[ad_1] <br><div><aside class="mashsb-container mashsb-main mashsb-stretched"/><p>Blockchain bridges enable decentralized finance (DeFi) customers to make use of the identical tokens throughout a number of blockchains. For instance, a dealer can use USD Coin on the Ethereum or Solana blockchains to work together with the decentralized functions (DApps) on these networks. Whereas these protocols could also be handy for DeFi customers, they're vulnerable to exploitation by malicious actors. For instance, previously 12 months, the Wormhole bridge — a preferred cross-chain crypto bridge between Solana, Ethereum, Avalanche and others — was hacked, with attackers stealing over $321 million price of wrapped Ethereum (wETH), the biggest hack in DeFi historical past on the time. Simply over a month later, on March 23, 2022, the Ronin Community bridge — Axie Infinity’s Ethereum-based sidechain — was hacked for over $620 million, and on Aug. 2, the Nomad bridge was hacked for over $190 million. In whole, over $2.5 billion was stolen from cross-chain bridges between 2020 and 2022. Trustless bridges, often known as noncustodial or decentralized bridges, might enhance customers’ safety of cross-chain transfers. A cross-chain bridge is a expertise that enables sending of belongings or information from one blockchain community to a different. These bridges enable two or extra separate blockchain networks to speak to one another and share info. The interoperability offered by cross-chain bridges makes it attainable to maneuver belongings from one community to a different.</p><p>Full story : <a target="_blank" href="https://cointelegraph.com/news/defi-security-how-trustless-bridges-can-help-protect-users" rel="noopener">DeFi security- How trustless bridges can help protect users.</a></p></div><script>!function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '176729983203833'); fbq('track', 'PageView');</script> <br>[ad_2] <br><a href="https://www.oodaloop.com/technology/2023/02/20/defi-security-how-trustless-bridges-can-help-protect-users/">Source link </a>