Crypto audits and bug bounties are broken: Here’s how to fix them
Cointelegraph
Published Apr 06, 2023 09:30AM ET
Updated Apr 06, 2023 08:20PM ET
Blockchain exploits can be extremely costly; with poorly designed smart contracts, decentralized apps and bridges are attacked time and time again.
For example, the Ronin Network experienced a $625-million breach in March 2022 when a hacker was able to steal private keys to generate fake withdrawals and transferred hundreds of millions out. The Nomad Bridge later that year in August experienced a $190-million breach when hackers exploited a bug in the protocol that allowed them to withdraw more funds than they had deposited.
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Written By: Cointelegraph
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