In H1 2022, there have been 77 security incidents affecting crypto projects attributable to code exploits, access control issues, and flash loan attacks. As a result of these incidents, projects have lost $1.7B. The average amount of damage experienced by a project due to a hack is $26M. At the same time, the average price
Crypto projects should realize the scope of risks associated with smart contracts and know how to address them. The most common threats related to smart contracts are operational, implementation, and design risks. No changes can be introduced into a smart contract once it is deployed. How does the Smart Contract Audit Help? – Best Practices
What is a penetration test? A penetration test (ethical hacking) can be defined as an authorized cyberattack launched as part of a security audit to look at the system from a hacker’s perspective. Pentest reports are used to remediate discovered vulnerabilities to secure the system controls. Black Box Testing Also called “trial and error”, this
Not all influences are created equal. Some provide accurate and insightful information, while others deceive their readers. Unfortunately, some influencers show little integrity and may do more harm than good. The Qanon-linked scams mentioned in this article are dangerous because unsuspecting victims transfer their finances into scammers’ accounts while believing they are investing in the
On June 16, Inverse Finance’s Frontier money market fell victim to a flashloan attack that resulted in a net loss of $5.83 million in DOLA. The hacker got away with $1.2 million. The hacker used the price oracle manipulation, which misuses the balances of assets in the pool to calculate the LP token price directly.
NFTs, short for Non-fungible Tokens, have made waves in the crypto industry as they open ways to tokenize a wide range of digital and physical assets. NFTs allow creators to generate on-chain records of real-world assets that can be stored, readily verified, and transferred just like any cryptocurrency transaction. While NFTs aren’t assets alone, they
The best version of Web 3.0 should combine business and tech minds” Recently, Hacken’s marketing specialist Taras Talimonchuk conducted an interview with the CTO and Co-Founder of ScaleSwap, Stanislav ‘Stan’ Stolberg. ScaleSwap is one of the largest decentralized multi-chain fundraising platforms. Transparency and fairness are the key principles of ScaleSwap. In the interview, Stan shared
PoW and PoS are the most popular consensus mechanisms used in the blockchain. This article will explain the consensus mechanism, describe PoS and PoW, and explain their differences. Consensus Mechanism Proof of work (PoW) and proof of stake (PoS) are the two most widespread consensus mechanisms in the blockchain. A consensus mechanism is a method
Star Names Rug Pull On June 16, PeckShield Alert detected a rug pull in which scammers stole more than 1.6k BNB (around $350k) and laundered it via Tornado Cash. Before the drain, the attacker distributed 100 BNB among the following nine coins: Llama, Armadillo Coin, StarMan, SlothCoin, HellBender, BabyElon JackInTheBox, Starlink2, and ElonMVP. Fun fact:
