This element of the DeFi sphere is the most vulnerable one: Expert 0xKofi of 1confirmation shares breakdown of latest attacks Crypto hack DeFi
That said, all recent attacks are executed either against the ecosystem, protocol, smart contract language, or infrastructure. Infrastructure attacks target weaknesses of consensus, Internet systems behind DeFis, private keys and so on.
Smart contract language attacks exploit design flaws of programming languages used for smart contract creation. Protocol logic attacks are executed under bad business logic and tokenomical weaknesses.Last but not least, ecosystem attacks target the interactions between various DeFi protocols: to initiate an attack , malefactors borrow money from one protocol and inject it into the liquidity pools of another DeFi.
Out of ecosystem hacks, flash loan attacks with price oracles are the most frequent; various attacks on private keys are dominant in anti-infrastructure hacks. Ethereum-based apps witnessed $2 billion in stolen funds. More than one half of attacks in 2020-2022 targeted cross-network bridges and multi-blockchain apps.Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google’s crazy new AI turns words into 3D objectsResearchers with Google have created a text-to-3D A.I. that can create new 3D models using the words that a user types in.
Read more »
Scientists Are Getting Better and Better at Levitating Objects With Sound WavesResearchers have come up with a new way to cause objects to levitate using sound waves alone, an impressive feat of mixed-reality technology.
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataA chart from KaikoData last week showed that the 30-day correlation between gold and bitcoin reached over 0.3, a highest in over a year despite cryptocurrencies' decoupling from equities. Chart of the Day breaks down the data, presented by cryptocom:
Read more »
Transit Swap ‘hacker’ returns lion’s share of $23M in stolen funds: Finance RedefinedAs the United States dollar strengthens, even DeFi protocols are looking to invest in the USD as MakerDAO announced it is going ahead with its $500M investment in Treasury.
Read more »