DeFi Threatened by Smart Contract Exploit?

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The trend of decentralized finance means more and more funds are sent to smart contracts for various organizations. The most prominent one, Maker DAO, kept gathering millions of ETH as collateral, and prepares to accept multiple coins for holding.But while the organization was growing, the smart contract also held a risky vulnerability. Recently, a bug reporter on HackerOne found a critical vulnerability that could steal the entire collateral during liquidation. The bug affected the protocol for multi-collateral DAI. So far, there is no information on the ETH collateral, and the Maker smart contract.The opportunity to steal funds from a contract also raised the issue of bailing out the organizations. Vitalik Buterin, co-founder of Ethereum, posted a poll on the issue. majority of respondents, both to Buterin’s tweet, and a similar poll by Vlad Zamfir, suggest that a bailout should not be an option. potential for losses for ETH-based DeFi schemes…

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