DeFi developers will undoubtedly learn from their mistakes and the industry will naturally become safer over time. However, the Aave vulnerability showed investors that no protocol is 100% safe. While it may stand against the ethos of DeFi, smart contract insurance and regulation could become key in onboarding the next generation of risk-averse DeFi users. Source link … [Read more...] about Value Locked in DeFi Surges. So Do the Exploits
Several decentralized finance (DeFi) protocols running on Binance Smart Chain (BSC) have fallen victim to major exploits in recent months as the sector continues to see substantial growth in 2021.Binance’s very own smart contract blockchain platform has seen a surge in demand since its launch in September 2021, due to its low fees and high throughput. This has allowed the … [Read more...] about Growing pains? DeFi exploits plunder BSC, which calls for reinforcements
Decentralized finan’s rising popularity since 2019 has seen the emerging market segment become a target for hackers and opportunistic profiteers.According to a report by crypto research company Messari, DeFi protocols have lost about $284.9 million to hacks and other exploit attacks since 2019. This figure is about 0.65% of the adjusted total value locked of the Ethereum-based … [Read more...] about DeFi hacks and exploits total $285M since 2019, Messari reports
There has been a lot of talk about the recent “hacks” in the decentralized finance realm, particularly in the cases of Harvest FInance and Pickle Finance. That talk is more than necessary, considering hackers stole more than $100 million from DeFi projects in 2020, accounting for 50% of all hacks this year, according to a CipherTrace report.Related: Roundup of crypto hacks, … [Read more...] about Smart contract exploits are more ethical than hacking… or not?