Article author:
DefiMoon
DefiMoon
Importance of the security audit for DeFi projects
The most important topic in blockchain has always been security.
The disadvantages of the traditional financial system and the risks associated with intermediaries in the financial environment have led to the popularity of decentralized finance (DeFi). Having made the transition to DeFi and getting rid of the previous risks, we received many benefits from decentralization, but the risks have not disappeared anywhere - they have only transformed to the vulnerabilities in the code of smart contracts.
At DeFimoon, we understand the importance of ensuring the security of blockchain projects at a high level.
That is why a few years ago we started our journey in this direction. Our goal is to make the WEB 3 space safer.
The smart contract audits market is growing every year because more teams, projects and investors understand how important security is. However, we still encounter projects that overestimate the quality of their code and underestimate the abilities of scammers and hackers. That is why in 2022 we still hear very often about massive hacking of projects, the theft of millions of dollars and the destruction of entire projects. All this negatively affects the entire blockchain community: investor sentiment is changing dramatically and trust in blockchain technologies is plummeting.
The smart contract audits market is growing every year because more teams, projects and investors understand how important security is. However, we still encounter projects that overestimate the quality of their code and underestimate the abilities of scammers and hackers. That is why in 2022 we still hear very often about massive hacking of projects, the theft of millions of dollars and the destruction of entire projects. All this negatively affects the entire blockchain community: investor sentiment is changing dramatically and trust in blockchain technologies is plummeting.
Why should an audit also be of interest to ordinary members of the community?
In the situations described above, not only the creators of projects and investment funds suffer, but also the ordinary community, because their money is literally disappearing. In addition, there are a huge number of scam projects.
Fraudulent functionality is laid down here at the stage of project creation, so before buying a coin or an NFT of this project, you need to be sure of the security of this code.
DeFimoon has experience working with different projects
from simple tokens to huge DeFi ecosystems and protocols, for example, Inverse.Finance, Spherium.finance and cnxnetwork.org. We are a team of developers and hackers, which means that not only does the code we create always goes through the thorough security review, but we also provide the full range of cybersecurity services.
Our Services
- Smart-contracts audit
- Quality testing
- Blockchain forensics
- Full engagement web3 application pentesting
- Application structural review
- Full engagement web application/service/system/network pentesting
- Red team assessments
Moreover
We offer security as a service with subscription-based approach — a program that would provide a continuous coverage of your security needs and an on-going support from a dedicated team member, deeply acquainted with your project. This product has proven itself well in our work with Inverse.finance that has been using our security subscription for 3 months.
Wrapping Up
Never put your DeFi security down!
Besides the golden rules above, you should remember that there is hardly a comprehensive list to cover all potential vulnerabilities. The more blockchain and DeFi grow, the more sophisticated attempts hackers create to exploit the systems and steal your money.
Never put your DeFi security down!
Besides the golden rules above, you should remember that there is hardly a comprehensive list to cover all potential vulnerabilities. The more blockchain and DeFi grow, the more sophisticated attempts hackers create to exploit the systems and steal your money.
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