))
Xen and Sybil Attacks
Manage episode 344604319 series 3287389
Content provided by Keir Finlow-Bates. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Keir Finlow-Bates or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Well, that didn't take long.
A day after my previous video there was a Sybil attack on the XEN cryptocurrency. Except, the attack was really on an exchange - FTX, which offers free crypto withdrawals, and didn't check the maximum gas it allocates to this.
As a result someone found an arbitrage opportunity. Use smart contracts to spawn off lots of Ethereum addresses, deposit small amounts of ETH in the exchange, then withdraw and in the same transaction claim XEN crypto, with FTX paying for it. A day later, mint the XEN and immediately sell on a DEX.
More on that in this episode.
136 episodes
Share
