An updated look at DeFi audits and bug bounties

Decentralized Finance (DeFi) has grown exponentially over the past year from $17.06B to $202.73B in gross total value locked (TVL). At the core of all DeFi applications lies a series of well-written smart contracts that ensures every transaction on-chain occurs the way they are meant to. At least, until an exploit surface.

With the exponential growth in DeFi TVL, it becomes more tempting for hackers to exploit smart contracts for financial gains. As of this writing, there has been over $680M worth of funds stolen in DeFi hacks, according to The Block’s Data Dashboard. As a result, smart contracts audit firms are seeing greater demand in audit requests from DeFi protocols.