Ethereum update: Alliance of Crypto Defenders
“What became immediately apparent following the security breach on Bancor is the need for greater industry collaboration in the fight against theft. While thieves leave a clear paper trail on the blockchain, stakeholders still lack resources to connect the dots in order to prevent the liquidation of stolen assets on exchanges and elsewhere.
Bancor will soon unveil a broad alliance of crypto defenders — including major exchanges, token projects and crypto security firms — who pledge to contribute resources and capabilities to fight criminals together. Members will collaborate on mechanisms to warn and assist each other in times of peril, coordinate around shared blacklists, and develop open-source tools aimed at stopping thieves in their tracks. One such tool, to be released in the coming weeks, maintains a real-time multi-chain list of accounts involved in fraudulent transactions, as well as a public interface to allow blockchain users to visualize and understand the movement of their funds.”
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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