"DeFi bug accidentally gives $90 million to users"

Clubber Lang said:
I wonder how much of the 90M will actually be returned
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According to the article, they seem to think quite a bit. But what I find interesting is how they say 90M can easily be absorbed. Jesus, where is this money coming from?

“The protocol can easily absorb a loss of $90 million and a lot of it will likely be returned, but the larger issue would be if people lose confidence in the system’s ability to function properly,” said Greenspan.
 
NoahA said:
https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html

The founder is begging for the money to be returned, and threating them with doxxing. Can you imagine???
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"...Gupta, a core developer at decentralized crypto exchange SushiSwap, said in a tweet that the entire episode could be blamed on a “one-letter bug” in the code."

Indeed. Sounds familiar, kinda', but in reverse. Think the guys at Gupta were acting just like this at lunchtime? Hehe!

 
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So the update to this story is that even more money can be up for grabs.

https://www.cnbc.com/2021/10/03/162-million-up-for-grabs-after-bug-in-defi-protocol-compound-.html

Here is the shocking part.... “Future rewards might have to be reduced to make Comptroller solvent,” said Gupta.

Now don't get me wrong, I want to love crypto, and I am still bullish on it for many reasons, but aren't these guys in a way just printing money? I get that the infrastructure needs rewards to function, but in some sort of way, money is being printed out of thin air, then its hacked, and with so much programming still left to do, is this really different than the FED meeting regularly to discuss what they are gonna do with USD fiat money supply?

BTC is one thing, but with all these other coins needing constant updates and ability to fork and change the programming, it almost seems more like crypto is becoming not so different from the issues that plague fiat currency.
 
Over 30 million USD were reported to have been stolen from the decentralized finance (DeFi) protocol Grim Finance, after hackers have exploited a vulnerability in the platform.

The attack happens a week after the Singapore- based Crypto Exchange AscendEX was hacked for some 77 million USD.

According to a Tweet by Grim Finance we are talking about “an advanced attack”, where hackers have exploited the platform’s vault contract protocol through five reentrancy loops, which allowed them to fake five additional deposits into the vault while the DeFi platform was still processing the first deposit.
 
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