Ethereum advances with standards for smart contract security audits

22 Aug 2022

Ethereum advances with standards for smart contract security audits

Ethereum advances with standards for smart contract security audits The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks and scams. For instance, recent findings from crypto intelligence firm Chainalysis show that crypto-related hacks have increased by 58.3% from the beginning of the year through July 2022. The report further notes that $1.9 billion has been lost to hacks during this timeframe — a figure that doesn’t include the $190 million Nomad bridge hack that occurred on August 1, 2022.

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