Its been said for many years, the majority of electronic attack and theft is committed by current or former disgruntled employees. The majority of attacks in finance sectors are inside jobs.
In the USA the SEC prevents some of these scams by limiting some of the riskier ventures to those earning more than $100,000 a year (accredited investor).
Many ICO scams appear to have been eliminated by the SEC limiting ICO offerings to higher income demographics, who are more savvy when it comes to investments. There is a flip side to this in terms of the poor no longer having access to ICO offerings. Which could payout higher than the normal investments they normally have access to. Its a those risk versus reward scenario that is difficult to quantify.
Defi could be much bigger than ICO was, with more professional and bigger names involved. Still we see many of the same trends and precedents emerging.
Topic: Format smartchain based DFI platform (Read 68 times)
The funds are safe, sunk after the exploitation of money.
The decentralized finance ecosystem of the Binance smart chain has seen PancakeBuni absorb a second flash in a week. A new attack spread 30 million or half of the total liquidity from the DFI platform Bog Finance. The team confirmed the attack on Sunday, warning users not to buy its original tokens until the issue is resolved.
The development team identified and reduced the exploitation in 45 seconds or 15 blocks, thanks to an online meeting held after the attack began. Still, the perpetrator was able to extract 3 million of the 6 million liquidity. The price of the BOG token crashed from about 1. 1.8 to 000 0.0003 after the attack.
Pervious news date published 24 May.
Click here for details: https://cointelegraph.com/news/binance-smart-chain-based-defi-platform-suffers-3m-flash-loan-attack
The decentralized finance ecosystem of the Binance smart chain has seen PancakeBuni absorb a second flash in a week. A new attack spread 30 million or half of the total liquidity from the DFI platform Bog Finance. The team confirmed the attack on Sunday, warning users not to buy its original tokens until the issue is resolved.
The development team identified and reduced the exploitation in 45 seconds or 15 blocks, thanks to an online meeting held after the attack began. Still, the perpetrator was able to extract 3 million of the 6 million liquidity. The price of the BOG token crashed from about 1. 1.8 to 000 0.0003 after the attack.
Pervious news date published 24 May.
Click here for details: https://cointelegraph.com/news/binance-smart-chain-based-defi-platform-suffers-3m-flash-loan-attack
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