jakiro
Author: Haden Patrick, Cordial Systems Source: BLOCKWORKS Translation: Shan Ouba, Bitchain Vision World World
As a retired navy veteran, I have always been a loyal fan of history.
History is known for leaving some famous sayings that can add icing on the cake.On December 22, 1944, General McOriv led the U.S. army to adhere to Bastone during the war of the Ministry. When the Germans asked them to surrender, he made the following response- “No door!”
Perhaps more well -known is Jim Loville’s information sent by the April 13th spacecraft on April 14, 1970: “Houston, we encountered problems.”
But recently, I fell in love with a post published by an unknown developer for myson SLERF. On March 18, 2024, he realized that he had burned to the tokens worth $ 10 million, and passed through Twitter.”Oh, fucking” attracted the attention of the X universe.
After this lonely tweet caused a sensation in the X universe, a follow -up announcement was released: “The guys, I messed up. I burned the tokens reserved by the liquidity pool token and the airdrop.I was revoked, so I could no longer cast them.
This statement was full of remorse, self -awareness, and apology, which made me feel sympathetic to the unlucky developer.Fortunately, for SLERF, it should have been a fatal blow (I said lightly that it is a team), which has become an opportunity for the entire cryptocurrency community to unite.Because this is a mystery, the next day, $ SLEF did what the coin should do: the price soared, the market value exceeded 400 million US dollars, and the transaction volume on Solana exceeded more than 3 billion US dollars within two days.
There is a time worth learning in this fancibly enthusiasm.
If you are part of an efficient organization, then you are likely to pay attention to team learning, especially to learn lessons from errors.Furthermore, you have to learn from the mistakes committed by others.This is your performance to a higher level.
This is attributed to risk management, which is definitely not unique to the cryptocurrency field.Specifically, once risks are recognized, it can be eliminated, reduced or accepted.Let’s see how it works.
SLERF’s developers posted several follow-up posts, which provided more insights for what happened-Basically, he believed that the operation of the liquidity pool to the tokens of the liquidity pool of the liquidity pool of the liquidity pool to the tokens of the liquidity pool to the tokens that happened failed.All the remaining liquidity pool tokens.
This situation can be avoided.Through a structured risk plan, the risk inherent in this operation can be successfully alleviated.This may include the use of a more reliable token combustion mechanism to complete thorough testing before deploying the combustion process, and formulate clear backup and recovery procedures.
Organizational management learned from the SLERF incident
First, treat your software and infrastructure as a layer of security protocol.
A high -efficiency organization with the top chief information security officer (CISO) will create an environment that allows key infrastructure to operate in the firewall to maximize the invasion.
But this CISO will also be very concerned about the loss caused by his own team.In order to prevent internal errors in the team, some strategies that can be implemented include: the white list system of asset transfer address, the dual certification enforcement of key operations, and the control technology stack to ensure that they will not download third -party applications or use them as browser expansion proceduresAdd (such as wallet supplier or IP access control).
The first method is to eliminate risks.In the SLERF incident, any of the above measures will prevent the wrong tokens of the tokens.
The third -party tool for token destruction is a convenient tool, not a necessity.Professional asset managers will not despise the flow of capital.They will ensure that any important operations with funds will conduct appropriate risk avoidance through strong strategies, and these strategies should be integrated into the established risk management strategies.
Powerful fund management tools will eliminate single -point faults so that the organization can implement dual certification principles for all capital flow as needed.
The second method is to reduce risk.Sometimes, we cannot eliminate all the risks of key operations, but our demand requires us to continue: one of the way to reduce risk is to access only one workstation and a single address access tool loaded to a third -party wallet tool.Even using the address controlled by a third -party control remains dual certification protection.
Finally, create a standard operation program (SOP).For example, any destruction operation required to use a third -party tool must have another operator present to verify the created transactions before submitting the transaction.
However, the most important factor is to prepare.These steps should be carried out before the implementation of key operations, assessment of risks, and how to reduce risks.
But in the final analysis, the SLERF incident seems to be just a case of a single -person development team in order to cater to the fan base of the fan coin.Whether it is intentional or unintentional, the developer acknowledged the risk and said “I will deal with it”, and then continue to move forward without eliminating or reducing operating risks.
However, we must never forget personal risk management.
When I read the last sentence of the text/post above, I couldn’t help but feel shocked: “I spent 3 days to prepare this, but fell in front of the finish line.”root cause.If we understand this sentence literally, then the developer has no ability to operate at all, which will make the $ 10 million assets in danger. Whether he/she thinks he chooses the caffeine -containing energy drinkHow excited him/she is.
Personal risk management includes the best ability to manage your daily routines to obtain sufficient rest, exercise and nutrition, so that when you enter the key operation stage, you will be in the best state.Contrary to the popular views, the team should not tired themselves into the point of collapse.Everyone will reach a decline in efficiency, easy to make mistakes and carelessness.
I dare to bet that this situation must have happened before three consecutive days.
