The Ripple representative at Devos conference said that currently the crypto market is at stage, when all bad blood has been purified, and compared it with DOT.com bubble from 2001.
After a lot of internet companies has crashed and claimed bancruptcy, the few of the rest have survived and become more powerfully, year after year, an Amazon, or Google will be a good examples.
What "bad blood" he was meant?
I bet we all could hear about affairs connected with Luna, Celsius insolvency or crash of the FTX.

In fact, there were many more spectacular disasters during this, lets say crypto bubble.
I'd like to draw attention to enormous amount of various DAPPs based on DEFI (decetralized finances), like DEXes, or other crypto investments platforms that emergences during this hossa.
There is no doubt that inovative type of platforlm business took over a large part of crypto market, thanks to its anonymity and preety wide scope of accesible crypto tokens.
Their popularity resulted from executing transactions by use of smart contracts - self-executing agreements written in code.
This made DEXes a real 2to2 crypto marketplaces where cryptocurrency traders could make transactions directly without handing over management of their funds to an intermediary or custodian.
The smart contracts are often certified by outside specialized companies (like Certik) so they seems to be quite legit and clear.
Properly written programming code can't cheat us, isn't it?
... Well, in real life different shit will happen.

One ot the most famous hack was that carried on Polychain Network.
Namely, an unknown attacker penetrared two of the most dignificant POLYCHAIN smart contracts and robbed 610 millions dollars and transferem them to unrelated addresses (on ETHER and Binance blockchains).
Luckilly the Polychain founders managed to contact with the hacker, and make a composition, so finally the hacker returned about half of stolen founds.

Also an impresive amount was stolen from another DEFI platform - Wormhole,its a so called "bridge" where you can send tokens between diferent blockchains, for example ETH-BNB or ETH-SOLANA.
In this case the vurnerability of bad written code in smart contract was used to steal 325 milion $ in wrapped ETH.
The hacker by mean of forged,  valid signature for a transaction managed to freely mint 120,000 wETH.
Then this amount was exchanged for around $250 million in Ethereum that was sent from Wormhole platform to the hackers’ account. This resulted in liquidating a large amount of the platform’s Ethereum funds that were being held as collateral for transactions on the Solana blockchain.

Another, quite different dangers connected with DEFI are so called rug pulls.
This metods mayby aren't so spectacular as the two described above, but they can be even more dangerous, becuase of its simplicity, they can appear very often.

This happens when developers create a token paired with standard cryptos like ETH or USDT, list the token on a  DEFI exchange (DEX), and pull all the funds out from liquidity pool after investors' buy-in.
More exact description of this mechanism is featured at coingecko website ( link placed at sources.
The (in)famous rug pull was made on Squid Token (named after famous Netlix serial) when 2,3 billion dollars from investors just dissapeared.
We can admire, that great dumping rug pull  on a movie attached below.