open hacker operation – Already very present on the current Internet, pirate have found in the Web3 and in particular on the platforms of decentralized finance (DeFi) a great playground. Little regulation, protocols open-sourceisolated users and above all, above all, a lot ofsilver in circulation! After a few years of anarchy, the authorities decided to jump into the fray to protect the widow and the orphan. The very serious Federal Bureau of Investigation (FBI) takes matters into its own hands and signals the end of impunity. Get out the smoked Ray-Bans and the big black cars, the federal agents are in place!
The FBI warns users and platforms
The US government is concerned about its fellow users of the Challenge and wishes to warn them. On the FBI’s Twitter account, a call for caution was even launched yesterday. This after‘1.6 billion dollars has already been stolen in 2022 via decentralized finance platforms. The agency said cyber criminals happily take advantage of “increased investor interest in cryptocurrencies” but also of “the complexity of cross-chain functionality and the open source nature of Defi platforms”. This explosive mixture being at the origin of many recent hacks.
The FBI uses the examples of the Wormhole or Solana attack to illustrate the vulnerability users and urges them to be cautious. But the office also insists on a certain digital hygiene and encourages users to certain ” barrier gestures ». Before investing your money, you should, for example, check that the protocol has been properly audited by an independent agency. Additionally, the FBI warns against investments that have “ extremely limited time » or movements involving « large groups of people“.
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A special force created to fight against new pirates
But the platforms also have their share of the work to do. For example, they are asked to control the codes regularly. This is to identify possible vulnerabilities and to communicate even more with their communities in case of doubts or problems. Finally, the federal agency asks the population to report and report any problems to their services. And to do this there is a site: theInternet Crime Complaint Center.
And to reinforce this system, on February 17, the Deputy Attorney General of the United States, Lisa Monacoannounced during Munich cybersecurity conferencethe creation of a brand new unit: the Virtual Asset Exploitation Unit (VAXU). She will join the National Cryptocurrency Enforcement Team (NCET). Its mission will be to oversee all cases of ransoms or scams related to cryptocurrency. The idea being not to simply to chase criminal groups but also disturb their operation.
Strengthening of the security of decentralized finance protocols is definitely a good thing. It will allow as many people as possible to come and try Challenge without risking losing your money. That’s the good point. Now, insofar as the very essence of this concept is the decentralization, it will be tricky to reconcile it with security and transparency. Are users ready to cut back on their freedom for more security ? Start of response in the coming months.
As hacks multiply in DeFi, it becomes urgent to secure the protocols. Do you want to invest with peace of mind? Register without delay on the FTX reference crypto exchange platform. In addition, you benefit from a lifetime reduction on your trading fees (commercial link, see conditions on official website).