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💥 The Biggest Losses in Crypto History Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones: 🔥 1. Mt. Gox Hack (2014) Loss: ~850,000 BTC (worth billions of dollars today) What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt. Impact: A huge blow to trust in Bitcoin. Prices plummeted. 🔥 2. Terra / LUNA Collapse (2022) Loss: Be...
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BTC vs ETH Inflation Bitcoin (BTC) Maximum supply: 21 million BTC Current supply increase: Bitcoin block rewards (new BTC issuance) halve approximately every 4 years (“halving”) Annual supply increase as of 2025: Around 1.7% Inflation trend: Decreasing over time because block rewards diminish. By around 2140, all BTC will be mined, and inflation will approach 0% Ethereum (ETH) Maximum supply: Unlimited (theoretically no upper limit) Supply increase: With Ethereum 2.0 and EIP-1559, a “burn mec...
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90% of “Flash Loan” attacks are not hacks in the technical sense, but rather actions carried out within the rules of the smart contract system itself. --- 📌 What does this mean? A flash loan allows users to borrow funds without collateral as long as the loan is borrowed and repaid within the same transaction block. The system prevents funds from being withdrawn before the transaction is completed. However, malicious actors can exploit this mechanism by manipulating price feeds or market dyna...
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Information you need or don't need about web 3 - 15
💥 The Biggest Losses in Crypto History Several major events have caused massive financial damage, shaken investor confidence, and reshaped the crypto landscape. Here are some of the most notable ones: 🔥 1. Mt. Gox Hack (2014) Loss: ~850,000 BTC (worth billions of dollars today) What happened? At the time, Mt. Gox was the largest Bitcoin exchange. It was hacked and eventually went bankrupt. Impact: A huge blow to trust in Bitcoin. Prices plummeted. 🔥 2. Terra / LUNA Collapse (2022) Loss: Be...
Information you need or don't need about web 3 - 1
BTC vs ETH Inflation Bitcoin (BTC) Maximum supply: 21 million BTC Current supply increase: Bitcoin block rewards (new BTC issuance) halve approximately every 4 years (“halving”) Annual supply increase as of 2025: Around 1.7% Inflation trend: Decreasing over time because block rewards diminish. By around 2140, all BTC will be mined, and inflation will approach 0% Ethereum (ETH) Maximum supply: Unlimited (theoretically no upper limit) Supply increase: With Ethereum 2.0 and EIP-1559, a “burn mec...
Information you need or don't need about web 3 - 11
90% of “Flash Loan” attacks are not hacks in the technical sense, but rather actions carried out within the rules of the smart contract system itself. --- 📌 What does this mean? A flash loan allows users to borrow funds without collateral as long as the loan is borrowed and repaid within the same transaction block. The system prevents funds from being withdrawn before the transaction is completed. However, malicious actors can exploit this mechanism by manipulating price feeds or market dyna...
🔐 1. Smart Contract Security
Audit: Smart contracts should be reviewed by independent security firms. Examples: CertiK, Trail of Bits, Hacken, OpenZeppelin.
Formal Verification: Use mathematical proofs to ensure the correctness of contract behavior.
Testnet Usage: Projects must undergo extensive testing on testnets before deploying to mainnet.
Bug Bounty Programs: Encourage ethical hackers to find vulnerabilities (e.g., Immunefi, HackerOne).
---
🔐 2. Key and Wallet Security
Hardware Wallets: Cold wallets like Ledger or Trezor are far more secure than hot wallets.
Multi-Sig Wallets: Require multiple signatures (e.g., Gnosis Safe) to enhance fund security.
Private Key Storage: Never store private keys online or take screenshots of them.
---
🔐 3. User-Level Security
Phishing Awareness: Always verify links before connecting your wallet. Avoid unofficial sources.
Permission Management: Regularly review and revoke unnecessary contract approvals (e.g., Revoke.cash).
Two-Factor Authentication (2FA): Always enable 2FA for Web2 services integrated into Web3.
---
🔐 4. Protocol-Level Measures
Time-Lock Mechanisms: Add time delays for major changes to prevent instant fund drain.
Rate Limiting: Restrict withdrawal rates to minimize attack impact.
Insurance Solutions: Use decentralized insurance platforms like Nexus Mutual or InsurAce to protect funds.
---
🔐 5. Community and Transparency
Open Source Code: Open code allows wider review and contributions.
Community Oversight: Active communities can quickly detect suspicious activity.
Transparent Governance: DAOs should empower communities in decision-making.
---
🛡 Examples in Action
Arbitrum DAO uses multi-sig wallets.
Uniswap is open source and has undergone multiple audits.
Yearn Finance employs time-locks and governance voting.
---
⚠️ REMEMBER!
Protect your hard work with simple yet powerful practices.
Stay Safe
🔐 1. Smart Contract Security
Audit: Smart contracts should be reviewed by independent security firms. Examples: CertiK, Trail of Bits, Hacken, OpenZeppelin.
Formal Verification: Use mathematical proofs to ensure the correctness of contract behavior.
Testnet Usage: Projects must undergo extensive testing on testnets before deploying to mainnet.
Bug Bounty Programs: Encourage ethical hackers to find vulnerabilities (e.g., Immunefi, HackerOne).
---
🔐 2. Key and Wallet Security
Hardware Wallets: Cold wallets like Ledger or Trezor are far more secure than hot wallets.
Multi-Sig Wallets: Require multiple signatures (e.g., Gnosis Safe) to enhance fund security.
Private Key Storage: Never store private keys online or take screenshots of them.
---
🔐 3. User-Level Security
Phishing Awareness: Always verify links before connecting your wallet. Avoid unofficial sources.
Permission Management: Regularly review and revoke unnecessary contract approvals (e.g., Revoke.cash).
Two-Factor Authentication (2FA): Always enable 2FA for Web2 services integrated into Web3.
---
🔐 4. Protocol-Level Measures
Time-Lock Mechanisms: Add time delays for major changes to prevent instant fund drain.
Rate Limiting: Restrict withdrawal rates to minimize attack impact.
Insurance Solutions: Use decentralized insurance platforms like Nexus Mutual or InsurAce to protect funds.
---
🔐 5. Community and Transparency
Open Source Code: Open code allows wider review and contributions.
Community Oversight: Active communities can quickly detect suspicious activity.
Transparent Governance: DAOs should empower communities in decision-making.
---
🛡 Examples in Action
Arbitrum DAO uses multi-sig wallets.
Uniswap is open source and has undergone multiple audits.
Yearn Finance employs time-locks and governance voting.
---
⚠️ REMEMBER!
Protect your hard work with simple yet powerful practices.
Stay Safe
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