I. Hacker Attacks on the Crypto Market Have Never Ceased

The largest hacking incident in crypto history is the "Mt. Gox" event, which resulted in the loss of 850,000 BTC (approximately $85 billion at current prices) in 2014. Since 2017, the total value of crypto assets stolen by hackers has exceeded $10 billion. The recent $140 million loss suffered by Bybit has become the largest hacking incident in recent years.

Monthly Hacking Losses (2017 to Present)

Data Source: https://defillama.com/hacks

Major Hacking Incidents (2017 to Present)

Data Source: https://defillama.com/hacks

II. Comprehensive Chain Infrastructure Can Effectively Reduce the Risk of Hacker Attacks

Web3 urgently needs a more secure and convenient liquidity infrastructure. The recent hacking incident was caused by the asset rebalancing between the exchange's cold and hot wallets. For exchanges and some liquidity protocols, asset rebalancing is a daily operation. The purpose of this operation is to ensure asset security and improve asset utilization efficiency. Similarly, traditional banks will adjust the total amount of savings and lending funds based on the deposit reserve ratio. Taking the exchange scenario as an example, the amount of ETH deposited by users and withdrawn from the exchange is generally the same, so the exchange's ETH balance remains stable. However, if users withdraw ETH from the exchange much more than they deposit, the ETH in the exchange's hot wallet will decrease, and the exchange will need to recharge ETH from the cold wallet to the hot wallet to ensure sufficient ETH for user withdrawals. It's like when a bank branch has too much cash withdrawn, the headquarters will need to transfer cash from the vault to the branch to prevent users from not being able to withdraw. Conversely, when a bank branch has too much cash, the headquarters will move the excess cash back to the vault for security. This is a very common business, and not only exchanges but also cross-chain bridges and multi-chain applications often need to perform asset rebalancing operations. Secure and convenient liquidity infrastructure is crucial.

Smart contracts control asset rebalancing (Rebalancing). Both exchanges and cross-chain bridges can use smart contracts to achieve asset rebalancing. The total amount of the liquidity pool is fixed, and when the assets in a certain pool (hot wallet, on-chain liquidity) drop to a certain threshold, the smart contract can automatically complete the liquidity rebalancing operation. Of course, there may still be risks related to cross-chain bridges and centralization. An incentive mechanism can be introduced to make the rebalancing operation more decentralized and secure. For example, when an asset pool drops to 20% of its original amount, the smart contract can initiate an on-chain task, and any user who adds liquidity to the pool can receive a certain reward. In this way, many users or bots will automatically balance the liquidity for the sake of the reward. This model can "outsource" the liquidity rebalancing business to third parties, and "divide and conquer", greatly reducing the risk of assets.

End-to-end asset settlement will make hacking futile. Of course, relying on third parties to balance liquidity is essentially just transferring the risk of being attacked. For example, in the past, banks themselves would send people to transport cash, and now they hire third-party armored car companies to transport cash using cash transport vehicles. Although more professional, they may still be subject to robbery. So is there a way to make it impossible for hackers to steal anything even if they attack? The answer is yes. A comprehensive chain-based settlement currency system can achieve this. The current interbank credit settlement system uses this model. Banks no longer transmit physical cash, and what hackers steal is only an encrypted voucher, not an asset. Without the user's signature authorization, they still cannot withdraw the funds. As for users, when one bank is short of cash in the short term, they can withdraw from another bank.

III. AI Agent + Comprehensive Chain Infrastructure Can Prevent "Being Deceived"

From the live broadcast after the Bybit incident, it was learned that Ben Zhou conducted a strict review of the multi-signature content and checked it twice before the final multi-signature. However, the front-end interface did not display any abnormalities during the entire transaction process, so even the most cautious person could be deceived by the "facts in front of them".

But what if it was handed over to a robot? The AI Agent can directly parse the smart contract code or on-chain transaction data, and it can quickly detect anomalies by comparing the backend and on-chain data.

This is not to suggest developing an AI Agent with a checking function specifically for risk prompts, as even if the final execution is done by a person, they may still be deceived. Today, we can completely entrust the AI Agent with the tasks of checking and executing.

IV. PicWe's Comprehensive Chain Asset Infrastructure Can Reduce the Risk of Hacker Attacks

The PicWe deployed on Movement has already achieved the following functions through its comprehensive chain asset infrastructure:

1. Smart contract control of asset rebalancing (Rebalance)

2. End-to-end asset settlement (WEUSD)

3. Empowering AI Agents with on-chain execution capabilities

From its inception, PicWe has aimed to serve the Web3 world through a fully decentralized approach using comprehensive chain assets. It not only improves the efficiency of comprehensive chain liquidity, allowing users across chains and ecosystems to enjoy simple, efficient, and low-cost liquidity services, but also enables AI Agents to execute on-chain operations, avoiding the difficulties humans face in learning and interacting with blockchains. When AI Agents use comprehensive chain assets to provide liquidity services for users, it can greatly prevent the occurrence of similar hacking incidents.