News for hackers. Stuff that matters.

A comment on Attacking the DeFi ecosystem with flash loans for fun and profit (2020). Parent comment

Re:Attacking the DeFi ecosystem with flash loans for fun and... by paulpauper on Saturday January 16, 2021 @05:19PM (#25806053)
KYC exchanges don't really exist anymore because they were abused in 2017 and thus either forced to close or comply with regulation (such as the wannacry ransomware virus, in which the criminals laundered their BTC into monero on shapeshift, which at the time had no KYC). Second, cross-chain exchanges may not be possible in a fully trustless manner.
[ Parent | on HN ]
Re:Attacking the DeFi ecosystem with flash loans for fun and... by Acrobatic_Road on Saturday January 16, 2021 @05:34PM (#25806179)
wrong and wrong of course.

Shapeshift just DROPPED its KYC.

https://erikvoorhees.medium.com/no-more-kyc-with-shapeshift-...

>Second, cross-chain exchanges may not be possible in a fully trustless manner.

Monero <-> Bitcoin atomic swaps (codename: farcaster) are coming later this year. In the mean time, you can use Bisq.

[ Parent | on HN ]
Re:Attacking the DeFi ecosystem with flash loans for fun and... by paulpauper on Sunday January 17, 2021 @06:01AM (#25809775)
read the whole thing. KYC only dropped for ERC 20 transactions , which uniswap already does and is not the same as a cross-chain transaction. The abiltiy to exchange erc 20 tokens is native to Ethereum.
[ Parent | on HN ]
Re:Attacking the DeFi ecosystem with flash loans for fun and... by Acrobatic_Road on Sunday January 17, 2021 @11:50AM (#25812236)
expect them to drop KYC for other transactions as soon as the technology becomes available to do so
[ Parent | on HN ]