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DeFi Hacks So Good You’ll Want to Hack Yourself Just for the Thrill of Losing 57%

Crypto NewsDeFiHack 3 Linda Williams August 15, 2024

An illustration of a hacker wearing sunglasses and holding a megaphone while standing on top of a pile of cryptocurrency coins with dollar signs flying out into space. In the background is an explosion representing chaos caused by DeFi hacks. The hacker's arms are raised in triumph, but their feet are slipping off the edge of the coin stack as if they're losing control and falling towards the ground below. A large percentage sign (57%) appears above them with a downward arrow pointing to the coins below.

The grand finale for crypto exploiters seems to be near – or at least that’s what they’re hoping as their offchain attack vectors are getting more and more… creative. It turns out smart contract vulnerabilities aren’t the only thing these hackers have up their sleeve, nope! They’ve also got a secret arsenal of external vulnerabilities like user behavior (read: ignorance) to exploit

Source: cointelegraph

Top 100 DeFi Hacks: Offchain attack vectors account for 57% of losses
https://cointelegraph.com/news/top-100-de-fi-hacks-offchain-attack-vectors-account-for-57-of-losses
A comprehensive look at the 100 largest cryptocurrency hacks shows that onchain vulnerabilities only account for a minor segment of exploits. In fact, over 57.5% of the financial losses in the top 100 decentralized finance (DeFi) hacks were caused by offchain attack vectors, according to Mar Guimenez-Aguilar, the lead security architect at Halborn cybersecurity firm. The cybersecurity expert told Cointelegraph: The revelation comes nearly a month after a hacker stole […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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