News for hackers. Stuff that matters.

A comment on The bug which lost more than $600M in various cryptocurrencies a few hours ago. Parent comment

Re:The bug which lost more than $600M in various cryptocurre... by whitepaint on Thursday August 12, 2021 @06:53AM (#28154630)
High quality protocols like PoolTogether for example have this: https://docs.pooltogether.com/security/audits-and-testing
[ Parent | on HN ]
Re:The bug which lost more than $600M in various cryptocurre... by yunohn on Thursday August 12, 2021 @06:58AM (#28154674)
Most people have never heard of PoolTogether, so I’m not sure if your definition of “first tier” and “high quality” is objective.

Regardless, this quote from your link stands out: “it should never be expected that 100% of the deployed code has been formally audited.”

[ Parent | on HN ]
Re:The bug which lost more than $600M in various cryptocurre... by whitepaint on Thursday August 12, 2021 @07:02AM (#28154708)
It has $175 M locked in the protocol, it is also featured on https://ethereum.org/en/dapps/, and is one of the oldest DeFI projects. By my definition, it is both "first tier" and "high quality". We can of course have the philosophical debate of objectivity and if such thing even exists, not sure if it's needed here though.

The audits of this protocol is also continuous.

[ Parent | on HN ]
Re:The bug which lost more than $600M in various cryptocurre... by yunohn on Thursday August 12, 2021 @08:33AM (#28155411)
175M$ is like 1/4th of the hack that this thread is discussing.

Also, they specifically state that not everything is audited? Nowhere do they mention continuous audits.

[ Parent | on HN ]
Re:The bug which lost more than $600M in various cryptocurre... by whitepaint on Thursday August 12, 2021 @08:41AM (#28155493)
You are right, it's not mentioned, but they do in fact spend hundreds of thousands every few months for audits. You'll find more info here: https://gov.pooltogether.com/
[ Parent | on HN ]