followreportNew by Token Terminal finds that approximately 50% of attacks in Decentralized Finance (DeFi) occurred on cross-chain bridges over two years, with hackers stealing more than $2.5 billion by exploiting vulnerabilities on the Token Terminal. Cross-Chain Bridges
Cross-Chain Bridges, which allow users to send digital assets from one chain to another, however, complicates their creation and subsequent verification. This, combined with the massive funds locked in smart contracts, has attracted a lot of interest from hackers.
Security experts such as Immunefi CEO Michael Amador explain that some developers in the DeFi space lack the knowledge necessary to build such complex mechanisms:
“Many developers Projects are launched simply by Copy and Paste from other projects, and when one of these copied projects has a vulnerability, other projects are prone to it too. and to exploit their vulnerabilities.”
It also appears that most cross-change vulnerabilities occur on the Ethereum Virtual Machine (EVM), including some of this year’s worst incidents, such as the Axie Infinity Ronin hack, the Wormhole token hack, and the hack. Nomad bridge
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