RE: DE-FI Becoming A Hackers Dream

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Insurance for the crypt that can be a new sector to explore for companies... may be soon we will see some projects working on it...
Thanka for sharing the thoughts..



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Oh I am sure, once someone figures out the first draft of it and we can take the other side of the bet you best believe insurance tokens are going to be the next boom. I mean if you look at the insurance market on home loans I think it was 20x the size of the home loan market in 2009, which is nuts, that was a bit crazy but you can see how big that sector can become

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And fir sure the firt cone will take the lead ofcourse the proposal and works done by the team will also effect...
I guess the main hurdle will be the amount that to be insured...
For example un case of home load... their are a little cases of froud that happened in home loan (in India it is very less) and another thing is that can not happened in mass (no of acoounts)...
But in case of the crypto insurance the hackers can takea the very big amount even they can takes maximum available in anybody's wallet even from exchanges (if they are successfuly abke to hack) ... the amount is huge...
What is your opinion...

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I think in the beginning it will be mostly underinsured since people don't think it can happen so they don't often fund it and the returns may be low when holding the insurance contract, but the payout is HUGE if they are hacked of course.

I'm not exactly sure about how each attack vector works or how they abuse De-FI with flash loans so I can't speak to how much of the total liquidity floating through a system can be grabbed at any one time. I think that would need a security risk audit and then they can decide how much insurance capital they need and what premium they'll be willing to pay monthly to insurance holders for backstopping them

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