Jess Symington, research lead at Elliptic, a blockchain forensics company, discusses the massive upswing in DeFi hacks during 2021, resulting in over $10 billion of DeFi value lost. Show topics:
- the state of crime in DeFi
- how much value has been lost to exploits
- whether the majority of hacks are the result of user or developer error
- the various types of exploits
- how to confirm when a project did, in fact, rug pull
- which blockchains are most susceptible to having exploits
- what has been happening recently in ransomware
- how DeFi hackers cash out
- why ransomware attackers, who usually request payment in Bitcoin, have a tougher time cashing out than DeFi hackers
- whether hackers trend towards a specific profile/demographics
- how easy it is for law enforcement to find hackers
- whether blockchain’s transparency is proving to be a helpful tool for regulators
- Jess’s advice on how to prevent hacks for both protocols and users
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Episode Links
Elliptic
Hack Coverage
- Elliptic Research
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- Rekt Leaderboard (giving a dollar figure for recent hacks along with a summary of what happened)
-
Unchained Podcast on Ransomware
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