SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by Retric on Monday June 28, 2021 @06:17PM (#27668974)

Even then you are limited things to people who are willing to break the law and have a giant sign pointing them as a likely culprit.

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Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by rawtxapp on Monday June 28, 2021 @06:45PM (#27669275)

I mean people short crypto all the time, averaged over a long enough period of time long/short ratios are roughly ~50/50 [1]. It's normal market behavior. And if you're shorting one of the big ones, you can most likely do it on defi without even providing a name.

1: https://www.bybt.com/LongShortRatio

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Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by Retric on Tuesday June 29, 2021 @12:18AM (#27671715)

Let’s assume something like 100 people have very large* short positions on a system that goes down. Dropping the possibility from X,000,000,000 to 100 is quite a big deal.

*very large being required for significant money to be at stake, making say 10k illegally from a short is hardly going to inspire a lot of effort.

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