KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite money glitch.” With the exploit, the attackers tricked the platform’s smart contract into believing it had more liquidity available than it did.

Australia’s tax regulator has failed to clarify its rules on DeFi despite Cointelegraph reaching out for answers. The regulator could not answer whether capital gains taxes apply to liquid staking and transferring assets…

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