Why Crypto Protocols Need Preventative Tools to Mitigate Attacks
On June 2, Velocore’s protocol on Ethereum layer-2 network Linea was hacked, resulting in losses of $6.8 million worth of ETH. The attack, which leveraged a fee overflow bug, resulted in Linea halting operations for an hour in an attempt to mitigate the fallout, and prompted an extensive postmortem. While the Velocore hack will go down as June’s first major on-chain exploit, it was by no means its last. Another six protocol hacks occurred in the month as recorded by DefiLlama, bringing June’s to...