Industry News & Insights
PolyNetwork post-mortem: was there a way to prevent the $600 million damage?
As the decentralized finance (DeFi) industry expands, it just can’t seem to get a break from all the hackers trying to abuse its vulnerabilities. After cyber crooks stole an estimated $3.8 billion in crypto assets in 2020, the year 2021 hasn’t fared any better. In fact, the attacks are only getting more brazen. On August […]
THORChain hacks — could they have been prevented?
Decentralized finance (DeFi) has quickly grown into a rich, versatile, and large place where, unfortunately, a lot of malicious characters lurk trying to get their grubby little hands on someone else’s assets. And they’re far from being unsuccessful. In 2020, hackers got away with an estimated $3.8 billion in crypto money through various hacks, rug […]
YDragon to become an LSS-protected Binance Smart Chain project
The Lossless team is excited to announce one more project ready to implement the Lossless anti-hack suite to its protocol. This time, it’s a cross-chain index ecosystem YDragon, the first project built on Binance Smart Chain to take advantage of our security layer! YDragon offers exposure to various DeFi products across multiple blockchains with options […]
Lossless and DeFi: Are hacks approaching extinction? Part I
DeFi is getting bigger each day and is here to stay, perhaps forever. It appears evident as the industry’s staggering growth in 2020 is something to behold, and nothing less is expected going forward. In July, a year ago, when DeFi was not even a word everyone knows, the whole space was valued at roughly […]
Lossless withdraws liquidity from Binance Smart Chain side
Lossless brings an urgent notice which is especially important to LSS holders on Binance Smart Chain (BSC). We will remove liquidity from PancakeSwap and limit the use of the BSC bridge on the company side. In preparation for it, we recommend everyone who has $LSS on BSC to visit chainport.io and bridge their tokens back […]
Tether model versus Lossless: Which is better at hack prevention?
The multi-billion dollar-worth decentralized finance market is an alluring target for all sorts of crooks trying to get their grubby hands on other people’s assets. To succeed in their goal, they deploy various tactics, including: hacking decentralized and centralized exchanges to extract funds, attacking individual wallets through security vulnerabilities, abusing the token minting functionality to […]