Crypto security firms more concerned with social media clout than the details
With memecoins regularly outperforming more established crypto projects, there’s plenty of evidence to back up the assertion that the cryptosphere often rewards attention over innovation. From crypto influencers dumping on their followers to SocialFi projects such as FriendTech, social media following can act as a proxy for value, especially for projects without their own token. Even crypto security auditors, supposedly behind-the-scenes players, are keen to try their hand at the social media game. Sometimes, at the expense of their credibility. Peckshield’s classic “you may want to take a look” has caused many a heart to sink over the years, typically accompanied by a transaction hash in which hackers have extracted millions of dollars of crypto-assets. Hi @MIM_Spell, you may want to take a look (w/ $6.49M Loss) pic.twitter.com/uHs0JweuoM — PeckShield Inc. (@peckshield) January 30, 2024 Read more: Magic Internet Money loses its sparkle as DeFi platform hacked for $6...