In the Web2 world of security, a 'zero day' is when a 'new and novel' problem appears, HalbornSteve says. It happens often in Web3 because of the innovative approach to technology. He discusses nomadxyz_'s $200 million loss in an exploit:
or the Solidity programming language to engage in the hack. In fact, “all you had to do [was] find a transaction that worked and then replace that address with your own.”
Walbroehl said that bridges such as Nomad are likely prone to exploits because “most often this is where all the value is stored” – and thus bridges are enticing to hackers. The second reason Walbroehl points to is complicated programming, especially when it comes to “two different protocols.” Walbroehl believes that the best way to prevent future hacks “is to put defense in depth – do security audits.” In addition, he said that developers should get others to look at their code, as well as testing it on their own.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WazirX CEO's project Shardeum is raising funds at a $200 million valuationShardeum, a blockchain scaling project, is raising funds at a $200 million valuation, sources tell The Block.
Read more »
House votes 'yes' on $200 taxpayer refunds, support services, now Senate will weigh inThe Senate still has to handle the bill, which could come as soon as Friday.
Read more »
Indiana GOP lawmakers settle on $200 for tax rebate paymentsAll Indiana taxpayers would be eligible for $200 rebate payments from the state's surging budget surplus under an apparent deal reached among Republican legislators.
Read more »
Nomad: Hackers Can Keep 10% of Stolen Crypto if They Return the RestAn initial $2.3 million hack of the Nomad crypto token bridge opened the doors to a swarm of coin-hungry users who drained the entire platform of $190 million.
Read more »
Self-custody isn’t for everyone: WisdomTree exec on ‘be your own bank’Self custody or custodial solutions? Why not both asks Will Peck, the head of digital assets at WisdomTreeETFs . (Reporting via coindanslecoin)
Read more »