Dex exchanges, risks with manipulation!!!!

[Evgenklm]

Today, two dex exchanges were manipulated with borrowed funds, these are Julswap and BurgerSwap, as a result of which the tokens of the exchanges sank in price by more than 50%. Do you think this is the negligence of the exchange team, or is it something else? How could this be avoided? After all, the holders of these coins are in a big minus

[pelana vreo]

Can you give me a link to that information buddy? Some of the new projects have locked their tokens in the liquidity pool which they can withdraw whenever they want, I will look at the partners of the project before investing, I will even ask if the contract has been audited by Certik, it will add trust investor before investing in the token

[bitcoinku]

I think it's just a bug, because I have traded there for a few days to buy BSC and there are no problems, and the price is not too much difference.

[Evgenklm]

Can you give me a link to that information buddy? Some of the new projects have locked their tokens in the liquidity pool which they can withdraw whenever they want, I will look at the partners of the project before investing, I will even ask if the contract has been audited by Certik, it will add trust investor before investing in the token

you do not need to worry, they seem to have passed the audit, I myself am the holder of the coins of the Julswap project, and this situation is extremely unpleasant for me, here is a link to the dex exchange https://info.julswap.com.I am waiting for your comment)

[pelana vreo]

Can you give me a link to that information buddy? Some of the new projects have locked their tokens in the liquidity pool which they can withdraw whenever they want, I will look at the partners of the project before investing, I will even ask if the contract has been audited by Certik, it will add trust investor before investing in the token

you do not need to worry, they seem to have passed the audit, I myself am the holder of the coins of the Julswap project, and this situation is extremely unpleasant for me, here is a link to the dex exchange https://info.julswap.com.I am waiting for your comment)

Thank you for sharing the link, I never use Julswap because I always use Pancakeswap, in my opinion all options are up to investors, investors can stake to avoid losses and wait for the price to return to the selling price they want.
I saw the lowest price in the token JULD $0.001 and currently the price is $0.07 for source CMC, I think if you buy it in January 2021 you will still get a profit before the price returns to the initial price of January, all decisions look difficult because the current crypto market situation is undergoing correction.

[neocrypto90]

This is a new technology, and each new technology has its weaknesses. they have to improve their system to avoid these flash loan attacks in the future.

[jorekol]

Do your research, while evaluating. Talking about me, wouldn't say that I have many favs now - up to StrongBlock. That's first and only blockchain-agnostic protocol to reward nodes for supporting the infrastructure of their blockchain. With the current price almost $500/ month revenue on 1 node which will not change no matter how the market goes - NFTs also add more value and is expected to launch pretty soon. When the going gets tough, what does the $STRONG community do? They make more nodes. 27k nodes.

[robert20]

Most important tuing many new projects are missing is enough testing because they are in hurry to go first in the race so they are not taking enough precautions before launching the project smart contract. As a result we sre seeing these. And the hackers are taking this golden opportunity to make money.

[Evgenklm]

I agree with all the comments above, attackers always find raw and unfinished dex projects, and most often ordinary people who have invested in this project suffer, and most often no one returns these risks and losses to them, only the units after hacking reserve the right to return to the holders, so this is a matter of chance.

[neocrypto90]

I agree with all the comments above, attackers always find raw and unfinished dex projects, and most often ordinary people who have invested in this project suffer, and most often no one returns these risks and losses to them, only the units after hacking reserve the right to return to the holders, so this is a matter of chance.

I agree with you, most of these projects do not compensate the losses that occured due to these attacks, and this is a big problem, they have to do something, for instance create a recovery fund or an insurance fund when they do the tokenomics.

[Review Master]

Today, two dex exchanges were manipulated with borrowed funds, these are Julswap and BurgerSwap, as a result of which the tokens of the exchanges sank in price by more than 50%. Do you think this is the negligence of the exchange team, or is it something else? How could this be avoided? After all, the holders of these coins are in a big minus

Both Julswap and Burgerswap went through flash loan attack and it's not the first time of any defi projects as pancakebunny also faced this flash loan attack few days ago. Pancakebunny team already make announcement about the losses and started to do buybacks for price surging so that hodlers can be benefited from this. Maybe Julswap and burgerswap will do the samething as flash loan attack can't be minimized like exploitations on smart contract.

[bitcoinku]

This is a new technology, and each new technology has its weaknesses. they have to improve their system to avoid these flash loan attacks in the future.

You are right, because the system will never be perfect, we better be careful in trading, if it coincides with a good price, that's our luck.

[Evgenklm]

Today, two dex exchanges were manipulated with borrowed funds, these are Julswap and BurgerSwap, as a result of which the tokens of the exchanges sank in price by more than 50%. Do you think this is the negligence of the exchange team, or is it something else? How could this be avoided? After all, the holders of these coins are in a big minus

Both Julswap and Burgerswap went through flash loan attack and it's not the first time of any defi projects as pancakebunny also faced this flash loan attack few days ago. Pancakebunny team already make announcement about the losses and started to do buybacks for price surging so that hodlers can be benefited from this. Maybe Julswap and burgerswap will do the samething as flash loan attack can't be minimized like exploitations on smart contract.

it seems to me that the banny and burger exchanges are quite large and there are more volumes than for example at julswap, so it is easier for them to compensate for the damage to people, let's see how the CEO of julswap will behave, whether he will come out of this situation a hero or not, because his idea and value lies in the community

[Review Master]

One more updates about flash loan attack as Belt finance was attacked by hacker with the same way of flash loan and stole more than $6.2 Million worth of BUSD which was converted into ETH through 1inch exchange. Not only this, Binance Smart Chain made a tweet about these flash loan attacks and told that these are well-planned and hackers are targeting for BSC.
Check out BSC's Tweet: https://twitter.com/BinanceChain/status/1398838655481913346

it seems to me that the banny and burger exchanges are quite large and there are more volumes than for example at julswap, so it is easier for them to compensate for the damage to people, let's see how the CEO of julswap will behave, whether he will come out of this situation a hero or not, because his idea and value lies in the community

Indeed, pancakebuny and burgerswap has more volumes than julswap. But users are hyped at julswap and many of them still support julswap blindly. Lets see how team of julswap will act on this situation.

[Freemind]

Binance Smart Chain is becoming the preferred target of cryptocurrency thieves. After so many attacks that have been completed successfully for hackers, I am wondering if the problem may come from the root of BSC and its code (exploits, code injection ...) or the attackers use other kinds of tools/bugs. It is curious that in such a short time so many attacks are committed, maybe they are attacks organized by several groups as they say on Twitter, but what is clear is that they must somehow increase security or else the DEX will end with the worst of the reputations.