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DeFi is the Wild West – Can Crypto Insurance Tame the Space?

·1 min read

BeInCrypto –

In the middle of August, the crypto community experienced a record-breaker. Though not quite the type most are used to seeing.

On August 10, interoperability provider Poly Network was severely compromised, having more than $600 million of its funds temporarily stolen. This effectively resurfaced well-founded safety concerns about the current state of DeFi and the safety of user assets.

The hack was by far the largest the DeFi sector has seen to date. It quickly put the familiar conversation of value-at-risk in the space to the fore again.

This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto