Kadan Stadelmann is the Chief Technology Officer (CTO) of Komodo (KMD), a decentralized, open-source blockchain and a major player in blockchain interoperability and atomic swap technology.
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2022 has illuminated problems in cross-chain bridge architecture
As of August 2022, there’s been $2 billion total in crypto losses, with 69% of stolen crypto funds originating from hacking protocols that bridge different blockchains.
The cross-chain token bridge Nomad, lost $190 million in an exploit a few weeks ago and layer-1 blockchain bridging protocol Harmony Horizon lost $100 million after a hack in June.
Earlier this year, Ronin lost $650 million and Wormhole lost $325 million. The Wormhole hack was caused by a fake deposit exploit. Attackers initiated a fake deposit and fooled the validators into approving a withdrawal of an equal size.
What do these hacks have in common? These bridges all used Automated market maker technology (AMMs). Here are three ways we can make...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...