We have exciting news! Starting today we will begin revealing the 8 Security Committee members which will be in charge of hack investigations together with the affected token’s team and Lossless team.
As you know, the Security Committee plays a crucial part in Core Protocol’s efficiency. It’s one of the three main elements, allowing the Decision-Making Body to smoothly operate. A quick reminder of how the Core Protocol’s system works:
- Finders stake $LSS tokens to report a hack and this way freeze the transaction in question;
- This triggers an investigation by the Decision-Making Body, which consists of the token’s creators, Lossless team, and the Security Committee;
- After their investigation, each party uses their voting power to decide if the hack is verified or not. If yes, stolen funds are reverted. If not, the transaction is unfrozen and follows through.
The Security Committee is a 8 member integral structure, comprised of blockchain industry professionals and key figures that will provide trusted and unbiased decision-making when investigating reported hacks.
We are proud to start unveiling the 8members who will take part in this committee to help ensure security in DeFi. Please welcome the newest partner to join us — Alexey Koloskov, CEO of Orion Protocol.
He shared that “Lossless has already proved its commitment to resolving critical DeFi vulnerabilities and hacks. With Orion’s exceptional approach to project security and safety, it is a hugely attractive prospect to work with a number of the industry’s key figures in securing the future of DeFi and Orion itself and we look forward to furthering our partnership together.”
Vygandas Masilionis, CEO of Lossless added: “It’s a pleasure to have industry leaders like Alexey join our Security Committee which shows Orion Protocol’s commitment to prevent hacks in the DeFi space and be one of the first-movers. We’re excited to have him and his know-how on board for such an important mission.”
Meet the other Committee members:
- Matthijs van Driel, Founder of Magnus Capital
- Harry Denley, Security Researcher from MetaMask
- Tiago Martins, CTO and Co-Founder of Polkastarter
- Dan Thomson, CMO at InsurAce
- Rex Hygate, Founder & President of DeFiSafety
- Adam Bém, Co-Founder & COO at Victoria VR
- Jacek Czarnecki, Former Global Legal Counsel at MakerDAO’s Maker Foundation
About Orion Protocol
Orion Protocol is the chain-agnostic protocol building the single point of access to the crypto market — powered by Orion’s Universal Liquidity Aggregator. Orion Protocol is the first, and only, platform to provide decentralized access to CEXs, DEXs, and swap pools in one place, directly from users’ wallets. As the first cross-chain, cross-exchange trading Terminal in market, Orion Terminal aggregates siloed liquidity into one place.
Trade LSS/USDT here!
Lossless is the world’s first DeFi hack mitigation tool for token creators. Apart from Lossless’ known cyber security solutions and renowned professionals, the community also plays a role. With a tangible reward system, community members are also encouraged to explore new ways to detect hacks and fraudulent transactions.
Lossless protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner. Its solutions to the impending problems of cyber theft within the blockchain space are thorough and applicable within many protocols.