Your writing style is super accessible - have learned much from you. Thank you!
Did Avi take the added step of borrowing funds (versus simply cashing out the account 1 position) because the futures contract had limited liquidity available in stablecoins whereas the borrowing step increased their total payout to $117m across multiple coins?
I am not sure I completely understand. If he sold himself futures, wasn’t he also on the losing end of the trade? Wouldn’t he have had a massive margin call on that side?
The Ballad of Risk-Free Avi
Your writing style is super accessible - have learned much from you. Thank you!
Did Avi take the added step of borrowing funds (versus simply cashing out the account 1 position) because the futures contract had limited liquidity available in stablecoins whereas the borrowing step increased their total payout to $117m across multiple coins?
Great article! I have been curious as to how these grifters are grifting people .
Interesting article and gives those who setup crypto exchanges a look into how to avoid this type of manipulation.
the real crime was building a protocol that was so easily exploited. Avi did DeFi a favor by putting it out of business.
thanks for the deconstruction of the 'trade' I can understand the charges now
I am not sure I completely understand. If he sold himself futures, wasn’t he also on the losing end of the trade? Wouldn’t he have had a massive margin call on that side?