😐 DeFi in a new way: DEX simply CANCELED the blockchain when something went wrong
🎢 A "small bug" occurred on Paradex (Starknet) —
Bitcoin on the exchange went to zero in an instant. Yes, literally.
⚡ The outcome is predictable:
thousands of longs were instantly liquidated, with no chances and explanations.
🤡 And what did the "decentralized" exchange do?
No investigation.
No compensation.
No postmortem.
👉 They simply rolled back the state of the network.
Officially. Publicly.
As if they pressed Ctrl + Z and decided that this was acceptable.
😬 All trades "before the failure" — annulled.
How many traders were shaved and for what amounts — is unknown.
Data is carefully hidden.
🧠 And that’s all the decentralization on the new L2s:
• if everything works — it’s DeFi
• if something breaks — suddenly an "admin mode" appears
💬 The question now is:
if the blockchain can be rolled back at the team's discretion —
how is this fundamentally different from CEX?
⸻
#DeFi #Starknet #CryptoNews #DEX
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