RE: DE-FI Becoming A Hackers Dream
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Some of the pools have 100's of millions in them and go through extensive code audits. But you are correct, they can still be vulnerable.
To be fair, not all of those were hacks. Not that the difference between a hack and an exit or flash loan scheme matters when you're on the losing end.
You could really be onto something with the insurance idea. I'll bet companies roll that out sooner or later. Keep an eye out for Insurance Tokens.
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Yes I understand, it's just easier to group them under hacks instead of breaking down each one but yeah fact remains no ones getting that money back. Audits to me are more of a marketing statement than a security feature and having no roll back or fall back possibilities like centralised exchanges means you need to come up with new ideas.
I think insurance tokens are coming as well as grouped insurance tokens where a few platforms collateral is bundled into a fund. It's really taking Fintech 1 ideas and bringing them to fintech 2