The Chopping Block: Who’s to Blame for the Curve Hack? - Ep. 526

Unchained

Laura Shin

Business News, News, Tech News

4.6 • 1.3K Ratings

🗓️ 3 August 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, Laurence Day, smart-contract sleuth and co-founder of Wildcat Finance, joins the show to discuss the ramifications of the Curve Finance exploit that has the DeFi world talking. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Curve Finance, one of the most prominent DeFi protocols, got hacked why maintaining different coding languages and clients is so hard whether developers are responsible for this kind of attack whether Curve founder Michael Egorov’s loans in Aave and Fraxlend have put DeFi at risk how the loan in Fraxlend impacted the liquidation price of the Aave loan Tarun’s reaction to the situation, given that his firm Gauntlet has tried to mitigate these risks in the past how people in the community worked together to keep DeFi safe and resilient why Tarun got canceled on LinkedIn what happened with the BALD meme coin mania on Base Hosts Haseeb Qureshi, managing partner at Dragonfly Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest: Laurence Day, co-founder of Wildcat Finance Disclosures Links Unchained: BALD Token Falls 90% Amid Rug Pull Allegations $60 Million in ETH Bridged to Coinbase Layer 2 Base Curve Founder’s Liquidation Could Trigger Chaos for DeFi $52 Million Drained in Curve Finance Pools Exploit Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History CoinDesk: Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes After the Curve Attack: What's Next for DeFi? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Not as dividend as a tale of two pun. Now your losses are on someone else's balance
0:04.8	Generally speaking, air drops are kind of pointless anyways
0:07.3	I manage trading firms who are very involved
0:10.3	I like that heat of the old
0:12.5	DeFi protocols are the antidote to this problem
0:16.3	Hello everybody welcome to the chopping block every couple weeks the four of us get together and give the industry
0:20.7	Insiders perspective on the crypto topics of the day
0:23.1	So quick and chose first you've got Tom the DeFi maven and master of memes
0:27.1	Next we've got to run the gigabrain and grand Puba at gauntlet
0:30.4	Then today special gas we've got Lawrence the smart contract cyber sleuth and
0:34.9	Then you go myself. I'm a seed that had hype manage dragonfly
0:38.1	So we are early stage investors in crypto, but I want to caveat that nothing we say here is investment advice legal advice or even life advice
0:44.9	Please see chopping block that xyz for more disclosures Lawrence welcome to the show
0:49.6	We have you here and under somewhat inauspicious circumstances because there's been a lot of maam going on in DeFi
0:56.0	And we thought you were just the guy to help us decipher everything that's going on
0:59.5	I'm not sure there's been a day in this quarter that would qualify as an auspicious day to appear on a podcast
1:03.9	So it's really there was one day there was one day when ripple went up a lot that I thought was
1:09.4	The rest of them have been pretty crappy actually, you know, I think
1:13.3	For the audience who might not know
1:15.9	Lawrence himself has dealt with
1:17.9	Creating a protocol that has had a attack and so maybe a bit of history on your experience would be good for the listeners
1:25.9	edification. Yeah, I'm happy to talk about that. So in 2001
	...

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