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Author Topic: What's your thoughts on DeFi fund losses?  (Read 425 times)
TopT3ns
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October 06, 2021, 11:33:46 AM
 #41

whatever it is in the crypto world, I think there's none that really perfect and there's always a gap whether in the security, the team members, the partner, or whatever it is. That's why cryptocurrencies are called the riskiest investment by some experts. It's really volatile and it's still new moreover DeFi. Cryptocurrencies are still in the beginning, there is still so much space to develop and grow. People are learning by doing and of course, fixing the mistakes here and there along the way.  However, I still believe that one day in the future we'll see cryptocurrencies at their finest, massive adopted, and solid.
In my opinion, those who have known the world of cryptocurrency for a long time, everything you do here with trading activities or investing in cryptocurrencies, including on some defi or other platforms, have risks that you must dare to beat because when you want to get a lot of profit then only with courage and confidence .

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October 06, 2021, 02:01:28 PM
 #42

Crypto project money hacks or losses is a regular theme, but it has been on way before the Mt Gox episode. Since the crypto world is the domicile of huge sums of money, it is natural that malicious actors would be drawn to it. The important fact is how the projects, whether DeFi or non-DeFi, handle such
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October 06, 2021, 03:52:38 PM
 #43

Few DeFi projects still lose money due to security hacks for each example balancer lost 500,000 worth of ETH to a hacker weeks ago, this shows that not all DeFi projects are capable of keep users funds safe, this is not the only problem I'm worried about, scammers have not even start building fake DeFi projects yet, maybe this DeFi story will end up like ICO hype of 2017? What's your thoughts on this?

Hackers will be all the time and they advance within time and find new ways of how to steal money. So as not to come across such a robbery you should invest in projects with several audits.

Unfortunately, an audit is not always a guarantee as Balancer is a very reliable project with many audits, but you see that hackers still can find something unnoticed by auditors.
imstillthebest
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October 06, 2021, 04:37:17 PM
 #44

My thoughts are negative of course because that was a loss and not a gain but theres no one to be blame here because no one likes what happened except if it was intentional or an inside job .

Quote
this is not the only problem I'm worried about, scammers have not even start building fake DeFi projects yet,
Because that was the time were defi was still new but now that defi isn't that new anymore ,
more projects are now built carefully or securely but there's still a problem , scammers are now joining this trend because they see that defi is popular right now  .
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October 06, 2021, 04:47:45 PM
 #45

Look at the statistics, I tried not to miss important events.
https://bitcointalk.org/index.php?topic=5267124
Recently, blockchain analytics companies have learned very well to help find hackers, so there are more refunds.
The prospects for this industry are enormous, it is too early to draw conclusions in less than 2 years.

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