a.i & blockchain

the fbi warns defi investors about the dangers posed by hackers

The fbi has issued a warning to cryptocurrency investors about the dangers posed by hackers stealing bitcoin from decentralized finance (defi) systems. cybercriminals are increasingly targeting defi platforms, specifically smart contracts, in order to steal cryptocurrencies. the agency has also seen criminals utilize “flash loans,” which are secured by smart contracts on a blockchain and cannot transfer funds until specific conditions are satisfied. crypto bridges, which enable users to transfer cryptocurrency from one blockchain to another, have exhibited high rates of security vulnerability. the vast majority of 2018’s significant crypto thefts may be traced back to these vulnerabilities. more than half of the $1.9 billion stolen this year through defi protocols is thought to have been perpetrated by hackers with ties to north korea.

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