Flash Loans, and Attacks — explained

After five attacks and millions of dollars lost due to an exploit, this week we’re diving deep into the mechanism behind what made this possible: Flash Loans. Some called it a magnificent attack, some called it art. But there are other important questions to be asked: were the flash loan attack prevention, fake token attack prevention, re-entrance attack prevention claims unwarranted? How can an audited protocol fall victim to this attack?

This is The Defiant x Harmony, a weekly series brought to you by Harmony Protocol’s Creative Director, Robin Schmidt, and Camila Russo, the founder of The Defiant, to explore DeFi’s most important stories and demystify this exciting emerging financial space.

0:00 November 17th, 2020
1:18 5 attacks
1:25 Cheese Bank
1:48 Akropolis
2:12 Harvest
2:54 Value Protocol
3:11 Origin Protocol
4:02 What is a Flash Loan?
7:48 Anatomy of a Flash Loan Attack
10:18 Re-Entrance
11:33 A Magnificent Attack
15:15 Bounty
16:49 Hacker’s Note
18:06 The Fallout

LINKS
https://twitter.com/OriginProtocol/status/1328524012985708544
http://www.valueprotocol.org/
https://cheesebank.io/
https://akropolis.io/
https://harvest.finance/
https://www.originprotocol.com/en/
https://medium.com/dragonfly-research/flash-loans-why-flash-attacks-will-be-the-new-normal-5144e23ac75a
https://twitter.com/paraswap/status/1327645980699799553
https://twitter.com/emilianobonassi

Follow The Defiant
http://thedefiant.substack.com
https://twitter.com/DefiantNews

Follow Camila Russo
Camila Russo on Twitter: https://twitter.com/camirusso
Purchase Infinite Machine at Amazon: https://tinyurl.com/yxd74f54

This series is produced by Harmony Protocol.
https://www.youtube.com/harmonyprotocol/

#thedefiant #defi #decentralized #finance #blockchain

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