DeFi vs TradFi: Terminator Bots Police Loan Market

Nine days after Avraham Eisenberg began to borrow curve cryptocurrency tokens on Aave, a decentralized lending platform for digital assets, he found his $38 millionloan abruptly liquidated by terminator bots.

An estimated $10 million loss on a failed punt sounds only mildly annoying, compared with everything else going on in Eisenberg’s life — the self-described  “applied game theorist” was arrested in Puerto Rico recently for allegedly draining $110 million from trading platform Mango Markets. Still, the zapping of the trader’s short CRV position, as the curve tokens are known, has sparked a lively debate.

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