DeFi Hacks exposed as 'Dumb Mistakes,' Not on-chain flaws

[Anonymous No.56336236]

Whether a particular issue in DeFi is genuinely a "dumb mistake" or a more complex security vulnerability can vary from case to case. It's not a matter of categorizing all DeFi hacks as "dumb mistakes" or blaming the projects, but rather a call for enhanced security practices and awareness in the DeFi space. Wake up fog.

[Anonymous No.56336286]

>>56336236
It just goes to show that a lot of the space is filled with rookies.

[Anonymous No.56336455]

>>56336286
Yeah, needed more improvements

[Anonymous No.56336635]

>>56336236
enhanced security? When?

[Anonymous No.56336659]

>>56336236
How is it possible?

[Anonymous No.56336697]

>>56336236
Keep hearing defi hacks every week. It's not healthy anymore.

[Anonymous No.56336765]

>>56336236
Ask the hackers on how

[Anonymous No.56336790]

>>56336236
Dumb mistake? Or intentionally?

[Anonymous No.56336893]

>>56336236
I don't know what to believe anymore

[Anonymous No.56336949]

>>56336236

[Anonymous No.56337016]

>>56336236
Focus on holding major bags: BTC ETH MATIC DOT HBAR KAVA

[Anonymous No.56337046]

>>56336236
Simple solution: don't interact with DeFi things

[Anonymous No.56337064]

>>56336236
Devs can be hackers so it can be an inside job. They need money. They need to lie

[Anonymous No.56337181]

>>56336236
Use Cryptocom and everyone will have peace of mind

[Anonymous No.56337491]

>>56336236
BITGET is key.

[Anonymous No.56337504]

>>56336236
CryptoCom

[Anonymous No.56337532]

>>56336236
Many DeFi platforms operate on smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller directly written into code. If these smart contracts contain vulnerabilities or bugs, they can be exploited by malicious actors to steal funds or manipulate the system.

[Anonymous No.56337543]

>>56336236
It's bullshit reason

[Anonymous No.56337621]

>>56336236
The more complex the system, the higher the likelihood of undiscovered vulnerabilities. This complexity makes thorough auditing and testing crucial but challenging.

[Anonymous No.56337656]

>>56337491
>>56337491
>>56337504
Why?

[Anonymous No.56337746]

>>56336236
You know what folks? DeFi platforms often operate in a regulatory gray area or outside traditional financial regulations. While this is one of the features that attracts users to DeFi, it also means there's less oversight, which can lead to vulnerabilities and fraudulent activities.

[Anonymous No.56337755]

>>56336236
Although some DeFi projects conduct security audits, these audits are not always thorough or comprehensive. In some cases, projects may rush to release their products, neglecting proper security practices.

[Anonymous No.56337763]

>>56336236
There are just users who got scammed easily

[Anonymous No.56337771]

>>56336236

[Anonymous No.56337783]

>>56336236
Users can make mistakes, such as sending funds to the wrong address or interacting with a malicious contract due to a lack of understanding or cautionm

[Anonymous No.56337805]

>>56336236
I know this is happening

[Anonymous No.56337825]

>>56336236
I don't like watching hacking news everyday. I'm out

[Anonymous No.56337837]

>>56336236
It's possible for DeFi projects to pay for security audits and then claim that their platform is secure or audited, even if the audit may not have been thorough or objective. This practice can be misleading, as it creates a false sense of security for users and potential investors.

[Anonymous No.56337847]

>>56336236
It's all about money, money, money

[Anonymous No.56337856]

>>56336236
Quit crypto and become poor.

[Anonymous No.56337873]

>>56336236
Do your own research folks.

[Anonymous No.56337892]

>>56336236
Choose beefy finance. No issues.

[Anonymous No.56337904]

>>56336236
Wt????

[Anonymous No.56338008]

>>56337064
That could be a point Anon, but that'll most likely happen in projects that seem to be losing the fuck where they are going. That shit hardly happens with the devs from the likes of ETH, Matic, Zpay, and RIDE that development and advancement of the project is what they've been showing. Most hacks will not happen if keys are properly taken care of.

