I was completely frozen when I saw that news last night - someone lost 50 million USDT in a phishing attack in an instant. Even more outrageous, the victim was "negotiating" with the hacker on-chain and issued an ultimatum of "refund 98% within 48 hours." I instinctively opened my Wallet to verify, and my palms were sweaty.
At that moment, I suddenly thought: If my assets were converted into another stablecoin form, would I sleep more soundly?
In simple terms, security cannot just be an additional feature; it must be the foundation of the entire system.
This incident has exposed a painful reality – in a decentralized world, whether assets can be preserved depends on individual vigilance. A single misclick or a careless authorization can wipe out years of savings. When we discuss stablecoins, we often think about "whether the price is stable," but the real question is often overlooked: who is actually guarding my money?
This is why some stablecoins chose a different path from the beginning. For example, by adopting an over-collateralization model—every dollar you have must be backed by real assets, such as BTC or TRX. All collateral data is displayed on-chain, and anyone can check it at any time. This eliminates the possibility of any "black box operations." Compared to those centrally issued stablecoins, the transparency itself forms a security barrier.
In addition to the decentralized autonomous operation logic - not relying on a single centralized institution, but maintained collectively by distributed DAO nodes. Even if a hacker breaks through a point, it cannot change the overall situation, as the system has sufficient resilience to self-correct. There is no risk of a "fatal" single point of failure.
These are the things that can truly help us sleep soundly.
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OnchainDetective
· 10h ago
50 million just disappeared like that? How strong does my brother's mental quality have to be? I almost pressed approve wrong because my hands were shaking.
View OriginalReply0
GasOptimizer
· 21h ago
50 million gone in a night, it truly is my nightmare
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Fishing scams are hard to guard against, it all depends on who makes the first mistake
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Can you really get back 98% by "negotiating" with a Hacker? How naive!
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The over-collateralization method is indeed reliable, but the key is to protect your Private Key
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DAO autonomy sounds great, but in reality, it still relies on individual vigilance
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Every time I see such incidents, I have to check the authorizations again, it’s really despairing
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Instead of exchanging for stablecoins, it’s better to upgrade your security awareness first
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The risks of centralized stablecoins are not insignificant either, accidents can happen
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On-chain negotiations, haha, it’s unlikely a Hacker will take you seriously
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High transparency ≠ not being hacked; ultimately, the defense still lies at your fingertips
View OriginalReply0
CoinBasedThinking
· 21h ago
Fifty million gone and still dare to negotiate, this guy is really brave... I need to quickly check my authorization list, it feels unsafe.
View OriginalReply0
SelfSovereignSteve
· 21h ago
50 million USDT just disappeared like that... I really can't hold on anymore, that's why I'm double checking everything now.
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One little shake when authorizing and it's over, in a decentralized world, you have to rely on yourself to be smart.
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To be honest, the logic of over-collateralization + DAO maintenance is indeed much more reassuring than those black box stablecoins.
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Phishing attacks are bound to happen sooner or later, I can only blame myself for not mastering the skill of "not clicking links" yet.
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The chain is transparent, but personal safety awareness is the real last line of defense.
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Rather than negotiating with hackers, it's better to find an over-collateralized stablecoin, at least I can sleep soundly.
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Decentralization is a double-edged sword, it brings freedom but you also have to pay for your own mistakes.
View OriginalReply0
HackerWhoCares
· 21h ago
50 million just disappeared? Oh my, is this still "negotiation"? Laughing to death, will a Hacker pay attention to you?
All the money needs to be converted to over-collateralization, at least it can be checked on-chain, no need to be anxious every day.
I was completely frozen when I saw that news last night - someone lost 50 million USDT in a phishing attack in an instant. Even more outrageous, the victim was "negotiating" with the hacker on-chain and issued an ultimatum of "refund 98% within 48 hours." I instinctively opened my Wallet to verify, and my palms were sweaty.
At that moment, I suddenly thought: If my assets were converted into another stablecoin form, would I sleep more soundly?
In simple terms, security cannot just be an additional feature; it must be the foundation of the entire system.
This incident has exposed a painful reality – in a decentralized world, whether assets can be preserved depends on individual vigilance. A single misclick or a careless authorization can wipe out years of savings. When we discuss stablecoins, we often think about "whether the price is stable," but the real question is often overlooked: who is actually guarding my money?
This is why some stablecoins chose a different path from the beginning. For example, by adopting an over-collateralization model—every dollar you have must be backed by real assets, such as BTC or TRX. All collateral data is displayed on-chain, and anyone can check it at any time. This eliminates the possibility of any "black box operations." Compared to those centrally issued stablecoins, the transparency itself forms a security barrier.
In addition to the decentralized autonomous operation logic - not relying on a single centralized institution, but maintained collectively by distributed DAO nodes. Even if a hacker breaks through a point, it cannot change the overall situation, as the system has sufficient resilience to self-correct. There is no risk of a "fatal" single point of failure.
These are the things that can truly help us sleep soundly.