Exploits
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Exploit or a crypto exploit/hack describes a way for a 3rd party to extract value from a protocol or person using more technical means (in contrast to social engineering in crypto scams).
Most exploits can be described as malicious, but not all exploits are malicious (see: "Code is law").
Name | Description |
---|---|
Wallet drain | Victim is socially engineered into approving his wallet funds to be spent by a contract, which then drains the approved tokens from the victims wallet |
Contract drain | Usually caused by vulnerability in the contracts code, which allows the attacker to drain funds from the contracts address (often leveraging flash loans) |
etc |
Resources
To explore history and details on hacks and exploits:
https://rekt.news/leaderboard/ (a leaderboard of biggest hacks/exploits in crypto space)
https://twitter.com/zachxbt (on-chain detective, exposing some of the hackers and scammers)