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Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking.
After being plagued for years by hackers seeking to exploit coding flaws to siphon funds from crypto projects, more assailants are now using the automated software programs that power DeFi platforms to manipulate transactions to gain control of the millions of dollars in assets locked in various protocols that allow users to borrow and lend without intermediaries.
Over the past weekend, the DeFi application Mango DAO agreed to let a self-proclaimed trader keep almost half of the $100 million in assets he seized in exchange for releasing the rest of the funds while promising no criminal prosecution. The technique used by the Mango exploiter has been tied to other high-profile attacks. Harvest Finance lost $34 million in 2020,...
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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...