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Author Topic: High rate of hacks  (Read 1751 times)

Offline Noverteno

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Re: High rate of hacks
« Reply #15 on: August 12, 2022, 08:59:10 AM »
Probably, you need to get used to the fact that cryptocurrency will always be the target of attacks by hackers and various scammers. Especially now, when this market is still practically not regulated by the states, and a significant part of cryptocurrency holders do not have the proper experience with it. The relative anonymity of this market also has a great negative impact. It must be recognized that safety is the weak side of this market.

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Re: High rate of hacks
« Reply #15 on: August 12, 2022, 08:59:10 AM »

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Re: High rate of hacks
« Reply #16 on: August 14, 2022, 09:38:38 PM »
I agree. Hackers most times get what they want. Its just a matter of time. And the incentive? A loot of million of dollars. That is enough motivation. And I use to trust Certik, but I realized they are getting sloppy. They audited Cylum Finance which rugged with millions of investors money. In the end, the best auditors are the investors themselves. Thus DYOR

I agree with you. The certifications of external audits or how many developers review the final code do not matter, what matters is the time and dedication, and logically, the budget allocated to security. The losses in stolen cryptocurrency in the first half of 2022 totaled roughly $2.181 billion, a 208% increase over the first half of 2021. In the previous month alone, 21 different DeFi exploits resulted in $227.76 million in stolen funds, I think these numbers speak for themselves.
I believe you wholeheartedly. The issue about these exploits is that projects throw in half baked contracts that haven't been fully audited or poorly audited. And such codes are easy peasy for persistent malicious actors who have all the time in their hands to exploit the weak areas. I used to rate Certik and Paladin audit projects but their audited projects have  had issues

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Re: High rate of hacks
« Reply #17 on: August 15, 2022, 10:32:00 AM »
hackers will always look for security holes to enter, there is no way to stop hackers be more careful maybe the best advice and improve the existing security system
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Offline MrSpasybo

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Re: High rate of hacks
« Reply #18 on: August 15, 2022, 11:34:35 PM »
DeFi is facing a crisis when the hacks are constantly happening and the scariest is the fake 70% TVL event in the Solana ecosystem. We used to have the DeFi summer of 2020, but DeFi may not save the market in 2023. NFT is the trend where I have high expectations for the market's tipping point.
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Online TomPluz

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Re: High rate of hacks
« Reply #19 on: August 16, 2022, 06:26:35 AM »


It is quite unfortunate that the reality is that in the world of cryptocurrency and DeFi, hacking will continue to be happening as there is no cure-all potion for this malaise which affected many people who are trusting this new financial system yet at the end making them lose money...no wonder many people are losing confidence on this industry. Industry leading platforms are becoming helpless on this problem so far...that is why am always careful never to be a part of suspicious platforms and am limiting my exposure.

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Re: High rate of hacks
« Reply #20 on: August 16, 2022, 01:51:23 PM »
because people make code and break protocols, too, people, but more intelligent. And while this is not regulated in any way, we will continue to see it.
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Offline Max Way

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Re: High rate of hacks
« Reply #21 on: August 16, 2022, 06:23:52 PM »


It is quite unfortunate that the reality is that in the world of cryptocurrency and DeFi, hacking will continue to be happening as there is no cure-all potion for this malaise which affected many people who are trusting this new financial system yet at the end making them lose money...no wonder many people are losing confidence on this industry. Industry leading platforms are becoming helpless on this problem so far...that is why am always careful never to be a part of suspicious platforms and am limiting my exposure.
It is undeniable since the existence of a platform required to connect to the wallet, there was a lot of hacking. Padaha when compared to the previous incident everything seemed nothing that was considered dangerous, but at this time it could be said to be very vulnerable if required to follow this trend, even though it could be said that the platform was considered very trusted. Indeed the best solution is to have 2 wallets one to store assets, and the other for access purposes on the platform.

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Re: High rate of hacks
« Reply #21 on: August 16, 2022, 06:23:52 PM »


Offline Senin

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Re: High rate of hacks
« Reply #22 on: August 16, 2022, 09:08:10 PM »
Now the cryptocurrency market is a tasty morsel for hackers and various scammers. A relatively large amount of capital is concentrated on it, which is often owned by inept people. Moreover, indeed, this market is still practically uncontrollable by the states and is not under their protection. Therefore, it is not surprising that relatively anonymous attackers often attack exchanges and various platforms where large amounts of this capital are concentrated.

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Re: High rate of hacks
« Reply #23 on: August 16, 2022, 09:58:02 PM »
the more hacks on a platform the more changes will be made in the future. developers will improve security and find out the weaknesses in a system. if there is no such thing as hacking, we will not know if the platform is safe and reliable to use
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Re: High rate of hacks
« Reply #24 on: August 16, 2022, 11:45:58 PM »
the more hacks on a platform the more changes will be made in the future. developers will improve security and find out the weaknesses in a system. if there is no such thing as hacking, we will not know if the platform is safe and reliable to use
The truth is hacks and exploits are not going to end any time soon. As long as there is the human factor involved in creating Smart Contracts, we would have vulnerabilities which would be missed by audit firms and which can be capitalized upon by malicious actors

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Re: High rate of hacks
« Reply #25 on: August 17, 2022, 09:29:36 AM »
We have every right to be suspicious of the origin and nature of recent hacks, everything that took place during crypto winter and turned out to be the perfect excuse to dump token prices. If the market makers were behind the hacks or the developers of the projects themselves did, we would have a lot to pay attention to and keep an eye on this market.
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