Corporate Bailouts Are Coming to Crypto | Crypto Craft

  • Corporate Bailouts Are Coming to Crypto

    From vice.com

    As the world agonizes over whether there is a greater purpose for crypto, hackers seem to have found one: stealing it. Over the past year, hacks targeting crypto holders, protocols, and exchanges have grown increasingly ambitious and regular. CryptoSec, a crypto cybersecurity resource, has tracked some 75 hacks tracking crypto’s decentralized finance (DeFi) ecosystem which have stolen $1.7 billion since 2020―about $816 million of that was stolen between August and December of 2021, a figure that doesn't even include hacks in 2022 that have amounted to hundreds of millions of dollars worth of stolen ... (full story)

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yieldjunkie
Feb 9, 2022 12:46pm
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Seems to me that the defi market already compensates for this type of risk, though, with the insanely high yields. Sticking to a "bailout" firm might be a good thing.. maybe there is a little extra reward for the actual risk taken there.

I don't think "bailout" is the right term, though. That term is associated with taxpayers and the govt bailout of banks. These crypto situations are more along the lines of a company paying to cover losses incurred because of their own security holes in new software, and this type of behavior is totally awesome and supportive of crypto even if it doesn't sound "decentralized."
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