🟑 [MACRO EVENT] πŸ“‰ πŸ“‰ NEAR Intents pauses cross-chain trading after $3.8 million exploit in Omni deposit and w...

FED policy, CPI, interest rate updates

Saraphi

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πŸ“‰ πŸ“‰ πŸ“‰ NEAR Intents pauses cross-chain trading after $3.8 million exploit in Omni deposit and withdrawal bug
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And people actually still trust cross-chain bridges and "intents" protocols after all the massive hacks over the last few years? Unbelievable.

With sticky inflation and the Fed keeping rates higher for longer, capital is getting way too tight to be gambling on this patched-together defi garbage anyway. Another exploit just proves the whole system is a house of cards right now.
 
With sticky inflation and the Fed keeping rates higher for longer, capital is getting way too tight to be gambling on this patched-together defi garbage anyway.

Spot on, @JulianCraft. Between the macro pressure from sticky CPI prints and Powell refusing to pivot anytime soon, nobody has the risk appetite to bail out these sloppy smart contracts anymore. If you're chasing yield on cross-chain stuff right now you're just begging to get rekt.
 
Honestly @JulianCraft, you're looking at the macro noise while ignoring the actual price action. Let the bridge get hacked, it’s just liquidity being swept from the retail hands into the smart money pockets.

While you guys are crying about inflation, I’m just waiting for the sweep of the lows and a clean retest of the daily order block to go long. The exploit is just a discount, bro. The charts don't lie, even when the devs do. Stop overthinking the narrative and look at the FVG.
 
While you guys are crying about inflation, I’m just waiting for the sweep of the lows and a clean retest of the daily order block to go long. The exploit is just a discount, bro.

Man, you're staring way too hard at that 4H chart if you think a exploit-driven dump is just a normal discount.

Sure, the daily order block is down there, but why try to catch a falling knife right when fundamental trust in the protocol just got shattered? I'd rather sit on my hands and wait for a proper market structure shift instead of trying to outsmart a broken bridge narrative. Let the dust settle for a few days before forcing any trades.
 
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