41: So Many Hacks! The Myth of Blockchain Security (w/ Domingo Flores)

If the blockchain is so secure...why are there so many crypto hacks? Infosec expert Domingo Flores joins Scam Economy with Matt Binder to dispel the myth of blockchain security. Domingo brings us back to the very basics and breaks down cryptography and why so many think the blockchain is so secure. We also discuss how hacking attacks have continued to rise and unprecedented amounts of money have been stolen even during the crypto winter. Domingo breaks down flash loan attacks, protocol exploits, "code is law" issues, and even basic social engineering attacks, and much more! Visit: ScamEconomy.com Support the show: http://www.patreon.com/mattbinder Articles mentioned on the episode: https://blog.chainalysis.com/reports/crypto-crime-midyear-update-2022/ https://fortune.com/crypto/2022/10/13/october-record-3-billion-stolen-in-crypto-hacks-2022/ https://cryptopotato.com/cryptocom-becomes-first-crypto-exchange-to-comply-with-soc-2-standards/ Links to Domingo's work: https://twitter.com/Domingroso/status/1600286166213091328