Do repost and rate:
One of the latest exploits concerned the Superfluid protocol, linked to QiDAO, despite an excellent audit and a serious team behind. The QI token dumped from $1.1 to $0.14 further to this hack before returning to more reasonable levels once everyone realized that it is not QiDAO which had been exploited but only Superfluid.
How To Avoid Getting Rekt?
The following good practices can help to avoid to be rekt:
- To check the previous exploits done on rekt.news: Superfluid is not the only one, Wormhole (bridge) is also a major case, and CRYPTO.COM exchange exploit shows that centralized exchanges can also be exploited.
- To avoid the so-called forks of Aave which might include vulnerabilities: Vee Finance on Avalanche was supposed to be similar to Aave but was exploited for USD 36 million.
- To be cautious with any protocol promising suspiciously high rewards: it includes well-known protocols like Anchor offering 19.5% APR on UST: how is it possible in the long term? Terra recently added USD 1 billion to the reserve. How long will it cover the interests to be paid and what will Terra do once this reserve has been used?
As usual, please DYOR and keep safe.
Below a few referral links to earn more cryptos...
- Elrond: earn $10 EGLD
- Legion Network: earn $5 LGX
- Crypto.com: earn $25 CRO / Referral code:439km3wyjs
