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Bridge Hack, Wallet Hack

Bridge Hack, Wallet Hack

Fromweb3 with a16z crypto


Bridge Hack, Wallet Hack

Fromweb3 with a16z crypto

ratings:
Length:
52 minutes
Released:
Aug 12, 2022
Format:
Podcast episode

Description

with @mg_486662 @riyazdf @nassyweazy and @smc90This week’s all-new episode digs into recent high-profile hacks that took place in the crypto space over the last week -- we not only dig into what happened, including a more technical breakdown of the how and how we know -- but also cover the categories and issues specific to (and not specific to!) web3 security; as well as solutions and advice for builders.We also touch on related trends and topics such as the role of open source; communications around hacks, as well as social media status signaling; and much more. Throughout, we try to help tease apart what’s hype/ what’s real, as well as the signal vs. the noise, in the narratives out there...  Joining host Sonal Chokshi this week are experts from the a16z crypto security team, including: security engineer Matt Gleason; CTO Riyaz Faizullabhoy; and CISO Nassim Eddequiouaq -- both of whom previously worked at Facebook, Anchorage, and Docker [Nass also appeared on an earlier episode of this show, on evolving NFTs & security, available here].But for this episode, just to quickly recap for your context, the hacks we’re specifically covering are:The hack of the Nomad bridge -- which connects several different blockchains including Avalanche, Ethereum, Evmos, Moonbeam, and others – with reported range of between $185-$190M stolen; The hack of the Slope wallet -- a non-custodial, browser-based wallet that was reported to affect nearly 8000 users on Solana as well as other ecosystems -- with reported range of between $4.5-8M stolen. It occurred a week ago and Slope just posted their latest update today confirming some of the details in this episode (which was recorded a few days earlier).As a reminder: None of the following is investment, business, tax, or legal advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments. 
Released:
Aug 12, 2022
Format:
Podcast episode

Titles in the series (41)

"web3 with a16z" is a show about the next generation of the internet, and about how builders and users -- whether artists, coders, creators, developers, companies, organizations, or communities -- now have the ability to not just "read" (web1) + "write" (web2) but "own" (web3) pieces of the internet, unlocking a new wave of creativity and entrepreneurship. Brought to you by a16z crypto, this show is the definitive resource for understanding and going deeper on all things crypto and web3. From discussing the latest and leading trends to sharing research, data readouts, and insights from top scientists and makers in the space, this is a variety show with a variety of formats and topics listeners can pick and choose from. It is hosted by the longtime showrunner of (and original team behind) the popular a16z Podcast. Learn more at a16zcrypto.com.