This means that there's ample room for criminal activity as well--which makes it all fascinatingly easy to leverage against someone who doesn't know what they're doing or how risky this type of investment can be.
While DeFi is a game-changer in the crypto space, it is very risky as it has security flaws. Looking at 2021 alone, billions of dollars have been stolen by hackers leaving users and founders rekt. Sadly, DeFi hacks doesn't appear to be stopping soon because there are still criminals in the space.
It then becomes necessary that as a DeFi protocol user, you apply maximum security measures so as to enable you be on a safe side.
Very risky!
Audits are great and definitely help stave risk, but they are not the end all and be all. There is risk no matter what. I think education, diversification and the fundamental principles of good investing practices are what we need to push forward to DeFi users. That's the only safe way about it!
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