Value Locked in DeFi Surges. So Do the Exploits

Value Locked in DeFi Surges. So Do the Exploits
The phrase “Code is Law” is often tossed around in the decentralized finance (DeFi) industry, posing that DeFi is able to self-regulate because code is intended to be used exactly how it was written. As CoinDesk reporter Andrew Thurman said, “Where one man might see an exploit, another may just see ‘crypto trading’.”Under this self-regulation, the hacker of Indexed Finance is willing to argue in court that his or her permissible exploit of the DeFi protocol should be considered a fair-game, arbitrage trade. As the industry grows in size, the exploits grow more serious, with Cream depositors losing $130 million…