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

Ethereum Sees $1.4 Billion In Exchange Outflows This Week – Strong Accumulation Trend?
Este artículo también está disponible en español. Ethereum has faced a challenging start to the year, shedding 15% from its recent local highs and dipping to a low of $3,
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed
Bitcoin exchange flow multiple nears yearly low, signs of ‘upward trend’
Ciaran Lyons7 hours agoBitcoin exchange flow multiple nears yearly low, signs of ‘upward trend’The Bitcoin exchange flow multiple value is now at a similar low point as when BTC’s price rallied around 46% in 2023.1
Bitcoin Price Dive-Bombs on the Same Day El Salvador Adopts the Crypto Asset
Bitcoin Price Dive-Bombs on the Same Day El Salvador Adopts the Crypto Asset After touching a high of $52,956 on Monday evening, the very next day the price of bitcoin slid to a lo
Bitcoin turns bullish after the halving — Will BNB, NEAR, MNT and RNDR follow?
Rakesh Upadhyay4 hours agoBitcoin turns bullish after the halving — Will BNB, NEAR, MNT and RNDR follow?Bitcoin surprised traders with a strong rebound after the halving, possibly setting a bullish path for BNB, NEAR,
Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead
Este artículo también está disponible en español. Pepe [PEPE] is currently trading at approximately $0.000000900 and is undergoing a challenging period. The Relative Stre
Trump wants Bitcoin ‘made in the USA’ after hosting mining industry heads
Brayden Lindrea4 hours agoTrump wants Bitcoin ‘made in the USA’ after hosting mining industry headsThe presidential candidate showed his support for the crypto mining industry after executives pitched him on how they
Price analysis 3/4: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX
Rakesh Upadhyay6 hours agoPrice analysis 3/4: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAXBitcoin looks ready to blast above its all-time high, but traders should remember that vertical rallies are rarely sustainab
Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown
Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown Chinese police have seized more than $4.2 billion worth of crypto a
Derek Andersen2 hours agoMarathon Digital will use landfill methane to mine Bitcoin in Utah pilot projectThe BTC miner has partnered with startup Nodal Power for a green, off-grid project that is a small start for a pote
Brayden Lindrea5 hours agoCoinShares gets buying rights to Valkyrie’s crypto ETF unitThe deal comes as Bitcoin ETF applications in the U.S. are seemingly inching closer toward regulatory approval.1339 Total views33 Tot
Blur NFT Marketplace Surges in Volume and Market Share, Rivaling Industry Leader Opensea
Blur NFT Marketplace Surges in Volume and Market Share, Rivaling Industry Leader Opensea Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume s