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Why is DeFi still so vulnerable to hacks?

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by COINS NEWS 32 Views

It seems that, despite the growing adoption, Defi still has security problems. That may be due to the fact that hackers are becoming better in discovering bugs: for example, the recent Curve exploit was caused by a bug in the code compilator of certain smart contracts written with the Viper programming language. Curve has been around for many years now and has always worked fine, so it means that this bug was pretty well hidden and not easily exploitable.

Another reason why DeFi may always be vulnerable is its intrinsic nature. DeFi protocolos are based on an open source code, that can be viewed by everyone. On one hand, this expresses the basic motto of crypto "Don't trust, verify". On the other hand, this allows malicious attackers to spot bugs and to take advantage of them if they're faster than who's supposed to fix them.

Finally, the problem of bridges. It appears that these platforms, that are on the middle of two chains, find difficulties in being secure. I think that inter-chain operability will be the key of crypto mass adoption, but nowadays there's still work to do in order to build a stable infrastructure.

Crypto is still in its early days, the Internet took decades to work flawlessly as we see today, so I'm positive that these issues will be solved in the future.

Do you entrust DeFi with a lot of your funds or do you just experiment with it?

submitted by /u/Matth3w_95
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