A post-mortem: how market manipulation left Synthetix stakers with over $1m in debt
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
Quick Take
- A recent Medium post stated that DeFi startup Synthetix did not take timely measures against a series of market manipulation incidents happening on its platform in late 2019
- The alleged loss from these incidents is $2.5 million, and affected trading pairs were delisted after a proven case of market manipulation occurred
- The Block did an independent investigation of the suspicious addresses listed in the blog post
Decentralized Finance (DeFi) startup Synthetix came under attack recently as market participant accused it of turning a blind eye to a series of market manipulations between November 30 and December 26, 2019. The Block's own research shows that the total loss was around $1.47 million, with only one case proven to be market manipulation.
accessprotocol.co
Subscribe for Premium Content
To unlock this and other Premium content, subscribe via Access Protocol. You can pay with SOL.