[Anonymous No.56338124]

Day 5 of posting about nyancatmoney.com 500 times a day until we are over $1 each. This is post 1608. The price has gone up 50% since the last time we posted. Holders have increased by 10.

p.s. we have a meme contest going on for the next two weeks, join the telegram or discord to enter and win.

[Anonymous No.56338216]

Day 5 of posting about nyancatmoney.com 500 times a day until we are over $1 each. This is post 1658. The price has gone up 50% since the last time we posted. Holders have increased by 10.

p.s. we have a meme contest going on for the next two weeks, join the telegram or discord to enter and win.

[Anonymous No.56338287]

Day 5 of posting about nyancatmoney.com 500 times a day until we are over $1 each. This is post 1658. The price has gone up 50% since the last time we posted. Holders have increased by 10.

p.s. we have a meme contest going on for the next two weeks, join the telegram or discord to enter and win.

[Anonymous No.56338358]

>>56338008
I don't get it

[Anonymous No.56338751]

>>56337825
Come on! Who likes witnessing DeFi hacks? It's a definite 'no' for me, as we all strive for secure and reliable platforms to use.

[Anonymous No.56338764]

>>56337491
Bitget is secure but note that some crypto have stronger security protocols than others. Check those account abstraction projects anon.

[Anonymous No.56338778]

>>56338751
And there is nothing secure anymore

[Anonymous No.56338828]

>>56337016
Eth and btc are major bags the rest is scams. Also your newfag is showing

[Anonymous No.56338834]

>>56338358
>>56338008
He's shilling his shitcoin scambags zpay matic and ride

[Anonymous No.56338838]

>>56338778
Not all DeFi platforms lack security; some are secure. While there have been security issues, they should work on improving as they move forward, which will aid in mass adoption anon.

[Anonymous No.56338866]

>>56338838
What do you recommend?

[Anonymous No.56338897]

>>56338834
>Zpay eww
>>56338838
Developers are just hungry for money

[Anonymous No.56338905]

>>56336455
It's CARDANO TIME BITCH

[Anonymous No.56338956]

>>56338866
I don't understand, and if you're asking which DeFi platform to use, I won't recommend any. I'll leave it to you to do your own research, anon.
>>56338897
Well, you're not wrong. Many developers still have good intentions to enhance user experience and data privacy. Take Brillion, for example, leveraging Nexera ID tech.

[Anonymous No.56338993]

>>56338905
It's cardiacno

[Anonymous No.56339052]

>>56338956
Allianceblock product. It's not surprising

[Anonymous No.56339097]

weird bot thread

[Anonymous No.56339136]

>>56337847
Anything is possible.

[Anonymous No.56339152]

>>56338764
AA wallets unlocks transaction flexibility, empowering users to customize their transaction rules to their liking, Anon.

[Anonymous No.56339155]

>>56338834
Shilling matic. Just purchase btc

[Anonymous No.56339166]

>>56338956
I'm not surprised, Pajeet. NexeraID's capabilities in account recovery and compliance solutions are certainly noteworthy.

[Anonymous No.56339171]

>>56338956
I think it needs a working product first. There are many crypto wallets in the space, competitive features will surely outperform the rest.

[Anonymous No.56339184]

>>56339052
Alliance Block is a game changer. I've come across news about a smart wallet soon to be powered by their innovative product.

[Anonymous No.56339278]

>>56339184
An innovative product is good, but they should understand that it need more users to get onboard; otherwise, it may become useless. Mass adoption is what the space needs.

[Anonymous No.56339296]

>>56339278
It's lit, Noob. This stuff brings some serious upgrades, especially when it comes to user experience and getting everyone on board.

[Anonymous No.56339308]

>>56339152
Do you trust this new innovation that has not stood the test of time?
There is no doubt that they have a very innovative approach and concept to onboarding new users, but one thing that I'm not clear about is the security framework.

