Hashoshi breaks down the UGLY truth about crypto bridges and an urgent warning for cryptocurrency holders on Ethereum, Solana, Cardano, Avalanche, Polygon, and virtually any other blockchain that connects to other networks via bridges.
A great Certik resource analyzing crypto bridge hacks and exploits:
https://www.certik.com/resources/blog/GuBAYoHdhrS1mK9Nyfyto-cross-chain-vulnerabilities-and-bridge-exploits-in-2022
The Ronin Bridge, Poly Network, Wormhole Bridge, Horizon Bridge Harmony ONE, and more have suffered huge hacks or exploits and lost billions of dollars of crypto… how can you protect yourself?
⚠️ Important ⚠️ The opinions and information presented in this video are strictly my own, or those of the interviewee featured in the episode, and are not representative of any other individual or entity. The content provided in this video is informational in nature and does not constitute financial advice, advice of any other nature, nor a call to action to purchase cryptocurrency assets of any kind. It is the responsibility of the viewer to conduct independent research and due diligence before making any financial or investment decisions related to the subject matter published on this channel, whether sponsored or unsponsored. Sponsorships, which are clearly disclosed, are informational in nature and do not constitute a call to action to purchase cryptocurrency, nor a direct endorsement from Hashoshi. This channel does not offer the purchase or sale of securities.
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⏰ // Timestamps // ⏰
0:00 The UGLY TRUTH: crypto bridges
0:31 A multi-billion dollar problem
2:42 What are bridges and how do they work?
5:19 Why are bridge hacks so prevalent?
6:08 Example of risks to Trusted Bridges
7:07 Example of risks to Trustless Bridges
8:23 How to protect yourself!
11:18 DO NOT FORGET THIS!
11:41 Check out this URGENT security best practice
🛑 // DISCLAIMERS & TRANSPARENCY // 🛑
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The information in this video is an opinion and is for informational purposes only. It is not intended as investment advice, tax advice nor legal advice, nor does it represent any entity’s opinion but my own. Seek a duly licensed professional for investment advice. No guarantees are being made, nor promises rendered of financial gain or other benefit in this highly speculative market.
#Hashoshi #Cryptocurrency #Crypto
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