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For DeFi’s Sake, Maker Should Take Blame for Black Thursday Losses

For DeFi’s Sake, Maker Should Take Blame for Black Thursday Losses

Many lifelong cryptocurrency stalwarts had their savings wiped out on Black Thursday when a sudden price crash triggered the auction of under-collateralized ethereum (ETH) posted in the MakerDAO vaults. While the system did not technically malfunction, a confluence of factors enabled a few opportunists to win the collateral auctions despite placing extremely low bids.




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