a means to spread the regime's influence. In this world of 2034, the struggle between the Bitcoin-maximalist regime and the rebels rages on. While Bitcoin has become the global reserve currency, its potential to empower individuals and transform societies has been stifled by those who misuse it for their own gain. The battle for the soul of Bitcoin and the future of humanity continues, as these opposing forces fight to shape the world according to their vision #[0]​ #rebel

Most people live and experience the world through mental fantasies. These are hopes and dreams that deep down they never want fulfilled because these fantasies keep them going. When these fantasies come through these persons experience a cognitive dissonance. Like the man who always dreamed about going to hajj, saved all his life for this but secretly does not want to go because it’s this dream that keeps him going. #happinessparadox