In the first six months of 2022, Web3 projects have lost more than $2 billion to hacks and exploits — more than all of 2021 combined.
That’s according to research from blockchain auditing and security company CertiK, which on Thursday released its quarterly Web3 security report covering Q2 of this year. The report paints a sobering picture of a cryptocurrency space still plagued by hacks, scams, and phishing schemes while also facing relatively new threats like flash loan attacks.
CertiK puts particular focus on this last category of threat, which has been created by the invention of flash loans: a decentralized finance mechanism that lets borrowers access extremely large amounts of cryptocurrency for very short periods of time. If used...
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.