If your DeFi protocol is exploited there are some very good reasons to enter into negotiations and avoid calling the cops. (Via CointelegraphZN)
Brooks, however, believes you are obligated to get law enforcement involved at some point but warns the results are mixed, and the process takes a long time.
Plante takes a different view and believes the effectiveness of police in combating cybercrime is often poorly understood“Victims themselves are often working confidentially or under some confidential agreement,” she explains. “For example, in the case of Axie Infinity’s announcement of funds recovery, they had to seek approval from law enforcement agencies to announce that recovery. So, just because recoveries aren’t announced doesn’t mean that recoveries aren’t happening.
For DeFi developers wanting to build the most secure outcome, Amador recommends a combination of defensive measures: Brooks agrees and says part of the issue is there are a lot of developers with big Web3 ideas but who lack the required knowledge to keep their protocols safe. For example, a smart contract audit alone is not enough — “you need to see how that contract operates with oracles, smart contracts, with other projects and protocols, etc.”Stand your ground against thieves Plante says crypto’s open-source nature makes it more vulnerable to hacks than Web2 systems.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two killed, several hurt in Highway 101 collision caused by fallen tree south of GilroySeveral vehicles crashed after a tree fell on Highway 101, killing two people and injuring several others.
Read more »
Falling Tree Kills 2, Seriously Injures 4 on Highway 101 South of GilroyA eucalyptus tree that fell across the southbound lanes of Highway 101 in wet and windy conditions early Sunday caused three vehicles to crash, killing two people and injuring four others, according to the California Highway Patrol.
Read more »
Autel Energy Presents EV 101: EV Care & MaintenanceElectric vehicles require a lot less maintenance than traditionally powered vehicles. Our explainer tells you what you’ll need to know to maintain and enjoy your new EV.
Read more »
Introducing the Native Son 101 Class of 2022 ListThe alphabetical index honors 101 Black queer men who have made an impact this year in their respective fields.
Read more »
The Power of Your DeFi Portfolio Finally UnlockedThe DeFi space is maturing rapidly, with many innovative tools being developed to bring financial services to the crypto world. However, there is still plenty of work to be done if DeFi is to fulfill its vast potential. Sponsored content by merofinance:
Read more »
Dmitry Mishunin: Building the Standard of DeFi Security | HackerNoonI am Dmitry Mishunin, and for the last 5 years, I’ve been the CEO of HashEx – a tier-1 security and intelligence operation for DeFi. - meetthewriter hackernoonwriters
Read more »