with @mg_486662 @riyazdf @nassyweazy and @smc90 We cover two of the most recent, high-profile hacks in the crypto space — the Nomad bridge hack, and the Slope wallet hack (which affected several users on Solana) — including a technical breakdown of the what, the how, and how we know. But we also discuss the broader categories, issues related (and not related) to web3 security, as well as open source solutions and advice for builders. Throughout, we try to tease apart what’s hype/ what’s real, and what’s signal vs. noise, in the narratives out there.
with @mg_486662 @riyazdf @nassyweazy and @smc90
This week’s all-new episode digs into recent high-profile hacks that took place in the crypto space over the last week — we not only dig into what happened, including a more technical breakdown of the how and how we know — but also cover the categories and issues specific to (and not specific to!) web3 security; as well as solutions and advice for builders.
We also touch on related trends and topics such as the role of open source; communications around hacks, as well as social media status signaling; and much more. Throughout, we try to help tease apart what’s hype/ what’s real, as well as the signal vs. the noise, in the narratives out there…
Joining host Sonal Chokshi this week are experts from the a16z crypto security team, including: security engineer Matt Gleason; CTO Riyaz Faizullabhoy; and CISO Nassim Eddequiouaq — both of whom previously worked at Facebook, Anchorage, and Docker [Nass also appeared on an earlier episode of this show, on evolving NFTs & security, available here].
But for this episode, just to quickly recap for your context, the hacks we’re specifically covering are:
- The hack of the Nomad bridge — which connects several different blockchains including Avalanche, Ethereum, Evmos, Moonbeam, and others – with reported range of between $185-$190M stolen;
- The hack of the Slope wallet — a non-custodial, browser-based wallet that was reported to affect nearly 8000 users on Solana as well as other ecosystems — with reported range of between $4.5-8M stolen. It occurred a week ago and Slope just posted their latest update today confirming some of the details in this episode (which was recorded a few days earlier).
As a reminder: None of the following is investment, business, tax, or legal advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.