Unfortunately, it looks that 3Speak video doesn't work, please click on the link to watch the video HERE... Sorry about this...
This post sounds very weird especially as it comes right after my vlog from yesterday, where I was talking about the things that happened today... lol... No, I didn't know that this wLEO hack will happen, and I have nothing to do with it... And to be honest, I have recorded that video a few days BEFORE publishing it... But, these things happen, and we have to get used to that...
So, someone found a loophole in the system, and used it to mint wLEO tokens for free, selling them on Uniswap for ETH, and withdrawing that ETH from the pool... In the moments where I'm writing this description, the LEO Finance team has published the official post about this hack and you can find it here
At the moment when that happened (and was happening), the typical FOMO/panic started to arising... As wLEO on Uniswap and LEO on Hive-Engine are correlated, dropped the price from dumping fake wLEO on Uniswap pulled down the price of the "original" LEO on H-E... People start to panic big-time and the selling of LEO at cheap prices started...
That was one of the scenarios that I have mentioned yesterday but in the opposite way... I was talking about FOMO-ing when the price is going up and BUYING tokens at the top, and today we have experienced in the opposite... Selling tokens when everyone is selling... Experienced traders were just rubbing hands following that old trader saying Be fearless when everyone is scared, or BUY when everyone SELLS...
Check out the video for my 2c on this LEO drama...
Thank you for your valuable time,
ph
Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
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