bZx hack review
- clever arbitrage also involving a smart contract bug
- flashloan 10k eth from dYdX
- hoard 112 WBTC by compound borrowing with 5500 ETH
- margin trade sETHwBTC “meta” market. Think of stock short like Apple-USD Drive up wBTC and shit on ETH. Sell ETH for wBTC, then ETH drops/wBTC rises, buy eth back. have wBTC remainin
- short position
- buy this bzx position
- dump BTC
- return WBTC buying it with ETH. And get the ETH back. Profit a lot
what is leveraged trading? more exposure. Why do they sell these products?
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