The aftermath affected both user funds and created a liquidation scare that could further damage the standing of other protocols.
before, yet no action was taken by the community. If these assets were to be liquidated, it would pose a threat to a number of DeFi protocols, which would cause a larger implosion than the initial exploit. The incident highlights the ongoing issues of centralization, overexposure, and dependencies on central points of failure, individual people.
All things considered, the tale of BALD is as old as time – speculation pumps the token, only to crash as early holders exit, similar to thefrenzy earlier this year. Though, there was a lack of due diligence into the BALD deployer’s activity prior to the token pump, it is unlikely that it would have dissuaded the frenzied meme-coinery, even if the account’s unusual activity was broadly known.
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