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Compound loses 90 million bucks and wants it back

Compound Finance 90 million Hack

 

Compound is a popular protocol for the Ethereum protocol.  You can use it to lend money and borrow money with very reasonable rates.  You stake your crypto and you can earn interest and depeding on how much collateral you can take an overcollateralized loan.  That means you need to have more than you borrow.  Why would someone do that?  Let's say you have 100 eth that you bought a while back.  You an put it up as collateral without having to sell it and recognize the gain and pay taxes.  There are lot of reasons why one would want to take out a crypto loan.

Compound was robbed of $90 million dollars

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