DeFi protocol Cream finance was hacked for more than $130M. The incident pushed their token to the ground and sent shockwaves across DeFi, with other relevant tokens suffering the consequences of the inflicted fear.
Security in crypto is one of the main concerns institutional investors indicate when they are considering entering DeFi, and rightfully so. The industry is evolving fast, and loopholes are discovered in the most painful way possible.
But there is one positive thing to point out: crypto’s transparency and resilience prevails in these cases. There is one literary genre worth noting: the post-mortem.
Post mortems are in-depth analyses of the details of a hack. They are usually written by the organization, which expands on all the factors involved in the mishap. The team provides code snippets, links to transactions, wallets, blocks, etc., where all the traces of the hack remain and can be checked by the community, alongside apologies, conclusions, warnings, and future measures.
Hacks happen, and that is a shame. But there is not one incident in crypto without public, transparent, shared learnings.