bZx hack review

bZx hack review

August 13, 2021

  • clever arbitrage also involving a smart contract bug
  1. flashloan 10k eth from dYdX
  2. hoard 112 WBTC by compound borrowing with 5500 ETH
  3. 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
  1. dump BTC
  2. 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?