In light of the recent 2nd bZx incident, it’s important to reflect on the situation in hindsight and implement precautions to future protocols so that this may never happen again.

On February 18, 2020 an attacker exploited the oracle dependency on Kyber’s decentralized exchange (DEX) price feed in the bZx smart contract. It allows the collateralization of an artificially overvalued sUSD to borrow a large number of ETH. The attacker ended up profiting from the attack.

We are close with the bZx Team having hosted DeFi Drinks during Osaka Blockchain Week and maintaining constant communication afterward. We believe in the team’s capabilities. They have a great chance to recover and emerge stronger as the only true decentralized finance protocol that uses a robust decentralized price feed.