OpenZeppelin founder says he now considers ‘all of DeFi’ unsafe
The Block
OpenZeppelin co-founder Manuel Aráoz is advising others to exit DeFi positions due to the increasing asymmetry between attackers and defenders in blockchain security.Summary
Manuel Aráoz, co-founder of the security firm OpenZeppelin, has publicly stated that he considers the entire decentralized finance (DeFi) sector unsafe. Citing the inherent security asymmetry where defenders must prevent every vulnerability while attackers only need one exploit to succeed, he has advised friends and family to withdraw their assets, even from established protocols like Aave and MakerDAO. This warning comes amid a period of significant hacks, including major exploits at Drift and Kelp DAO, which have contributed to a notable decline in total value locked (TVL) across the DeFi ecosystem.
(Source：The Block)