zasad@ (OP)
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Activity: 1736
Merit: 4270
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August 06, 2020, 09:53:36 PM
Last edit: January 29, 2024, 03:07:50 PM by zasad@ Merited by tk808 (25), NotATether (10), hugeblack (6), bitmover (4), o48o (2), Darker45 (1), abel1337 (1), vv181 (1), FinneysTrueVision (1), Charles-Tim (1), Symmetrick (1) |
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DeFi financial system has been compared to the wild west, but that's how a new story begins. 202018 February 2020Arbs Exploit DeFi to Make $900k in Seconds; bZx hack. https://thedefiant.substack.com/p/arbs-exploit-defi-to-make-900k-in21 February 2020Fulcrum had a $2.5M vulnerability over a month ago and still hasn’t told anyone https://medium.com/@1inch.exchange/yes-we-hacked-bzx-fulcrum-but-one-month-ago-3f7e5c437ee319 April 2020Multicoin Capital-backed DeFi protocol dForce loses ~$25M total locked value in an exploit https://www.theblockcrypto.com/amp/linked/62346/multicoin-capital-backed-defi-protocol-dforce-loses-25m-total-locked-value-in-an-exploit21 April 2020Dforce return $ 25 million back !!! https://twitter.com/lawmaster/status/125248319811577446419 May 2020BlockFi Experiences Data Breach – Crypto Lending Hack https://defirate.com/blockfi-hack/18 Jun 2020A cryptocurrency bug put $545,000 of DeFi funds at risk https://decrypt.co/32720/a-cryptocurrency-bug-put-545000-of-defi-funds-at-risk20 Jun 2020Balancer hacked ~ $ 500,000https://medium.com/balancer-protocol/incident-with-non-standard-erc20-deflationary-tokens-95a0f6d46dea14 Jul 2020How BZRX Uniswap Listing Made One Trader $550K In 30 Mins https://cryptopotato.com/how-bzrx-uniswap-listing-made-one-trader-550k-in-30-mins/5 August 2020Blatant “bug” led to $370,000 DeFi hack, say experts. Opyn hack. https://decrypt.co/37671/blatant-bug-led-to-370000-defi-hack-say-expert7 September 2020$250k Soft Yearn (SYFI) https://cointelegraph.com/news/jackpot-user-turns-200-into-250k-thanks-to-a-buggy-defi-protocol13 September 2020$8M bZx protocol https://www.theblockcrypto.com/post/77656/defi-protocol-bzx-attacked-lost-8-million-faulty-code14 September 2020$8M returned bZx protocol https://twitter.com/bZxHQ/status/130549667547400601729 September 2020$15 Million Hackers Drain $15 Million From ‘Unreleased’ Yearn Finance Project https://bitcointalk.org/index.php?topic=5267124.msg55282297#msg5528229729 September 2020$10 Million $10 Million Ethereum Vulnerability Patched by Whitehat Hacker https://fullycrypto.com/10-million-ethereum-vulnerability-patched-by-whitehat-hacker11 October 2020wLEO Was Hacked on Ethereum. Damage $ 42,000https://bitcointalk.org/index.php?topic=5267124.msg55365482#msg5536548226 October 2020Harvest Finance- 23 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg55455370#msg5545537012 November 2020Akropolis- 2 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg55591391#msg5559139114 November 2020Value DeFi 6 million US dollarshttps://twitter.com/value_defi/status/132766057159277363217 November 2020Origin Defi Protocol 7 million US dollarshttps://news.bitcoin.com/origin-defi-protocol-suffers-massive-flash-loan-attack-ousd-stablecoin-value-plunges-85/22 November 2020DeFi Protocol Pickle Finance 20 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg55653413#msg5565341314 December 2020Nexus Mutual 8 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg55829590#msg5582959018 December 2020Warp Finance 7,7 million US dollarshttps://www.theblockcrypto.com/linked/88415/defi-warp-finance-attacked-lost-7-7-million-stablecoins28 December 2020DeFi protocol Cover 5 million US dollarshttps://www.theblockcrypto.com/post/89368/defi-protocol-cover-exploited-attackers-minted-at-least-40-quintillion-tokens___ https://decrypt.co/54128/hackers-stole-3-8-billion-in-cryptocurrency-hacks-in-2020Hackers Stole $3.8 