Rampant hacking Cryptocurrency insecurity DeFi is the worst hit

By    12 Jan,2022

In the Poly Network incident, the amount of money stolen was so large that there were naturally many victims. In this regard, Yu Jianing suggests that if the project involved has already encountered a hacking incident, the operations that can be performed are already very limited. The remaining funds should be transferred out as soon as possible, the authorization of the project should be cancelled in the wallet, the recent progress of the incident should be followed up in time, the project should be pushed to compensate for the loss, and the police should be called in time if necessary.

According to Chengdu Chain Security statistics, the economic damage caused by the blockchain ecology in 2020 has exceeded 380,000 BTC, and at a price of $31,600 per piece, the total loss amounts to about $12.1 billion. This figure far exceeds the sum of the damage amount in the previous two years.

"Security risk is a necessary process for blockchain networks to mature and stabilize." Yu Jianing said the most important point is to learn from the experience and lessons of each security incident, and to optimize, upgrade and iterate. At the same time, establish a system-level security system, improve the security of blockchain as a whole, promote the standardization of blockchain security, and provide design, management and usage guidelines for blockchain development and use.



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