Hacken Scout — a new fundamental approach to DeFi security
Hacken has already brought fundamental security changes to the industry through the CER.live initiative. Its crypto exchanges CyberSecurity Score has been integrated into the CoinGecko Trust Score. As a result, now crypto exchanges are prioritizing security and regularly apply for different types of security testing to improve their ranking.
Now, Hacken is going to implement similar fundamental security transformations in the world of DeFi where users still face unprecedented security risks. Hundreds of tokens are circulating in the blockchain world. However, very often, users cannot find any information about tokens’ security such as the validity of security audits, rug pools, or whether a project has passed a bug bounty program. Last year, DeFi projects lost 129 million USD due to hacks while only for the first 7 months of 2021 this figure equalled 361 million USD.