Understanding Defi Flash Loans: Complex Attacks, Inflation and Composable Systems
Decentralized finance (defi) flash loans is a hot topic right now, after the lending platform Bzx saw $954,000 siphoned from two flash loans. The first one took place on February 14 and then another Bzx ‘attack’ occurred on February 18. The method of execution called a “flash loan” has been a contentious subject because people don’t necessarily agree that flash loans are an “attack,” “hack,” or “exploit,” because the scheme merely follows the rules of the said contract and loan system. A number of Ethereum proponents believe flash loans are useful and open up new avenues of decentralized finance.
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