[Anonymous No.56339313]

>>56339052
Holding their NXRA token alongside DUA. With these in my portfolio, I'm all set for the bull run

[Anonymous No.56339350]

>>56338828
Grow up anon. BTC is like your stock's long-time investment, if you want to profit in less period of time buy altcoins DUA, NXRA, and INJ are good to go

[Anonymous No.56339361]

>>56339350
Fuck

[Anonymous No.56339366]

>>56338838
I still feel DeFi is far from achieving an optimum security framework. As much as the space is evolving, it seems much attention is being given to other aspects. You will hardly hear of a security breach on the custodial platform.

[Anonymous No.56339367]

>>56339152
You've been spotted, Anons! Thanks to the recent drop of EIP-4337, devs can now flex the option to link up with your email or socials when whipping up a wallet.

[Anonymous No.56339393]

>>56339361
Based list anon take it or get scam
>>56339313
Solid concept, but you'll end up being a brainlet just holding onto those assets.

[Anonymous No.56339443]

>>56339308
What is your point, Anon? Some wallets, like Brillion, will allow Pajeet to freeze compromised accounts and require 2FA for transactions above $50.

[Anonymous No.56339474]

>>56339367
It enables oldfags to harness blockchain apps without the hassle of wallet creation or the intricacies of managing private keys.

[Anonymous No.56339485]

>>56339296
A good user experience and added benefits will attract a broader audience to the platform. It's all about offering a complete package. That's just my observation.

[Anonymous No.56339498]

>>56339443
>2FA for transactions above $50.
This is dependent on social login or some form of login to achieve this, I presume? If it is, then it depends on a centralized hierarchy. How is privacy put into shape in this case?

[Anonymous No.56339532]

>>56339498
Social log in is web2 and they are all not secure. Think think think

[Anonymous No.56339551]

>>56339367
Chill, Anon, no need to go overboard. This revolution is in the making, and lots of projects are starting to plug this standard into their apps. Fingers crossed for what's cooking.

[Anonymous No.56339581]

>>56339485
I still don't get the point of this. Does the existing traditional wallet lack these features? I don't think so.
And if you think so, provide a clearer picture of why you think account abstraction has a better edge over EOA.

[Anonymous No.56339615]

>>56339474
Adoption is slowing down the process. But bo you think it could potentially bridge the gap for newbies too, or is the learning curve still a hurdle?

[Anonymous No.56339618]

>>56336236
It's the pretty reason I'm comfortable using my CryptMI app since it's security and privacy is strong.

[Anonymous No.56339653]

>>56339532
They are, but implementing this in self-custody might just defy the essence and core narrative of DeFi, except there's a unique approach that keeps things in shape, like the use of SSI, but the issuance also matters.

[Anonymous No.56339694]

>>56339581
AA is not necessarily better than EOA; they serve different purposes and have their own advantages. The choice depends on what you want to achieve in your blockchain or smart contract development. Don't make things complicated anon.

[Anonymous No.56339716]

>>56339581
It's all about progress and evolution. This standard is gaining traction, and many exciting projects are integrating it into their apps

[Anonymous No.56339781]

>>56339581
Hey, Anon, pay attention! This practice is crucial it cuts down the security risks linked to using identical passwords across different websites. Stay smart and keep those accounts safe.

[Anonymous No.56339783]

>>56339716
There's not even changes even in the market fuck

[Anonymous No.56339832]

>>56339783
You are dumb Underperformed impressively during bull run, dumped endlessly during bear.market. dyor on self-custody wallets also

[Anonymous No.56339875]

>>56339694
This is one of the most brilliant comments I've seen in this thread. I hope this big move disrupts conventional ones because they're basically scaling.

[Anonymous No.56339926]

>>56339875
Compatibility issues still exist, and not all dApps are a perfect fit. It's important to ensure seamless integration with its advanced features. As Ethereum evolves, dApp devs adapt to new features, which could lead to better compatibility over time.

[Anonymous No.56340177]

>>56338993
What do you mean?

[Anonymous No.56340303]

>>56339832
Self-custodial wallets are based anon, especially with the frequent CEX meltdowns and hacks in the space.

[Anonymous No.56340584]

>>56340177
I think anon meant to say cardano

>>56339716
Wen lambo

[Anonymous No.56340797]

>>56339532
No doubt that the social logins could be compromised and would need to be improved upon for security. That's why most wallets use 2FA.

