What do experts think about the constant hacking of DeFi proje | NFT News

What do experts think about the constant hacking of DeFi projects?

Usually hacks of DeFi-projects occur through exploitation of vulnerabilities allowed in smart contracts by developers, explained Dmitry Volkov, technical director of CEX.IO international crypto-exchange. According to him, hackers find these vulnerabilities and use them to withdraw funds, i.e., it happens due to opportunities that are already embedded in smart contracts.

The expert gave as an example the hack of BurgerSwap project, which took place in the spring of this year. Then the attacker used a vulnerability that allows to make repeated token exchanges without updating the reserves necessary to calculate the liquidity available to the user, explained Volkov.

With the development of the decentralized finance market we should expect the growth of hacker attacks on new DeFi projects, predicted Volkov.