Curve founder: Single points of failure are harming the DeFi industry; the industry needs to collectively develop security standards.

On April 21, PANews reported that Curve founder Michael Egorov published an article on the X platform, commenting on the recent series of attacks in the DeFi space. He stated that these avoidable attacks stemmed from centralized points of failure, damaging the entire industry. Egorov cited Aave as an example, pointing out that users were unable to withdraw funds due to an attack on rsETH, but all parties shifted blame—Aave claimed the protocol was functioning normally, rsETH claimed the code was secure and only the bridge was attacked, and LayerZero claimed everything was normal. Egorov emphasized that all such problems should be prevented before they occur, not remedied afterward; single points of failure should be reduced, not increased; and trust should be distributed when a point of failure is unavoidable. He called for all parties to jointly develop DeFi security standards, including how to securely build and verify security, and suggested that the Ethereum Foundation and the Solana Foundation convene ecosystem projects to participate in developing principles, rules, and recommendations for secure construction.

Share to:

Author: PA一线

This content is for market information only and is not investment advice.

Follow PANews official accounts, navigate bull and bear markets together
PANews APP
All three major U.S. stock indexes closed lower, with COIN falling more than 7.48%.
PANews Newsflash