Wintermute Hack – getting to the bottom of the exploit that led to one of the biggest DeFi hacks in the history of decentralized finance.  In order to understand the $160M Wintermute hack, we first need to understand algorithmic market makers and how they work in DeFi (decentralized finance), since that’s what Wintermute is. Imagine you’re the developer of a...Read More

What Are Blockchains Layers 0, 1, and 2? A blockchain is a complex, multi-layered system.  Bitcoin, the original blockchain, maintained a distributed and decentralized digital ledger on top of a peer-to-peer network.  Later blockchains, like Ethereum, added complexity by integrating smart contract functionality and the technology needed to support these programs that run on top of the blockchain. In addition...Read More

BitMart Hack – A missing pile of Safemoon and other cryptocurrencies, accusations of broken promises, and then nothing. When a high-profile cyber attack takes place and hundreds of millions of dollars are lost, usually a healthy balance is struck between safeguarding information to protect ongoing investigations and maintaining a level of transparent communication with the public. In the case of...Read More

In recent years, many organizations have adopted more modern development practices, including Agile, Scrum, and DevOps.  The goal of these new processes is to improve the pace and efficiency of development by streamlining the development process and using automation whenever possible. One of the main shortcomings of most DevOps programs is that they overlook security, focusing on getting software released...Read More

Coincheck hack – the biggest crypto heist in history at the time it occurred in 2018 was an eye-opener for many reasons, not least of which for the way the stolen assets were being stored.  Seasoned crypto enthusiasts and early adopters of the disruptive new technology know now that safely storing your digital assets is half the battle, but it...Read More

Wallet Attacks: A Deep-dive Wallets are a logical target for cyber-attacks, along with the emerging institutions that hold custody of them on users’ behalf. While secured with technically unbreakable code, hackers have found numerous ways to execute wallet attacks and gain illicit access to user wallets, whether by deception, theft, or ingenuity. In responding to this wallet attacks threat, the...Read More

Axie Infinity’s Ronin Bridge Hack for $551M worth of crypto assets could paradoxically lead to higher rates of blockchain adoption by showing that it’s a lot easier to track stolen cryptocurrency than people think. The popular misconception that cryptocurrencies are private and untraceable fuels the equally popular misconception that it’s impossible to track and recover stolen crypto assets. In fact,...Read More

Consensus Attacks: A Deep-dive Where centralized systems operate on the basis of centralized permission, blockchain protocols proceed on the basis of decentralized consensus. While this is more secure in theory, the system is not flawless. All blockchains are susceptible to consensus attacks, thanks to the ability to simulate, force, or circumvent majority consent for a nefarious aim. Solutions can be...Read More

Network Attacks: A Deep-dive Network attacks are a class of exploits that focus on the isolation and manipulation of individual nodes or groups of nodes. While blockchain networks are theoretically robust against such attempts, both hackers and academics have found loopholes that can be used not only to defraud and damage individuals, but also scale up to take down entire...Read More

Smart Contract Risk and How to Mitigate It: A Deep-dive The strengths of smart contracts are also the source of its weaknesses, and will always present opportunities for hackers to exploit. So far, the pace of innovation in counter-measures is struggling to keep pace with innovation in the methods of attack. It’s reasonable to assume that as the Web3 environment...Read More