1/ If, after reading https://t.co/IzzATArtZl you are still confused how Alpha Homora and IronBank were hacked, here's how the hack was conceived

2/ Normally when you borrow funds from AH bank, your debtShare and totalDebt increases. Specifically if you want to borrow x tokens, your debt share will be calculated as:

share = x * totalShare / totalDebt

and it is added to totalShare
3/ All these numbers are very big integers (as token precisions are 18 digits) and the calculation is correct, but when totalShare = 1 (think 1 wei) and x < totalDebt, new debt share will be 0 (integer division)
4/ So if you manage to have AH bank with totalShare = 1, and some totalDebt you can repeatedly borrow less than the totalDebt (ideally totalDebt - 1) effectively doubling totalDebt in each iteration. You can do it as many times as you want, while totalShare will remain 1
5/ Eventually Iron Bank that supplies funds to AH will run out of funds, so when amounts get big enough (you are doubling each time), also make sure to replenish it with flash loan
6/ But first you need to make sure that there is a AH bank with totalShare = 1 in the first place. To do that you need to start with an empty bank, i.e. token that has been approved but not used yet. In this case - sUSD
7/ Then you need to do some initial setup which involves putting some collateral, taking small loan and repaying almost all of it - almost, leaving exactly 1 wei. Now you have a bank with totalShare and totalDebt = 1. Almost done, need to increase totalDebt
8/ To do that you call resolveReserve() method on this bank which will increase totalDebt without increasing totalShare and your setup is finished. Now you can extract funds doubling totalDebt at each step.
9/ Notice the state of the initial setup just before a sequence of borrows
https://t.co/267VbLXVUF

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/THREAD/

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It will help you see where you overspend, make a plan to save, pay down debt and start


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How much do you need to support yourself in retirement and when do you want to


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The Dutch regulator and DNB as financial supervisor are a tough cookie to deal with. In essence they hyperregulate EU-rules into goldplated Dutch rules which go beyond what is prescribed in Europe.

All NL-customers at British banks may thus be kicked out on brexit.

Thread

/1

If we start with the capital requirements directive, it says attracting deposits is forbidden. In article 9.

https://t.co/RYl7SXligC


Now the translation of that rule into Dutch law is slightly expanded to not only prohibit attracting deposits, but to also prohibit, having those deposits under custody ('ter beschikking hebben').

That's not in EU law, but it is in our Dutch law.

https://t.co/PsbWfNY3PA


So if you wonder how this would work out for UK banks and Payment institutions servicing Dutch customers. Have a read at the technical explanation of DNB, the financial supervisor and their summarising table.

https://t.co/LL0fAnYkRJ

Passive servicing of Dutch is not allowed!


Any bank or PSP in the UK that continues to serve Dutch customers (as in retail customers, professional players are excepted) can thus be subject to fines and policing under Dutch law.

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THREAD: Who are the rising stars of Chinese elite politics in the central Party-State bureaucracy?

For @MacroPoloChina I analyzed last year's ministerial-level promotions to posts in Beijing

TLDR: Ties to Xi Jinping—or a Xi ally—are very helpful! (1/14)

https://t.co/kO2A0Efyq2


Seven politicians were promoted to ministerial-level positions in central Party agencies last year

All are likely to feature on the next Central Committee selected at the 2022 Party Congress

Some could make the CCP's elite 25-person Politburo (2/14)

https://t.co/kO2A0Efyq2


Likeliest for the Politburo is Meng Xiangfeng, new Executive Deputy Director of the CCP General Office

He would replace Xi ally Ding Xuexiang as CCP chief-of-staff if Ding is promoted further in 2022

Meng worked under Xi allies Cai Qi in Hangzhou and Chen Xi in Liaoning (3/14)


Less likely for the Politburo but still important is Jiang Jinquan, new Director of the CCP Policy Research Office

He replaces 5th-ranked leader Wang Huning who led the Party's brains trust for 18 years

Wang remains prominent and will be <68 in 2022, so he'll stay around (4/14)


Other notable central Party promotions include Li Shulei and Liang Yanshun, who both assisted Xi when he led the Central Party School from 2007-2012

Li is a political conservative who is said to be quite close with Xi, even drafting his 2014 speech on culture and art (5/14)
Here are all the threads posted by @AdityaTodmal and @niki_poojary in January: 🧵

• 8 powerful ways to use Twitter
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• Technical Analysis for all sectors
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All the Top 10 tweets threads I have ever posted to date:


Basics of Derivatives Part 1:


8 powerful ways to use Twitter:


Basics of Derivatives Part 2:

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Fake chats claiming to be from the Irish African community are being disseminated by the far right in order to suggest that violence is imminent from #BLM supporters. This is straight out of the QAnon and Proud Boys playbook. Spread the word. Protest safely. #georgenkencho


There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.


Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.


Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.


The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.