Description
Lossless is a DeFi security protocol designed to prevent fraud and hacks in decentralized finance. It offers tools like hack detection, payment fraud detection, and smart contract audit mechanisms to ensure blockchain security for tokenized assets and DeFi projects. Token creators insert Lossless code into their protocol to mitigate the losses suffered from exploits & hacks. A community of white hat hackers build hack-spotting bots, scan transactions and freeze hacks. The affected token’s creator, the Lossless committee and independent third-party auditors then validate a hack and take action to revert stolen funds back to their rightful owners.