Odysseus
๐ค SpeakerAppearances Over Time
Podcast Appearances
And also they basically cleared up all the evidence in logs such that the alerting systems of Layer 0 would not go off, right?
So it's a very sophisticated attack because of the level of access they had.
It's actually very scary.
I think as the space, we have focused a lot on the smart contract level security, which has a lot, you know, developed.
And I would say we're in a very, we're in a good spot in terms of sophistication.
As you know, the previous bridge attacks were smart contract level vulnerabilities.
But now with this attack, with Drift before, we're actually seeing the social layer being the actual attack vector where they manage to get access to people, their computers, and probably to the systems, right?
So it's the human link that is actually now the weakest.
Well, in crypto, you know, a transaction, a hack is a physics event.
I think it goes back to whether you can club out or not, whether you can undo history, right?
The main difference is that in TradFi, you can have all these issues, but at the end of the day, you do a couple of meetings.
It's expensive.
But because of this long settlement, you can sort of circle back and fix it, right?
Here, you can't.
The ledger is the truth and the ledger is immutable by design.
So this amazing thing that brings the capital efficiency, which is why TradFi is adopting crypto is because it's more capital efficient, is also the same thing that creates these problems right now in so much pain, right?
It's like a double-edged sword.
I would totally agree with how you positioned this.
Of course, layer zero got infiltrated.
It's problematic that we're suggesting default configs that were not secure enough.