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#THORChain

0 posts0 participants0 posts today
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⚯ Michel de Cryptadamus ⚯

wherein a crypto bro straight up rejoices that is driving tons of liquidity (in the form of laundering billions of dollars of stolen customer funds) through 's app:

> "who really cares it's good for "

I’m calling it now, this is a serious contender for the greatest crypto tweet of all time.
x.com/ThorChainz/status/189484

p.s. remember that 's banking app imploded just a few weeks ago and took $100 million of its customers money with it.

#infosec#cybersecurity#uspol
Kriptofoni

🔎 THORChain, 200 Milyon Dolarlık Borcunu TCY Token ile Yapılandırıyor #THORChain

🔸 THORChain, borcunu yapılandırmak için yeni bir token geliştirdi.
🔸 Topluluk, planın sürdürülebilirliği konusunda endişelerini dile getiriyor.

ift.tt/9uU0kpc

Kriptofoni · THORChain 200 Milyon Dolarlık Borcun Ödenme Planını Açıkladı! İşte O KararTHORChain projesi borçlarını yapılandırmak için 200 milyon dolarlık yükümlülüğünü token’a çevirmeye karar verdi.
⚯ Michel de Cryptadamus ⚯

great summary of the collapse debacle. these guys are always promising "decentralization" right until the moment a centralized authority has to step in and genocide the users' bank accounts so as to make sure the insiders stay rich.

> "Tonight, somewhere on-chain, $200M worth of user funds sit frozen while THORChain's team tries to innovate their way out of their own innovation. Ninety days might buy them time to restructure, but no amount of governance theater can erase the fundamental truth - they built a leverage trap with no escape hatch."

> "Their 'community-driven' solution reads like a negotiation with no real choice - frozen funds transformed into tokenized claims and promises of future repayment. THORChain's original promise of trustless finance ends with a forced trust exercise."

rekt.news/thorchains-iceage/

rektRekt - THORChain's Ice AgeDeFi / Crypto - When you build leveraged experiments on top of working products, reality strikes. THORChain now faces $200M in frozen funds, a native token in free fall, and 90 days to choose between controlled demolition or total collapse.
#RUNE#crypto#cryptocurrency
Replied to ⚯ Michel de Cryptadamus ⚯
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⚯ Michel de Cryptadamus ⚯

2/ these kind of collapses do make for some incredible price charts... / pair is particularly impressive right now. i guess the protocol sort of half crashed earlier and then zombied back to life only to do a final death spiral.

personally i'm kind of loving the idea of "crypto czar" and the new leadership of the and under having to explain to the world that this is a legitimate industry that deserves to be fully integrated with the banking system.

also i suspect this to be a hack (or "highly profitably trading strategy")... just a hunch.

#thorchain#THOR#crypto
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⚯ Michel de Cryptadamus ⚯

🚨 a major crypto bridge run and/or partially owned by some of the core dev team that helps people move their crypto assets between chains just blew up. hundreds of millions of dollars in liabilities it can't meet.

just another day in crypto...

(actually this is kind of a bad day, even for crypto)

x.com/1984_is_today/status/188

[update] the chain swapping still works, but they had bolted on some kind of crypto bank lending protocol and that is what is toast, along with all their users' money. they are "guaranteeing" that users will get their money back "eventually" (bros always do this)

#thorchain#crypto#cryptocurrency
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