RE: Flash Loans a Threat to Defi?

You are right that the same actions could be done by whales without using flash loans. The difference is not many are whales (even though on Ethereum that's kind of a norm), and they would use their own funds to perform the attack, instead of instant loans.

Not sure how price oracles can be improved to fix this exploit, when there are huge amounts used to drive a token price higher or lower in a matter of seconds. The only thing I believe would help is a very deep liquidity pool. But maybe there are other counter-measures I don't see at this point or my level of understanding of the whole thing.

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