币圈半边天
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The cryptocurrency world has seen a "Philosopher's Stone"! In the past two days, a group chat has been flooded with the same screenshot: A trading platform's market-making BOT system experienced an anomaly in the early hours, allowing users to exploit a situation with a capital of 100U on the VOXEL/USDT trading pair. According to the whistleblower, the robot was able to execute buy orders placed at 0.135U, penetrating the market depth, and completing a series of arbitrage through sell orders at 0.148U, netting 19,000U in just 19 hours.
Even more bizarrely, this "perpetual motion machine" type of arbitrage completely breaks from traditional understanding — it does not require a liquidity pool to support it, nor does it need to wait for opposing orders to match; the orders placed were inexplicably filled. The continuous transaction screenshots in the trading records are enough to make one's scalp tingle. Is this a technical loophole, or human manipulation? The industry is now split into two factions arguing fiercely: some believe this exposes a fatal flaw in the automated market maker protocol during extreme market conditions, while others imply it could be a deliberate "order feeding" orchestrated by market makers themselves.
The chilling aspect of this matter is that when quantitative programs lose their risk control shackles, the entire price discovery mechanism of the cryptocurrency market resembles a Russian roulette with tampered underlying code. Those geeks who always say "code is law", are they witnessing the Pandora's box of algorithmic chaos this time? However, a reminder to everyone: such occurrences of "USDT falling from the sky" have always been a zero-sum game with more losses than gains. Withdrawals were briefly halted, but some funds were still successfully withdrawn, leading to significant losses for the platform 💸.
Even more bizarrely, this "perpetual motion machine" type of arbitrage completely breaks from traditional understanding — it does not require a liquidity pool to support it, nor does it need to wait for opposing orders to match; the orders placed were inexplicably filled. The continuous transaction screenshots in the trading records are enough to make one's scalp tingle. Is this a technical loophole, or human manipulation? The industry is now split into two factions arguing fiercely: some believe this exposes a fatal flaw in the automated market maker protocol during extreme market conditions, while others imply it could be a deliberate "order feeding" orchestrated by market makers themselves.
The chilling aspect of this matter is that when quantitative programs lose their risk control shackles, the entire price discovery mechanism of the cryptocurrency market resembles a Russian roulette with tampered underlying code. Those geeks who always say "code is law", are they witnessing the Pandora's box of algorithmic chaos this time? However, a reminder to everyone: such occurrences of "USDT falling from the sky" have always been a zero-sum game with more losses than gains. Withdrawals were briefly halted, but some funds were still successfully withdrawn, leading to significant losses for the platform 💸.
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