Any platforms were just having its vulenrability but it has not yet discovered. Some people who called dex were safe must be joking about that. they must have seen this. So many times dex or cex have been targeting by the criminals.
The fact that if people are massively revoking their address from the site. that being said that if sushi was in a critical condition.
Topic: Sushiswap hacked - page 3. (Read 416 times)
The anonymous hackers possess the ability to hack any website, even if it is built with the best security. There will always be some loopholes in the code of the site even it's built with advanced security. If exchanges are constructed with poor coding, filled with vulnerabilities, then they will most likely be hacked.
Many of those swiping sites are not as secure as we perceive them to be, and any unfortunate occurrence like this can take place in the future. It is better to rely on reputable centralized exchanges, which excel in terms of security. Their security measures far exceed those of decentralized exchanges.
Our present technology is still not highly advanced, and any website can have bugs and vulnerabilities that can be exploited by malicious entities.
Many of those swiping sites are not as secure as we perceive them to be, and any unfortunate occurrence like this can take place in the future. It is better to rely on reputable centralized exchanges, which excel in terms of security. Their security measures far exceed those of decentralized exchanges.
Our present technology is still not highly advanced, and any website can have bugs and vulnerabilities that can be exploited by malicious entities.
It reminds me the hack that Pickle finance suffered back during the DEfi fever.
It looked like a promising platform, but that exploit killed it.
Also, I agree that the fact this news has not been so widely known around the internet, could imply there is a lack of interest from investors into Defi, which is a shame if you ask me, I personally like Uniswap and how it can provide liquidity in a decentralized way.
Obviously, there is still a long path ahead before we can see a bigger adoption by the general public of these protocols, people are already too accustomed to centralization and the fact they can lose their (unsecured) money this way, does not help.
It looked like a promising platform, but that exploit killed it.
Also, I agree that the fact this news has not been so widely known around the internet, could imply there is a lack of interest from investors into Defi, which is a shame if you ask me, I personally like Uniswap and how it can provide liquidity in a decentralized way.
Obviously, there is still a long path ahead before we can see a bigger adoption by the general public of these protocols, people are already too accustomed to centralization and the fact they can lose their (unsecured) money this way, does not help.
This is not a huge hack but still it creates panics to those who are using this platform, the real question now is the security os sushiswap especially those who are staking under this platform. I see the price didn’t dump that much, maybe Sushiswap was able to stop the hacker from getting more money. Hackers are still looking for a weak system, this could be a warning to Sushiswap t strengthen their security.
With all these fiascos going on with Sushi the future of Sushi is not bright, after they fork Uniswap most of their recent development has not been successful and this can't continue, they need to differentiate from being a fork, the recent hack is a major dent on the platform, SushiSwap has been losing market share to other DEXes and has been losing steam, remember some of these big CEXes like Bittrex, Poloniex, Houbi but have not scale with time, this could be the fate of Sushi with time
But on the other hand my question is, how many dex hacks there needs to be until you would accept that current tech isn't even near for wide adoption?
I have no idea. But this is common on that space and that's why I don't use that much these swaps because maybe there's something within their security and that's why they're always being targeted and attempts are always successful on them.
The tech in the likes of sushiswap is easily being accepted and that's why it has got millions of funds and that's why these hackers are thirsty with it.
I just heard this news and I immediately took action by revoke it just in case. I see the price of sushi today only fell by about 5% and I don't think it's too bad when there is news of a hack that hit sushiswap. maybe in hindsight there will still be a lot of CEX or DEX hacking news as hackers keep looking for loopholes in every exchange. agree with what you said that we have full responsibility for our money, therefore we must keep our money in the safest place.
You know we have already seen the bottom on altcoin bear market when Sushiswap gets hacked and no one even cares that they get exploited. Imho weak hands are out and from the technical side i think we can rise any time now.
But on the other hand my question is, how many dex hacks there needs to be until you would accept that current tech isn't even near for wide adoption? As we have all the responsibility of our money, even in cases of DEX hacks, how in the million years this tech would be adopted by anyone else then experimental libertarians?
Quote
Decentralized exchange SushiSwap has fallen victim to an exploit, which led to the loss of more than $3.3 million from at least one user, known as 0xSifu on Twitter.
The exploit involves an approve-related bug on the RouterProcessor2 contract — which PeckShield and SushiSwap Head Chef Jared Grey recommend revoking on all chains.
Source: https://www.theblock.co/post/225473/sushiswap-hackThe exploit involves an approve-related bug on the RouterProcessor2 contract — which PeckShield and SushiSwap Head Chef Jared Grey recommend revoking on all chains.
But on the other hand my question is, how many dex hacks there needs to be until you would accept that current tech isn't even near for wide adoption? As we have all the responsibility of our money, even in cases of DEX hacks, how in the million years this tech would be adopted by anyone else then experimental libertarians?
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