This year were seeing the rise of Decentralized Finance (DeFi)— a new application of decentralized Blockchain technology that is poised to replace the trillion dollars Global Finance industry. However, recent events such as the dForce hack has shown us that hackers can exploit weaknesses in smart contracts and steal money. It’s almost like robbing a bank, except in this case the bank is flush with crypto AND can’t defend itself. In the case with dForce, the hacker stole $25,000,000 USD (talk about a good haul) and with crypto transactions we know this is not reversible. Luckily in this specific case, the team managed to negotiate with the hacker and they volunteer to return the money back.
This whole incident highlights a big problem — DeFi applications hold huge amounts of assets and vulnerabilities in the code could lead to theft of the entire balance ( which could eventually mean millions of trillions of dollars).
In this special webinar held by the OKex acedemy talks we assemble 3 Blockchain security experts to discuss how to improve security in DeFi.
Yu Guo — Secbit Labs
Georgios Delkos — CertiK
ZhengChao Du — Slowmist
Moderated by: Michael Gu
Join us on April 30th 2020 @ 12:00pm UTC