Billion in Cryptocurrency Hacks in 2020Information disclosure and analysis of major hacks in the DeFe ecosystem https://github.com/yearn/yearn-security/tree/master/disclosures__ 2021February 4, 2021Yearn.finance 9 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg56271047#msg56271047February 14, 2021Cream Finance 37,5 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg56458888#msg56458888February 28, 2021Furucombo 14 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg56458888#msg56458888March 4, 2021Meerkat Finance (Binance Smart Chain) 32 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg56490389#msg56490389March 5, 2021PAID Network (PAID) 3 million US dollarshttps://bitcointalk.org/index.php?topic=5267124.msg56498767#msg56498767March 8, 2021DODO DEX 2 million US dollars, $1.89 million has been recovered https://bitcointalk.org/index.php?topic=5267124.msg56530098#msg56530098March 15, 2021Roll 3000 ETH https://cryptoslate.com/hackers-steal-3000-eth-from-roll-causing-massive-price-dumps-of-nearly-100/March 17, 2021Iron Finance $170,000 https://bitcointalk.org/index.php?topic=5267124.msg56605708#msg56605708March 20, 2021TurtleDex 9000 BNB =2.4M $ https://bitcointalk.org/index.php?topic=5267124.msg56617046#msg56617046April 4, 2021Force DAO - $367 000 https://bitcointalk.org/index.php?topic=5267124.msg56864596#msg56864596April 19, 2021EasyFi DeFi protocol - 6M $ https://bitcointalk.org/index.php?topic=5267124.msg56835129#msg56835129May 2, 2021Spartan Protocol - 30Mhttps://bitcointalk.org/index.php?topic=5267124.msg56919497#msg56919497May 9, 2021Rari Capital - 10Mhttps://bitcointalk.org/index.php?topic=5267124.msg57018020#msg57018020May 12, 2021(DeFi) protocol xToken - 24.5Mhttps://bitcointalk.org/index.php?topic=5267124.msg56997287#msg56997287May 20, 2021Pancake Bunny - 200Mhttps://bitcointalk.org/index.php?topic=5267124.msg57050581#msg57050581May 20, 2021Venus Incident Report https://bitcointalk.org/index.php?topic=5267124.msg57054439#msg57054439May 27, 2021Wild Credit $ 637K. All funds were returned to the protocol.https://bitcointalk.org/index.php?topic=5267124.msg57106288#msg57106288May 28, 2021DeFi project BurgerSwap - $ 7.2Mhttps://bitcointalk.org/index.php?topic=5267124.msg57106299#msg57106299May 30, 2021DeFi project Belt Finance - $ 6.2Mhttps://bitcointalk.org/index.php?topic=5267124.msg57120256#msg57120256Jyne 21, 2021DeFi project Impossible finance - $ 0.5Mhttps://bitcointalk.org/index.php?topic=5267124.msg57284357#msg57284357Jyne 28, 2021Safe Dollar - $ 0.25Mhttps://bitcointalk.org/index.php?topic=5267124.msg57340075#msg57340075July 1, 2021WhaleFarm- $ 2Mhttps://bitcointalk.org/index.php?topic=5267124.msg57367513#msg57367513July 11, 2021ChainSwap - $8Mhttps://bitcointalk.org/index.php?topic=5267124.msg57439162#msg57439162July 15, 2021Bondly Finance - Token Price Tankshttps://bitcointalk.org/index.php?topic=5267124.msg57473981#msg57473981July 16, 2021THORChain - 2500 ETHhttps://bitcointalk.org/index.php?topic=5267124.msg57471971#msg57471971August 4, 2021Popsicle Finance - 25Mhttps://bitcointalk.org/index.php?topic=5267124.msg57613393#msg57613393August 10, 2021PolyNetwork - 600Mhttps://bitcointalk.org/index.php?topic=5267124.msg57662150#msg57662150August 12, 2021Poly Network Hacker Returns $342 Million https://bitcointalk.org/index.php?topic=5267124.msg57677686#msg57677686August 13, 2021Maze Protocol - 4Mhttps://bitcointalk.org/index.php?topic=5267124.msg57691964#msg57691964August 14, 2021DAO Maker - 7Mhttps://bitcointalk.org/index.php?topic=5267124.msg57677718#msg57677718August 19, 2021Ethereum DEX Avoids $350M DeFi Hack https://bitcointalk.org/index.php?topic=5267124.msg57731551#msg57731551August 29, 2021xToken- 4,5Mhttps://bitcointalk.org/index.php?topic=5267124.msg57820934#msg57820934August 30, 2021Cream Finance- 19Mhttps://bitcointalk.org/index.php?topic=5267124.msg57820934#msg57820934August 31, 2021Aurory Project- 0,5Mhttps://bitcointalk.org/index.php?topic=5267124.msg57835544#msg57835544September 4, 2021DAO Maker- 4Mhttps://bitcointalk.org/index.php?topic=5267124.msg57857298#msg57857298September 10, 2021AFKSystems - 12Mhttps://bitcointalk.org/index.php?topic=5267124.msg57910886#msg57910886September 12, 2021Zabu Finance - 3,2Mhttps://bitcointalk.org/index.php?topic=5267124.msg57923560#msg57923560 ! September 17, 2021MISO IDO platform (Hack and return of coins) - 865 ETH (3M)https://bitcointalk.org/index.php?topic=5267124.msg57957934#msg57957934 September 20, 2021pNetwork Protocol - $12Mhttps://bitcointalk.org/index.php?topic=5267124.msg57980467#msg57980467 September 21, 2021Vee.Finance - $35Mhttps://bitcointalk.org/index.php?topic=5267124.msg57995378#msg57995378 September 30, 2021Compound bug - $80Mhttps://bitcointalk.org/index.php?topic=5267124.msg58062585#msg58062585October 15, 2021Indexed Finance - $16Mhttps://bitcointalk.org/index.php?topic=5267124.msg58188360#msg58188360October 20, 2021PancakeHunny - $1,9Mhttps://bitcointalk.org/index.php?topic=5267124.msg58236768#msg58236768October 27, 2021Cream Finance - $130Mhttps://bitcointalk.org/index.php?topic=5267124.msg58283286#msg58283286November 5, 2021bZx - $55Mhttps://bitcointalk.org/index.php?topic=5267124.msg58355796#msg58355796November 30, 2021MonoXFinance $31 Mhttps://bitcointalk.org/index.php?topic=5267124.msg58586607#msg58586607December 1, 2021BadgerDAO $100 Mhttps://bitcointalk.org/index.php?topic=5267124.msg58599650#msg58599650December 4, 2021Polygon 801,601 MATIC tokens worth more than $2 millionhttps://bitcointalk.org/index.php?topic=5267124.msg58857717#msg58857717December 8, 20218IGHT FINANCE- $1.75Mhttps://bitcointalk.org/index.php?topic=5267124.msg58790597#msg58790597December 11, 2021Gelato- $26Mhttps://bitcointalk.org/index.php?topic=5267124.msg58790597#msg58790597December 13, 2021Vulcan Forged- $140Mhttps://bitcointalk.org/index.php?topic=5267124.msg58790597#msg58790597December 21, 2021Grim Finance $30Mhttps://bitcointalk.org/index.php?topic=5267124.msg58790597#msg58790597December 22, 2021Visor Finance - $8.8Mhttps://bitcointalk.org/index.php?topic=5267124.msg58808603#msg58808603December 27, 2021Metaswap Gas (MGAS) 1,100 BNBhttps://bitcointalk.org/index.php?topic=5267124.msg58909773#msg58909773December 27, 2021METADAO 800 Etherhttps://bitcointalk.org/index.php?topic=5267124.msg58909773#msg58909773____ Reports 2021 Hackhttps://bitcointalk.org/index.php?topic=5267124.msg59405892#msg594058922022January 1,2022Tinyman - the amount of hacking is unknownhttps://bitcointalk.org/index.php?topic=5267124.msg58909773#msg58909773January 11,2022Lympo NFT platform- $18.7 millionhttps://bitcointalk.org/index.php?topic=5267124.msg58968153#msg58968153January 28,2022Qubit Finance, X-Bridge $80M https://bitcointalk.org/index.php?topic=5267124.msg59097768#msg59097768February 2,2022Wormhole $326 M https://bitcointalk.org/index.php?topic=5267124.msg59144112#msg59144112February 4,2022KLAYswap $1,83 M https://bitcointalk.org/index.php?topic=5267124.msg59153910#msg59153910February 8,2022DeFi Meter $4,3 M https://bitcointalk.org/index.php?topic=5267124.msg59189702#msg59189702February 8,2022DeFi QiDao Protocol $13 M https://bitcointalk.org/index.php?topic=5267124.msg59191163#msg59191163February 11,2022Dego damage is assessed https://bitcointalk.org/index.php?topic=5267124.msg59218259#msg59218259March 03,2022Treasure DAO $1,44 Mhttps://bitcointalk.org/index.php?topic=5267124.msg59412238#msg59412238March 10,2022Fantasm Finance $2.6 Mhttps://bitcointalk.org/index.php?topic=5267124.msg59484103#msg59484103March 16,2022DeFi Agave и Hundred Finance $11 Mhttps://bitcointalk.org/index.php?topic=5267124.msg59484103#msg59484103March 18,2022Rare Bears $800Khttps://bitcointalk.org/index.php?topic=5267124.msg59705205#msg59705205March 21,2022Li Finance $600K https://bitcointalk.org/index.php?topic=5267124.msg59594924#msg59594924March 22,2022OneRing Finance $2M https://bitcointalk.org/index.php?topic=5267124.msg59615100#msg59615100March 23,2022Ronin sidechain $622Mhttps://bitcointalk.org/index.php?topic=5267124.msg59705205#msg59705205April 1,2022Bored Ape Yacht Club $0,549Mhttps://bitcointalk.org/index.php?topic=5267124.msg59717956#msg59717956April 2,2022Inverse Finance $15,6Mhttps://bitcointalk.org/index.php?topic=5267124.msg59738961#msg59738961April 7,2022WonderHero $320 000https://bitcointalk.org/index.php?topic=5267124.msg59811006#msg59811006April 8,2022Starstream $4Mhttps://bitcointalk.org/index.php?topic=5267124.msg59827200#msg59827200April 12,2022Elephant Money $22Mhttps://bitcointalk.org/index.php?topic=5267124.msg59849629#msg59849629April 18,2022Beanstalk $182Mhttps://bitcointalk.org/index.php?topic=5267124.msg59913835#msg59913835April 20,2022Deus Finance $13.4Mhttps://bitcointalk.org/index.php?topic=5267124.msg59992176#msg59992176April 28,2022DEFI Lender Rari Capital $80Mhttps://bitcointalk.org/index.php?topic=5267124.msg60014661#msg60014661May 31,2022Mirror Protocol $2Mhttps://bitcointalk.org/index.php?topic=5267124.msg60269928#msg60269928May 4,2022Yacht Club (BAYC) $0,36Mhttps://bitcointalk.org/index.php?topic=5267124.msg60292687#msg60292687June 7,2022Maiar DEX $1,65Mhttps://bitcointalk.org/index.php?topic=5267124.msg60309763#msg60309763June 8 ,2022Interlayer Snafu $20Mhttps://bitcointalk.org/index.php?topic=5267124.msg60320761#msg60320761June 16 ,2022Inverse Finance $1,2Mhttps://bitcointalk.org/index.php?topic=5267124.msg60377788#msg60377788June 24 ,2022Harmony $100Mhttps://bitcointalk.org/index.php?topic=5267124.msg60431403#msg60431403June 30 ,2022NFT marketplace Quixotic $0,1Mhttps://bitcointalk.org/index.php?topic=5267124.msg60485134#msg60485134July 3 ,2022Crema Finance $6Mhttps://bitcointalk.org/index.php?topic=5267124.msg60500284#msg60500284refund https://bitcointalk.org/index.php?topic=5267124.msg60525793#msg60525793July 3 ,2022OMNI protocol 1300 ETHhttps://bitcointalk.org/index.php?topic=5267124.msg60550807#msg60550807July 12 ,2022Ethereum in Massive Phishing Attack $8Mhttps://bitcointalk.org/index.php?topic=5267124.msg60559895#msg60559895July 19 ,2022PREMINT $0,4Mhttps://bitcointalk.org/index.php?topic=5267124.msg60597872#msg60597872July 24 ,2022Audius $1,1Mhttps://bitcointalk.org/index.php?topic=5267124.msg60639264#msg60639264July 28 ,2022Nirvana $3,5Mhttps://bitcointalk.org/index.php?topic=5267124.msg60647575#msg60647575August 2 ,2022Nomad Bridge $150Mhttps://bitcointalk.org/index.php?topic=5267124.msg60676431#msg60676431Over $36 Million Bacк https://bitcointalk.org/index.php?topic=5267124.msg60727075#msg60727075August 9 ,2022Protocol Curve $0,57Mhttps://bitcointalk.org/index.php?topic=5267124.msg60727075#msg60727075August 30 ,2022OptiFi $0,661Mhttps://bitcointalk.org/index.php?topic=5267124.msg60898572#msg60898572September 1 ,2022Kyber Network $0,265Mhttps://bitcointalk.org/index.php?topic=5267124.msg60859039#msg60859039September 7 ,2022Nereus Finance $0,37Mhttps://bitcointalk.org/index.php?topic=5267124.msg60898716#msg60898716September 8 ,2022New Free DAO $1,25Mhttps://bitcointalk.org/index.php?topic=5267124.msg60936613#msg60936613September 20 ,2022Wintermute $160Mhttps://bitcointalk.org/index.php?topic=5267124.msg60974088#msg60974088September 27 ,2022address exploit $0,95Mhttps://bitcointalk.org/index.php?topic=5267124.msg61024467#msg61024467October 02 ,2022Transit Swap $21M and return $18.9Mhttps://bitcointalk.org/index.php?topic=5267124.msg61066552#msg61066552October 07 ,2022BNB BRIDGE $80M https://bitcointalk.org/index.php?topic=5267124.msg61079836#msg61079836October 11 ,2022DeFi Service Mango $100M https://bitcointalk.org/index.php?topic=5267124.msg61107825#msg61107825Mango exploiter (Avraham Eisenberg) arrested