Many parts of Europe, America, and Asia were without internet in the early hours of...
Analyst explains that crypto hacks will reach all-time highs by 2022. Kim Grauer, research director at Chainalysis, stated that the top priority of the crypto industry should be reducing hacks through improving cybersecurity. According to the firm, crypto thefts through hacks could surpass 2021 this year. These exploits mainly target the field of Decentralized Finance (DeFi). Grauer stated in an interview with Cointelegraph that “this can’t continue in the industry because people will lose faith in investing on DeFi platforms.” [embedded content] Decentralized protocols are more vulnerable than centralized exchanges. This is largely due to the open source code that they are built on. “Anyone can look through this open-source code to find code vulnerabilities they can exploit,” Grauer explained. The researcher believes that hacking vulnerability is not an inherent problem of DeFi but rather a result of insufficient security at the code level. She pointed out that “there are contracts that have shown that they can be kept secure.” Grauer believes that decentralized protocols can be more secure than their centralized counterparts if enough resources are spent on making the code “perfect”. You can see the full interview over on our YouTube channel and don’t forget about to subscribe!
Reducing the number of hacks by improving cybersecurity should be considered a top priority for the...
The cryptocurrency market has seen incredible growth. There are nearly 21,000 coins available...
AvengerDAO is a community-driven security initiative that helps protect users from scams, malicious actors, and...
Mainstream outlets are beginning to notice the importance of the Ethereum Merge next week, which...
Blockchain platforms have become the center of many tech conversations around the world in the...
“The collapse of crypto shadow banks like Celsius demonstrated just how problematic centralized, opaque finance can...
Web3 was created to disrupt the current internet state. As a new technology, there are...
The MetaMask team stated that they have learned that browser behavior can compromise the security...