Nope, Ronin and Poly Network are still the biggest because both lost around $600m+ each
https://cointelegraph.com/news/the-aftermath-of-axie-infinity-s-650m-ronin-bridge-hack
https://www.cnbc.com/2021/08/23/poly-network-hacker-returns-remaining-cryptocurrency.html
https://cointelegraph.com/news/the-aftermath-of-axie-infinity-s-650m-ronin-bridge-hack
https://www.cnbc.com/2021/08/23/poly-network-hacker-returns-remaining-cryptocurrency.html
I wonder what is the update on these cases. It was a huge money and yet it looks like the incident is already forgotten.
well the hack on the BNB chain showed that it is a centralized blockchain because CZ was able to freeze the assets very quick.
It has been argued and possibly agreed by lots of members here that BNB smart chain is centralized due to the structure of its system but regardless, this is one of the advantage and disadvantage of having a centralized authority. But according to the news, CZ asked validators to suspend the operation that was quick to respond. So basically it isn't just CZ that freeze the operation of the smart chain but the consensus of the validators.
This will alter the perception of Binance as a secure place to store anything. I wouldn't be surprised if this is the work of a large organization. Government-sponsored hackers are well-known to target cryptocurrency.
Bridges will never be safe, and they are causing a lot of bad press for the entire crypto ecosystem, as at least half of the large hacks reported are the result of bridge flaws.
The bridge runs on a smart contract written by people. And since this is a very complex system that combines many smart contracts, hacker attacks are possible.Bridges will never be safe, and they are causing a lot of bad press for the entire crypto ecosystem, as at least half of the large hacks reported are the result of bridge flaws.
Any script can have glitches and bugs that a hacker can exploit.
But the trend lately is that the security service finds hackers and they return the money, minus a small payment for the found bug.
This reminds me of a bounty hunting movies where the protagonist hunts villains for money.
I've always said this. While the markets are going smoothly, we do not face these hacking events. But whenever the markets go bad, we always face hacking incidents. In general, it always happens in these hacking events from the cz end to the coast. Let's see what is going to happen.
The condition of the market doesn't have to do with the timing of the hack unless it is organized by the people inside. Hacker attacks whenever they got access to the platform. They have to do it quickly the moment they break in or else it will be too late for them to move funds if the exploit is discovered.
