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The person who lost the 50 million probably insured his money with something like https://nexusmutual.io/ https://nexusmutual.io/. If you invest a large sum, yo
by splendidHaiku 5y ago
The person who lost the 50 million probably insured his money with something like https://nexusmutual.io/ https://nexusmutual.io/. If you invest a large sum, you should always insure it against hacks.
- hbbio 5y agoBeing decentralized does not prevent them from making the job of an insurer. Nexus Mutual just told on Twitter that since it is not a smart contract attack, they're not going to pay.
- koolba 5y agoThe only thing riskier than smart contracts would be smart contract insurance products atop smart contracts. I'm sure they only allow for vetted contracts, but the incident discussed in this article was not a contract hack, it was a website hack to change the approve addresses. If that type of thing is going to be covered then it's well beyond smart contract due diligence. That would require evaluating end-to-end op sec practices on an ongoing basis.
- NationalPark 5y agohttps://twitter.com/nexusmutual/status/1466395880806928387?s=21 https://twitter.com/nexusmutual/status/1466395880806928387?s... Looks like they’re refusing to cover it because it was a supply chain attack.