More_Ad_6196
More_Ad_6196 OP t1_j5ks37k wrote
Reply to comment by Owlstorm in eli5 - Wrapped tokens - crypto by More_Ad_6196
So to put it in ELI5 terms, someone can take a Bitcoin, wrap it, sell the WBTC on Ethereums chain and reverse the transaction to get back their BTC while profiting off of the WBTC sale?
More_Ad_6196 OP t1_j5katxh wrote
Reply to comment by desferecat in eli5 - Wrapped tokens - crypto by More_Ad_6196
Thank you, so there is no loophole that people are using to use the ETH while the WETH is in circulation?
More_Ad_6196 OP t1_j5ksnfj wrote
Reply to comment by Owlstorm in eli5 - Wrapped tokens - crypto by More_Ad_6196
Woah