Curious why we are down today? I have a guess...

in #bitcoin2 years ago

The 3rd largest defi hack happened today...

The crypto market is very weak today and there are a couple reasons why this is happening...

While the media points to a bear ETF filing and Robinhood saying that crypto activity slowed in the previous quarter, I think there is another culprit contributing to the weakness today...

It's this:

image.png

(Source: https://twitter.com/PriapusIQ/status/1453374558069723136/photo/1)

This is the 3rd largest defi hack in history, though the other two larger attacks had the funds returned.

Flash loans seem to be the culprit here...

Why do they even exist at this point?1

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That's right heard CREAM got hacked earlier today, ugh not a good look

Nope, not good at all.

Crypto suddenly feels very bearish again...

And just like that all is right in the world again

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