Hackers stole more cryptocurrency from decentralized finance (DeFi) platforms than ever before in 2022. Nearly 98% of all tokens launched on DeFi’s flagman DEX Uniswap were identified as rug pulls.
The latest one, Defrost Finance, came as a Christmas nightmare for crypto investors, wiping out $12 million of their money.
Most hacks on DeFi platforms happen through security breaches and code exploits. Projects that end up being rug pull scams have serious security issues that have been let slip or, maybe, undetected on purpose. To prevent similar risks DeFi security audits are critical.
Find out more about these audits, how they are conducted and whether it is possible to run a DeFi audit by yourself.
What is DeFi Security Audit?
DeFi projects are implemented as complex, self-executing smart contracts, often transparent and open-source. They act as legal agreements between two parties. And since no centralized entity is behind it, even a small bug in smart contract
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