In 2022, Web3 went just great
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In 2022, Web3 went just great
1–10 of 205 posts
Re: In 2022, Web3 went just great
#2Are we going to pretend there's any industry that isn't filled with scams? L
Re: In 2022, Web3 went just great
#3Are we going to pretend there's any industry that isn't filled with scams? L
Other industries are also filled with things that aren't scams.
Re: In 2022, Web3 went just great
#4I would estimate 95% of those are inside jobs.
Very very very few people have the ability and wherewithal to hack a smart contract or bridge, they are extremely convoluted, ugly and difficult to understand.
Re: In 2022, Web3 went just great
#5I would estimate 95% of those are inside jobs. Very very very few people have the ability and wherewithal to hack a smart contract or bridge, they are extremely convoluted, ugly and difficult to understand.
There have to be North Korean hackers whose full time job it is to study these contracts.
Re: In 2022, Web3 went just great
#6I would estimate 95% of those are inside jobs. Very very very few people have the ability and wherewithal to hack a smart contract or bridge, they are extremely convoluted, ugly and difficult to understand.
"Convoluted, ugly, and difficult to understand" is for crackers like throwing Brer Rabbit into the Brer patch.
Re: In 2022, Web3 went just great
#7And how much of that money is 'double counted' - ie. the exact same dollars are stolen twice in the year?
The same money can even be stolen multiple times in the same hack, if it is deposited with some exchange, who then loans it out to someone who desposists it with the exchange again. If the exchange is hacked, it's the same original dollar being double-stolen.
There are rumours that some money on exchanges might be being counted hundreds or thousands of times...
Re: In 2022, Web3 went just great
#8I would estimate 95% of those are inside jobs. Very very very few people have the ability and wherewithal to hack a smart contract or bridge, they are extremely convoluted, ugly and difficult to understand.
The code is open source at least part of the time, and the attack vectors are well studied now (at least for EVM-based chains).
Re: In 2022, Web3 went just great
#9I urge lawmakers to completely regulate this so called 'crypto industry' before this number goes to $14B or higher in 2023.
Crypto, NFTs, Blockchain and the rest of this nonsense should never have existed in the first place.
And yet we enter another year where there is still no legitimate usecase for all of this whatsoever.
Re: In 2022, Web3 went just great
#10And how much of that money is 'double counted' - ie. the exact same dollars are stolen twice in the year? The same money can even be stolen multiple times in the same hack, if it is deposited with some exchange, who then loans it out to someone who desposists it with the exchange again. If the exchange is hacked, it's the same original dollar being double-stolen. There are rumours that some money on exchanges might b…
And how much of it has actually been realized as dollars?