Quote from: Yaunfitda on Today at 12:28:13 PM

An anonymous user managed to net a profit of $250k from a $200 outlay due to a flaw in a DeFi protocol clones rebase code.

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The token SYFI was launched as a soft-pegged adaptive cryptocurrency that expands or contracts its supply automatically. The concept was popularized by Ampleforth which uses a rebasing mechanism to adjust the supply to reflect changes in demand.

However, the Uniswap price of the cloned token was not adjusted to account for the rebase and the trader managed to sell the tokens at the previous price, wiping out virtually all of the liquidity in the pool. A flaw in the SYFI-rebasing mechanism allowed the anonymous user to obtain a large amount of tokens during its first rebase on September 3.

A DeFi trader using the Twitter handle Amplify has admitted that he was the one who netted 740 ETH from an initial investment of just 0.5 ETH. This works out at roughly a $250,000 return for a $200 layout.

https://cointelegraph.com/news/jackpot-user-turns-200-into-250k-thanks-to-a-buggy-defi-protocol

Lucky guy indeed, but I was just thinking, if you're the guy in this situation? Are you going to take advantage of the exploit or will simply inform the devs about it? It's a question of ethics and morals and values here.

That guy was very lucky and at the same time he did hit a jackpot. Thanks to him the price of SYFI has being drop so hard and i dont think the price will recover anymore. Its was not a crime to find a bug and the team project is the one should be blame for it.

jekanmasin

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