Smart contract standards: Making DeFi transactions on Ethereum more secure
Cointelegraph
Published Nov 21, 2020 02:14AM ET
Updated Nov 22, 2020 04:20AM ET
Decentralized finance continues to make its impact on the crypto market, and with over $13 billion of total value of assets locked, DeFi projects are clearly resonating with eager crypto investors. Yet while the DeFi space has been progressing over the last year, a number of illegitimate projects have come to fruition, reminding some of the 2017 ICO boom and its subsequent bust.
For example, Harvest Finance, a major decentralized protocol, was recently hacked. The attacker made away with $24 million from Harvest Finance pools. Most recently, Value DeFi, the decentralized finance protocol, fell victim to a $6-million flash loan exploit. And of course, one of the biggest events of the year for DeFi involved SushiSwap, where the creator sold $13 million of dev funds, causing a market crash.
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Written By: Cointelegraph
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