Someone should've tried to swap $30 and they could've paid off the US national debt!

@web3isgreat imagine if this was how the first trillionaire was created

@web3isgreat Such a shame that these blockchains don't deliver immutability as a feature ...

@maddiefuzz @web3isgreat Or even decentralised ... in this case it looks like some hackers who describe themselves as "in control" were able to unilaterally direct the currency to defraud someone. Seems pretty centralised.


So, hang on... does this prove how fake all these notional valuations of cryptocurrency are?

$10 trillion is the equivalent of the entire USA's GDP for six months. This bank clearly didn't have that much money.

People say a coin is worth $10 billion or whatever, but surely this kind of incident implies the notional values of cryptocurrencies are disconnected from reality?

@web3isgreat What did they burn exactly? Did the user return the $10 trillion, or is the bank now $10 trillion poorer? Both sound rather unlikely. It sounds more like the coin should now be worthless.

@web3isgreat smart contacts have the best bug-bounties 😁

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