https://bitcointalk.org/index.php?topic=5267124.msg61508069#msg61508069October 12 ,2022TempleDAO $2,3M https://bitcointalk.org/index.php?topic=5267124.msg61107825#msg61107825October 18 ,2022Celo Protocol Moola Market $10M recovered over 93% funds https://bitcointalk.org/index.php?topic=5267124.msg61148417#msg61148417October 26 ,2022Decentralized exchange QuickSwap exploited for $220Khttps://bitcointalk.org/index.php?topic=5267124.msg61188392#msg61188392October 28 ,2022Team Finance DeFi protocol $15.8 millionhttps://bitcointalk.org/index.php?topic=5267124.msg61199142#msg61199142November 02 ,2022decentralized Rubic exchange $1.2 millionhttps://bitcointalk.org/index.php?topic=5267124.msg61226574#msg61226574November 02 ,2022Deribit crypto exchange $28Mhttps://bitcointalk.org/index.php?topic=5267124.msg61226602#msg61226602November 04 ,2022DeFi Protocol Solend $1.26M https://bitcointalk.org/index.php?topic=5267124.msg61238487#msg61238487November 15 ,2022DFX Finance Hacked $4Mhttps://bitcointalk.org/index.php?topic=5267124.msg61301029#msg61301029November 15 ,2022DeFi project Flare on hacked. $17.9 millionhttps://bitcointalk.org/index.php?topic=5267124.msg61301029#msg61301029December 02 ,2022Ankr DeFi protocol $15 millionhttps://bitcointalk.org/index.php?topic=5267124.msg61381777#msg61381777December 11 ,2022lodestar finance $7Mhttps://bitcointalk.org/index.php?topic=5267124.msg61426658#msg61426658December 17 ,2022Solana DeFi Exchange Raydium $2Mhttps://bitcointalk.org/index.php?topic=5267124.msg61457362#msg61457362December 25 ,2022Rubic DEX $1.4Mhttps://bitcointalk.org/index.php?topic=5267124.msg61510118#msg61510118December 26 ,2022Defrost Finance hack & returned $12Mhttps://bitcointalk.org/index.php?topic=5267124.msg61510118#msg61510118_______________________________________________________________ 2023 DeFi hacks. Continuationhttps://bitcointalk.org/index.php?topic=5267124.msg61709519#msg61709519_______________________________________________________________ Report for 4 months 2022https://bitcointalk.org/index.php?topic=5267124.msg60045276#msg60045276https://cryptosec.info/defi-hacks/https://rekt.news/https://hacked.slowmist.io/Funds Stolen from Crypto Platforms 2016-2023 https://www.chainalysis.com/blog/crypto-hacking-stolen-funds-2024/Russianhttps://bitcointalk.org/index.php?topic=5227888.0 |
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FinneysTrueVision
Sr. Member
Offline
Activity: 1638
Merit: 353
Top Crypto Casino
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August 06, 2020, 09:57:09 PM |
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cryptoaddictchie
Legendary
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Activity: 2058
Merit: 1315
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August 07, 2020, 05:38:22 AM |
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Ive read before the issue on Uniswap when BZRX launches their IDO but as Ive read the article the author explained how the guy made 500k usd but not in the form of hack but incorporate a defi trading bot. As far as Ive known, using bots on trading is common its just happened that we can see now the cons of smart contract where it can be easily penetraded by the likes of this. Im not sure whether this included or considered as hack history. Actually the guy is smart. Does he violate any rule on dex? Not sure but this could be raise on authority as one of the example of threats on defi business. |
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foxy
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August 07, 2020, 09:00:21 AM |
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In a short period, a lot of DeFi projects got hacked. I invested in BAL kinda at a peak and as soon as news about hack broke price fell sharply but, now thanks to binance listing and BTC price surge I was able to break even on my investment. Got lucky i guess.
