DeFi market is Growing and so Is The Volume of Hacks

Trouble in crypto paradise

  • Flashloans
  • Exchange hacks
  • Wallet hacks
  • Token minting
  • International “rug-pulls”

Immutability — a blessing or a curse?

Is there a good solution to the rampant hacking problem?

  • A proof-of-stake hack finding platform:
  • An intuitive dashboard that allows manual overview and hack spotters
  • Bot-friendly API for community-created hack-spotting bots
  • A transparent reward system that guarantees high levels of participation and innovation
  • Three party Lossless decision-making structure:
  • Consisting of three entities: token creator, Lossless company, and Lossless Committee. The committee that overviews frozen transitions consists of investors with a significant share of LSS (Lossless) tokens and key public figures that provide trusted and unbiased decision-making, like auditing firms.
  • Within minutes after a hack, a finder can freeze an address for 24–48 hours if they stake LSS tokens.
  • The Lossless decision-making body will then review the frozen address to determine if the hack is valid or not.
  • If it’s valid, the finder is awarded a fee and further steps are taken — the address is frozen for another 14 days, and a committee proposal is enacted for permanent address freezing and reversing the transaction. Within hours after the attack, the Lossless company evaluates the code and contacts the contract owner.
  • If it’s not valid, the finder’s staked LSS tokens are slashed and the address is unfrozen.

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Lossless

Lossless

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World’s first unrivalled exploit identification and mitigation tools, designed to foolproof web3 from malicious activity.