Crypto Hacks and Efficient Markets

You’re reading Economic Forces, a free weekly newsletter on economics, especially price theory, without the politics. You can support our newsletter by signing up here: Last week, there was a hack of a blockchain that resulted in the theft of over $600 million worth of cryptocurrency. The hack went mostly unnoticed for 6 days. I say that it went mostly unnoticed because some people did notice it and tried to profit off of this knowledge. Unfortunately for these people, they actually

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