"All I said was, 'What?'" Kellar recalls. He picked up the phone to hear a breathless Day explaining that the platform had been attacked. Kellar was sitting in his mom's living room six time zones away near Austin, disassembling a DVD player so he could salvage one of its lasers. Day jumped up, spilling his food on the floor, and ran into his bedroom to call Dillon Kellar, a co-founder of Indexed. But he knew enough to be alarmed: A user had bought up certain tokens at drastically deflated values, which shouldn't have been possible. ![]() "If you didn't know what you were looking at, you might say, 'Nice-looking trade,'" Day says. ![]() The colleague had sent over a screenshot showing a recent trade, followed by a question mark. The text was from a colleague who worked with him on Indexed Finance, a cryptocurrency platform that creates tokens representing baskets of other tokens - like an index fund, but on the blockchain. 14, in a house near Leeds, England, Laurence Day was sitting down to a dinner of fish and chips on his couch when his phone buzzed. An 18-year-old graduate student exploited a weakness in Indexed Finance's code and opened a legal conundrum that's still rocking the blockchain community.
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