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hrunya102
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Activity: 546
Merit: 11
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August 07, 2020, 09:51:39 AM Merited by NotATether (1) |
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Decentralized Finance in the event of a hack, you have no one to complain to, and this is probably the main reason why I do not use DEFI to the full.
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r32godzilla
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August 07, 2020, 10:21:19 AM |
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Thanks! It is very important to give people real information. People think that decentralized finances do not have any risks! But it is absolutely vice versa. It is a new industry, new code, no one tested it for a long time, so be careful and invest only what you can afford.
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wmaurik
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August 07, 2020, 12:40:57 PM |
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Good thread, and it seems like this can make people who want to invest in DeFi to increase their knowledge so they don't regret after buying DeFi coin, in addition to hacking cases there are actually also frequent exit scams like this $100 DeFi coin which can drop to $9 less in one week.
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zasad@ (OP)
Legendary
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Activity: 1736
Merit: 4270
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August 07, 2020, 01:08:33 PM |
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If you look at the losses, this is a small amount compared to what was stolen from crypto exchanges. I use defi for exchange, hedging, but I do not recommend newcomers to invest in pools. You can make a profit as well as incur a loss if someone makes a successful arbitration. https://furucombo.app/I will recommend an interesting project to get acquainted with defi. It allows almost any user to experience the defi ecosystem without having enough knowledge and coins. |
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foxy
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August 08, 2020, 07:12:38 AM |
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If you look at the losses, this is a small amount compared to what was stolen from crypto exchanges. I use defi for exchange, hedging, but I do not recommend newcomers to invest in pools. You can make a profit as well as incur a loss if someone makes a successful arbitration. https://furucombo.app/I will recommend an interesting project to get acquainted with defi. It allows almost any user to experience the defi ecosystem without having enough knowledge and coins. @zasad this is a really impressive project before I had to go to different DeFi sites to complete an arbitrage trade but, here it's all simple and from one site. This will also save me from some price slippage if I am correct. Bookmarked and thanks  |
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dondonk
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August 08, 2020, 09:09:03 AM Merited by NotATether (1) |
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It's amazing that in just 1 year there have been 9 attacks on decentralized finance. it is a challenge for developers to fix the system to cover the loopholes that could be harmful. also to realize a new and better security system.
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seven.71
Sr. Member
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Activity: 770
Merit: 251
live the dream but don't live the dream
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August 08, 2020, 03:53:21 PM |
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too overhype DEFI even there are a lot of attack events that occur, the average attack is by manipulating smart contracts, and it's done repeatedly as if they understand the weaknesses that exist, and it's been just a few terrible days |
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zasad@ (OP)
Legendary
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Activity: 1736
Merit: 4270
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August 08, 2020, 08:53:03 PM |
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If you look at the losses, this is a small amount compared to what was stolen from crypto exchanges. I use defi for exchange, hedging, but I do not recommend newcomers to invest in pools. You can make a profit as well as incur a loss if someone makes a successful arbitration. https://furucombo.app/I will recommend an interesting project to get acquainted with defi. It allows almost any user to experience the defi ecosystem without having enough knowledge and coins. @zasad this is a really impressive project before I had to go to different DeFi sites to complete an arbitrage trade but, here it's all simple and from one site. This will also save me from some price slippage if I am correct. Bookmarked and thanks The project is excellent, but finding an arbitration opportunity to earn money is a very difficult process. In practice, I myself constantly face the problem of large commissions, when when exchanging tokens or stablecoins for 1000 dollars, I have to pay 30-50 dollars in commission. At such a cost, this system cannot compete with centralized exchanges. And by the launch of the 2nd phase of ETH 2.0, it is possible that user-friendly interfaces for many projects will be made, and then a new milestone in the world of cryptocurrencies will come. |
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royalfestus
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August 08, 2020, 10:06:15 PM |
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I think the pump in price of ethereum is also instrumental in the dump of other DEFI, if after any long sideway price move of ethereum we dont see some come back of the DEFI then I might probably have a rethink on them. Actually I dont expect a 100% success of every DEFI coin because the team and community defers in capacity of project development and financial strength. Some still believe it is a good way to pull back the market to start the bull run.
