Ethereum community members propose the ERC-7265 standard to mitigate DeFi hacks.

A new standard has been proposed by members of the Ethereum community to improve the security of decentralized finance (DeFi) protocols. The proposed standard is called ERC-7265 and will enable a “Circuit Breaker” to be implemented, allowing DeFi protocols to add a contingency plan to their smart contracts to prevent tokens from leaving the contract in the event of a hack. The ERC-7265 standard is a proposed standard and it remains to be seen whether the Ethereum core team will accept and implement it as a final standard.

Reference: https://www.theblock.co/post/237671/ethereum-erc-7265-circuit-breaker-defi-hacks

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