Fun

News Feed - 2023-08-23 10:08:00

Derek Andersen11 hours agoQuantstamp introduces tool to detect protocols’ flash loan attack vulnerabilityThe new service, called Economic Exploit Analysis, uses University of Toronto research and will work on any EVM-compatible blockchain.2575 Total views11 Total sharesListen to article 0:00NewsJoin us on social networksBlockchain security provider Quantstamp has launched an automated service to detect flash loan attack vectors in smart contracts. The new service is being called Economic Exploit Analysis and is based on research done at the University of Toronto.  


Economic Exploit Analysis will be available to protocols, whether they have been deployed or not. It will enhance Quantstamp’s audits by identifying flash loan attack vulnerabilities in a client’s code. The service will be available on any Ethereum Virtual Machine (EVM)-compatible blockchain and is non-exhaustive — that is, it may not detect all attacks.


In decentralized finance (DeFi), a flash loan is an unsecured loan that has to be taken out and paid back in the same transaction. Flash loans can be used to take advantage of price differences between crypto exchanges (arbitrage), debt refinancing and similar actions. A flash loan attack is the manipulation of DeFi protocols in ways developers did not foresee. Quantstamp explained:“Flash loan attacks can drain the entire TVL (total value locked) of a DeFi protocol, and their complicated nature combined with DeFi’s composability means these attack vectors often evade conventional audits.”


Related: Ripple expands Canadian engineering activities with U of Toronto XRP validator


The need for greater security in DeFi markets is garnering increasing attention. The problem of flash loan largest attacks, in particular, was brought into focus when Euler Finance was attacked in March. Last year, over $2 billion worth of crypto was stolen in hacks and exploits.Another day, another speaker for #L2Warsaw - @jgorzny, Head of L2 Scaling at @Quantstamp!

He"ll discuss their new rollup security framework and its aim to standardize language for both users & developers.

Title: "Rollup Security Framework"

12:00 PM pic.twitter.com/3rW9UFZZoS— L2BEAT (@l2beat) August 18, 2023


Coinbase’s new Base layer-2 is also addressing security vulnerabilities. It is developing a monitoring tool that it is calling Pessimism to “provide prompt notification of anomalies in the protocol and network, such as account balance irregularities, contract events, or disparities between L1 and L2 states,” it announced in a recent blog post.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine: The trouble with automated market makers# Cybercrime# Loans# Cybersecurity# Quantstamp# Hacks# DeFiAdd reactionAdd reactionRead moreHow to use index funds and ETFs for passive crypto incomeWhat is Chapter 11 bankruptcy? Understand the basics5 strategies to mitigate side channel attacks on cryptocurrency hardware wallets

News Feed

Economist Peter Schiff Warns Fed Action Could Lead to Market Crashes, Massive Financial Crisis, Severe Recession
Economist Peter Schiff Warns Fed Action Could Lead to Market Crashes, Massive Financial Crisis, Severe Recession Gold bug and economist Peter Schiff says there are two possible out
Brayden Lindrea8 hours ago‘I don’t own Bitcoin, but I should’ — Legendary investor DruckenmillerVeteran investor Stanley Druckenmiller praised Bitcoin for establishing its own “brand” during an interview with
Future Outlook For HBAR: Insights From Hedera Q3 Surge And Price Projections
Este artículo también está disponible en español. Decentralized ledger platform Hedera has posted a solid set of third quarter (Q3) results, in line with broader market t
Ethereum Whale Loads Up: $422M In ETH Bought In Under a Month
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Judge reduces Ethereum dev’s prison sentence by 7 months
Turner Wright3 hours agoJudge reduces Ethereum dev’s prison sentence by 7 monthsVirgil Griffith could be eligible for release as early as January 2025 after pleading guilty to violating US sanctions on North Korea.1847
Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year
Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of m
Trump’s Crypto Token Offering: $300 Million Goal With Minimal US Participation – Details
Este artículo también está disponible en español. World Liberty Financial, a decentralized finance (DeFi) initiative endorsed by former President Donald Trump, has disclo
Bitcoin Lawsuit Heats Up With More Bonded Courier Tales
Bitcoin Lawsuit Heats Up With More Bonded Courier Tales During the last few days, cryptocurrency participants have been discussing the notorious Kleiman v. Wright lawsuit as new
XRP Open Interest Has Surged 36% In Two Weeks – Is Momentum Building?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Venture Capital Fund Yolo Invests in Digital Marketing Specialists eCartic
Venture Capital Fund Yolo Invests in Digital Marketing Specialists eCartic press release PRESS RELEASE. Tallinn-based venture capital fund Yolo Investments has an
Ethereum User Spends $9,500 in Fees Sending Just $120 in an Error to Forget
Ethereum User Spends $9,500 in Fees Sending Just $120 in an Error to Forget An Ethereum user mistakenly paid $9,500 in transaction fees to send just $120. The us
1 in 5 Players Win Big at Bitcoin.com Lottery, New Crypto Games Promise Guaranteed Winners
1 in 5 Players Win Big at Bitcoin.com Lottery, New Crypto Games Promise Guaranteed Winners Launching Sure-Win Games! A set of 10 new raffles with guaranteed wins