Autonomous Systems & Emerging Primitives

Decentralized protocols, autonomous financial systems, crypto primitives, security vulnerabilities, exploits, scams, and project failures.

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DeFi Security: What Six Years of Exploits Revealed

DeFi security has improved, but not in the way many people assume. The industry’s biggest vulnerabilities did not disappear. The attack surface did not shrink; it evolved. In 2022, bridge exploits accounted for 73% of all DeFi losses, while flash loan attacks made up nearly 19%. By 2025, bridge losses had fallen to just 3%

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How Perpetual DEXs Reached $12 Trillion in Annual Volume

Perpetual DEXs grew from 1% of global perpetual futures volume in 2022 to $12.09 trillion in annual trading volume by 2025. Here is how they got there. Every experienced crypto trader knows perpetual futures. They let traders take leveraged long or short positions on crypto assets without expiration dates. That means traders do not need

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The Anatomy of Crypto Scams: Proven Red Flags & Frauds

Crypto scams are more than financial losses. Understand the patterns, psychology, and red flags behind the biggest frauds and why they keep succeeding. Every major crypto bull market produces a corresponding wave of fraud. That relationship is not a coincidence. As documented in our research on bull run psychology, the euphoria that defines late-cycle markets

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Why Most Crypto Projects Fail: The 11.6M-Token Graveyard

Why do most crypto projects fail? This research uses data from 11.6M dead tokens to explain failure patterns, warning signs, and what sets survivors apart. Every new investor who enters crypto sees the same success stories first. Bitcoin rose from $0.003 to more than $126,000. Ethereum was built by a teenager and grew into a

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7 Most Devastating Crypto Hacks in History

Seven crypto hacks changed the industry. See why they happened, what they exposed, and how they influenced blockchain security. Crypto hacks have changed the industry for more than a decade. On February 21, 2025, a Thursday morning in Dubai, someone at Bybit authorized a transaction. The interface, approval process, and multisignature workflow protecting the exchange’s

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