As the number of cryptocurrency, blockchain and DeFi projects increased and went mainstream, so as the number of crypto hacks and rug pull incidents around the corner. Hackers and scammers are targeting mostly the exchanges, wallets, and other crypto-related platforms.
Newscrypto, an all-in-one crypto suite for money making decisions in the crypto space, has recently partnered with Lossless. By adopting the next level of decentralized finance security, Lossless has partnered with Newscrypto to spread the word about the safety measures of various tokens that cryptocurrency enthusiasts could take action on an immediate basis.
With the help of Newscrypto’s state-of-the-art platform for cryptocurrency educators, traders and enthusiasts, it gives them the opportunity to encourage various projects around the corner to take advantage of Lossless' one of a kind exploit mitigation protocol that is truly hassle-free, transparent and fair to use like no other. The best part of their protocol is that until something happens, it costs us nothing and is completely open-source.
The role of Newscrypto is to help Lossless in educating the masses with their well-written blog posts to be published on their website. The type of content that Newscrypto is going to publish are more on learning about how a single line of code could safeguard these smart contracts while decentralization retains. Their anti-hacking solution from Lossless would definitely help the Newscrypto community to understand its significance like no other. This strategic partnership would be definitely solid and is expected to grow even further in the long run.
As the DeFi space keeps booming until now, the number of rug pulls have increased. Like the controversial Iron Finance for example, Mark Cuban is one of the investors who invested $75,000 and is actively promoting the project. From an initial price of $2.00, it jumped to $64 before it crashed down to zero after the whales are reportedly removing the liquidity of the token. Fred Schebesta, co-founder and director of Finder.com.au also lost $100,000 in this project alone. And recently, Polygon’s first yield farming platform Polywhale Finance, was the latest rug pull where the team has abandoned the $100 million dollar project and withdrawn tokens valued to over $1 million.
Because of these crypto hacks and rug pull incidents, Newscrypto is motivated to educate their community and the rest in the cryptocurrency, blockchain, DeFi and NFT space about the importance in avoiding various cryptocurrency hacks and rug pulls that are emerging out of the blue. The cryptocurrency market has been highly volatile and can wipe out billions in value in just minutes without warning.
Aside from educating the masses about avoiding cryptocurrency hacks and rug pulls, Newscrypto has a state-of-the-art academy and school where the community could access valuable content about the basics of cryptocurrencies, blockchain technology, DeFi and others up to the advanced level. With Blockchain Wayne on board as one of the Newscrypto advisors, he also has some videos about Newscrypto to educate the community in using this one-of-a-kind platform.