RabbitVectorStory
Audited crypto projects still lost $1.18B to hacks in Q3
Leans negative
Highlights ongoing, large-scale hacks despite safety checks
What happened
A security firm called Hacken found that projects which passed a security audit (a one-time code checkup by outside experts) still got hacked for a combined $1.18 billion in the third quarter. The point is that an audit badge doesn't mean a project is safe forever, since code changes and new attack methods appear after the audit is done.
Why it matters
If you hold or use crypto apps, this is a reminder that 'audited' isn't a guarantee of safety, it just means someone checked the code at one point in time.
Should I do anything?
No immediate action needed, but it's worth remembering that audits reduce risk, they don't eliminate it, so be cautious with how much you keep on any single platform.
Terms used
- audit
- A one-time review by security experts checking a project's code for bugs or vulnerabilities