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hatshepsut93
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August 09, 2020, 03:37:17 AM |
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If you look at the losses, this is a small amount compared to what was stolen from crypto exchanges. I use defi for exchange, hedging, but I do not recommend newcomers to invest in pools. You can make a profit as well as incur a loss if someone makes a successful arbitration. https://furucombo.app/I will recommend an interesting project to get acquainted with defi. It allows almost any user to experience the defi ecosystem without having enough knowledge and coins. The amount is small because the amount of funds in DeFi is also small. If you want to compare the two, you should use percentages of total funds. In DeFi the losses are pretty big, like a half of the funds or all of the funds. With exchanges, they generally don't lose all their money if it's no an exit scam. Their how wallets is just a fraction of the coins that they hold. And if you take this year, it's clear that there was more of the DeFi hacks than exchange hacks. So, thinks kinda look not good for DeFi, though it seem to have no effect on hype for now. |
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jacafbiz
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August 10, 2020, 12:07:34 PM |
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All these hacks are bound to happen with DEFI space just getting the attention recently hacker are bound to look for vulnerabilities in the system and exploit it but the main question is if the team would learn from mistakes and make the space better
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bbc.reporter
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August 14, 2020, 05:02:56 AM |
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There were 2 more Defi smart contracts that had bugs that were exploited again. Where did these developers come from? I reckon some of them might be the unqualified developers who were rejected or will be rejected by legitimate tech companies. I am sorry. I do not want to call them bad, however, investors are losing money because of their incompetence. DeFi meme coin YAM has succumbed to a bug within its rebase function, meaning the coin has lost control of its on-chain governance feature.
All of the roughly $750,000 Curve tokens stored in the project's treasury are lost as well, according to a Medium blog from the team.Source https://www.coindesk.com/defi-meme-coin-yam-succumbs-to-fatal-rebase-bugThe CRV token officially, yet unexpectedly, launched at 6:25 PM EST today after an anonymous user, apparently unilaterally, deployed the open-source CRV token and CurveDAO contracts on the Ethereum mainnet earlier in the day. Source https://decrypt.co/38708/anonymous-defi-user-deploys-curve-crv-token-early |
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cryptoaddictchie
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August 14, 2020, 07:22:57 AM |
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however, investors are losing money because of their incompetence.
Aside from the bugs and developer's incompetence. I dont think we should shift the blame on them alone. There is also some problem on the side of investors. They just keep jumping off any defi projects that they will saw without much any knowledge on the tech and its function. Im sure 2 of these defi projects have been bought by fomo squads. Definitely when they already on rekt mode, they will spat scam on these. Typical but thats how the cycle rolls and curve will likely be a hot token for being listed on Binance. |
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bbc.reporter
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August 15, 2020, 05:07:45 AM |
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@cryptoaddictchie. I am not talking about the scams on the market and how we are manipulated to lose our investments. This thread is about hacks and exploits because of developer incompetence.
Is this really the future of finance? This is the comedy of the cryptospace.
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cryptoaddictchie
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August 15, 2020, 05:20:20 AM |
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@cryptoaddictchie. I am not talking about the scams on the market and how we are manipulated to lose our investments.
Im aware dude. I just given emphasize on the quoted part. But thanks for sharing the info about the incident especially on yam's case. Though that incident doesnt really can be called hacked but like what you said lack of competence and failure to accomplish its goal.
Is this really the future of finance? This is the comedy of the cryptospace.
Well in fairness some agree to that. But seriously, in my opinion only few of them makes that comedy. Not all are shit but some have good ideals too. |
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