The Future Of High-Profile Hacking And Security In The Blockchain And Crypto Ecosystem

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The year 2021 was uncertain for the crypto and blockchain community. Although the community has made some positive strides and noted some record levels and innovations, it has had some rather boring and expensive lows. 

Thorchain and Poly Network, the well-known cross-decentralized platforms, have been the victims of a series of recent high-profile hacks. The Poly network hack cost more than half a billion dollars as hacker dropped anti-Hacking measures for the troubled platform.

The huge demand on everyone’s lips is focused on the impact of such hacking on the crypto community. First, let’s take a look at these recent multimillion-dollar hacks and discuss what is needed to improve future security in crypto.

THORChain Was Put In Danger Twice In Two Weeks
Thorchain (Rune), a well-known Defi protocol, suffered two attacks in two weeks. One of the attacks was directed at the Ethereum thorchain router, an element of the protocol’s Smart Contract Architecture. The hacks were so deadly that the platform lost 4,000 ETS and $ 8.2 million at the time of the hack.

As expected, the incident sparked a series of speculation and concerns in the market. These questions are true because hackers staged a hack to point out gaps in the architecture, many calling it a white hacking movement.

Another important reason that shows that the attacker is a white-hat hacker is that they can easily get rid of more money, but they don’t. as a result, transactions suffered, the Ethereum router attack allowed thorchain to halt ETH transactions until the auditors assessed the situation.

Poly network down $ 600m in one of biggest crypto heists
Poly Network, another Defi platform that ensures the compatibility of Blockchain networks, was also the victim of a new hack that resulted in the theft of nearly $ 600 million in assets. Although it turned out to be a white hack

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