Weekly Roundup 10/13/22 (FASB accounting rules update, Warren's letter to Texas, Howey's orange groves) (EP.361)
On The Brink with Castle Island
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Mango Attack
The attacker tricked the protocol into thinking it was worth more than it's kind of fair value. They bid it up on thin liquidity and then I believe borrowed a significant sum against that. So yeah, basically it was poor economic design as opposed to any technical failure. But who gets in trouble for this? Is this mangoes fault for not designing something that their customers were protected by? And is this an overt crime?
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