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In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses. Amid this alarming scenario, has a beacon of hope emerged in ERC-7265?\xa0\nThe proposal aims to create a 'circuit breaker' safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols? Tune in to find out.\nListen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.\nShow highlights:\n\nwhat ERC-7265 is meant to do and why they called it a 'circuit breaker\u2019\n\nhow the idea would actually work on chain\n\nhow this ERC could make DeFi applications more centralized, rather than decentralized\n\nwhat can be done to prevent small teams from seizing funds\n\nhow different teams will be able to design the circuit breaker as they want\n\nwhat unsafe arbitrary calls and unprotected flows are\n\nwhy Philippe believes that this proposal will help newer teams improve their security\n\nhow the ERC can pave the way for a more decentralized protocol\xa0\n\nwhat will it take for protocols to start adopting the new standard\n\nThank you to our sponsors!\xa0\n\nCrypto.com\n\nRailgun DAO\n\nOndo Finance\n\nArbitrum Foundation\n\nGuest\n\nPhilippe Dumonet, Cofounder of DeReg\nLinks\n\nChainalysis 2022 report\n\n\nThe Block: Ethereum community proposes new standard to mitigate DeFi hacks\n\n\nPhilippe\u2019s thread on ERC-7265\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices