The wormhole hack came quite early in the year. I guess there's no end in sight for DeFi hacks. Because we'll always have hackers in the space looking for loopholes to capitalize upon.
You now understand that the most secure place for your cryptocurrency is in a wallet, controlled by your private keys.
Absolutely! The safest place to store your assets appears to be a wallet, either hot or cold. Sadly, I learnt this the hard way as I suffered victim to an exchange hack.
On the whole, there is need for some DeFi protocols to heighten their security standards.
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I agree…
They are all vulnerable, and security is a longterm effect of patching/fixing vulnerabilities. Solana is a new generation of blockchains, with a different consensus mechanism. It’s exciting but it’s new, and we don’t yet know all it’s vulnerabilities. I don’t know if Solana knows all their vulnerabilities.
Exactly, why do Tibet’s rob banks. LOL
We all do this and we are all susceptible to loss. Sorry to hear it happened to you. We should all remember that one of us are immune. As the Folk tale says:
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I'm sure the grace of God will want us to be more careful...😁
Speaking of which,
If this is the case, what is the aim of auditing?
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Ha Ha Ha
I think this is both a funny and illuminating question. It seems that audits focus on know or old vulnerabilities. I don’t know how good they are at recognizing new ones.
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That's a sad situation then. It's necessary that focus be channeled on discovering loopholes and fixing them.
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True.
Fortunately this is an evolving space and audit companies are evolving also, but for now caution is imperative.
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