this is just ridiculous, aztec is not high-risk, it has tiny deposit limits, which had successfully deterred any bad actors from using it. overcompliance will kill this space.
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ok here is how the $luna $ust attack was coordinated & executed. 🧵 (quoted from a friend)
- attacker OTC accumulated $1bn of UST
- borrowed $3bn in $btc
- spread around some fud about peg and bank runs
- dumped the fuck out of their $3bn $btc on market to trigger wider panic