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Projects would rather hack it than pay rewards, Web3 developer claims

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Also hacks and exploits The outbreak continues In the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes paramount. However, the Web3 developer has made it clear that it is not feasible to do so.

In a tweet, Web3 developer claimed That he found a vulnerability in Solana’s smart contract that would have affected several projects and about $30 million in funds. According to the developer, he has reported and helped patch the vulnerabilities. However, when it came time to ask for the reward, the projects began to ignore him.

The developer noted that this sends the wrong message because it shows that projects would rather hack than have critical bugs reported to them. he is books:

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“This is why situations like the Mango exploit occur where the exploiter first steals the money and then starts negotiating. There is no proper incentive to report.”

Community members also echoed the developer’s sentiments. Smit Khakhar, fellow developer, answered By claiming he made the same mistake multiple times. “This is one of the main reasons why hackers exploit first and then negotiate,” he wrote. On the other hand, the Twitter user believes that it is also possible for developers within projects to secretly want to exploit the code for themselves. They tweeted:

Because of those, some prediction The next course in cryptography will be the break and repair course. According to the community member, merchants can pay Blackhats fees to exploit critical vulnerabilities while shorting projects.

Related: The trader allegedly saw more than 5,000x gains after the Ankr protocol was hacked

At the same time, many industry executives believe that artificial intelligence software such as ChatGPT can do this Contribute to securing smart contracts. Speaking to Cointelegraph, HashEx CEO Dmitry Mishunin recently indicated that ChatGPT could be integrated and reduce the number of hacks within the industry.

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Within crypto, several breakthroughs in the field of decentralized finance (DeFi) have been highlighted. Despite this, many industry professionals are confident that this is much broader in scope DeFi adoption can be achieved By educating enterprise players and removing user experience barriers.