[Anonymous No.56340990]

>>56339783
You don't expect the market to change immediately anon

[Anonymous No.56341233]

>>56339474
Based anon, I even read about one with 0 gas fees when connecting to Dapps.

[Anonymous No.56341510]

>>56339361
Fuck who

[Anonymous No.56341518]

>>56339716
It will be worth waiting to see how this will scale in a few months or years, but my sentiment remains firm regardless.

[Anonymous No.56341541]

>>56339781
Smart respond. It seems many think this will eventually turn out to be the norm. Let's see to that. There's no doubt about the features they're onboarding; they look promising and solid, but the existing ones remain my options, except AA becomes highly speculated.

[Anonymous No.56341739]

>>56336236
Do you guys still think we do not need regulations? Defi can be decentralized and comply with DiDs. OreID and NexeraID were built for this.

[Anonymous No.56341943]

>>56339716
Like which ones

[Anonymous No.56342231]

>>56339184
Based anon, I'm part of the beta test team for the smart wallet and I'm anticipating adoption due to its account abstraction.

[Anonymous No.56342483]

>>56338897
Devs should give it a rest

>>56338905
Based

[Anonymous No.56342520]

>>56336236
Dont mean to toot my own horn, as i lost a couple hundred LINK in my early days.
But get a ledger, dont touch LP pools and complex smart contracts. You only send and receive funds with ledger and use a hot wallet to trade with that only holds small amounts.
Simple

[Anonymous No.56342560]

>>56339615
Adoption could scale with the introduction of AA wallets where users can access the space with their web2 social logins.

[Anonymous No.56342740]

>>56339155
Btc is based anon, especially with the halving closing in. I'd not lose sight of alts like LDO, DUA, and NXRA which are poised for long term gains.

[Anonymous No.56342934]

>>56340177
I would like to know as well

[Anonymous No.56342962]

>>56339615
Wen wordwide adoption?

[Anonymous No.56343064]

>>56339498
That would help in asset security anon. I also read that users would be able to freeze transactions on account if they suspect compromise.

[Anonymous No.56343102]

>>56338778
Do some fuckin research basedboy

>>56337856
Not your key not your coins

[Anonymous No.56343144]

>>56337504
Still a CEX anon, I'd rather hold my crypto in a decentralized SSI wallet for security.

[Anonymous No.56343161]

This entire thread is filled with pajeet shilling bots talking to one another and trying to mimic board lingo. God /biz/ is dead.

[Anonymous No.56344117]

>>56336236
Hmmfff

[Anonymous No.56344213]

>>56336236
Security needs to be taken seriously I'm glad that is what some L1 are focused on now, especially QAN

[Anonymous No.56345592]

>>56343064
PolygonID, EveresrID, and, NexeraID are big DiDs and can be a good compliance tool and way to improve security.

[Anonymous No.56346039]

>>56342520
Okay better

[Anonymous No.56346076]

Reminder polygon is used by the pajeet call center scammers to wash their stolen money and that means theres a massive constant downpressure on the market to cash out stolen funds.
https://www.youtube.com/watch?v=1XyJnck-jaQ
Its in one of these videos, he catches them talking about poly and asks them about it, and theyre taunting him about how its a crypto and hes dumb or something.

[Anonymous No.56346264]

>>56336236
Defi is good but it needs more regulations. Well, CryptMi is regulated and it is still doing well and it's flexible for payments.

[Anonymous No.56346486]

>>56346076
Only fools will get fooled on that

[Anonymous No.56347597]

>>56339615
AA enhances wallet design, user adoption, and the potential for a Web3 revolution. Move your lazy a$$ and dyor.

[Anonymous No.56347608]

>>56340797
Based, Anon. Users have the flexibility to set maximum withdrawal limits and time based spending restrictions, putting them in control of their wallet funds

[Anonymous No.56347688]

>>56336236
No matter what you all pajeets say, only post quantum cryptography projects are the secured crypto projects

[Anonymous No.56347707]

>>56336236
defi is a dumb mistake

[Anonymous No.56348853]

>>56342962
That will be when Qanplatform finally goes live with its public mainnet which will enable all developers to build dApps using any programming language of their choice