Hacks, Houdini acts, and rug pulls: why DeFi smart contracts must be more secure than smart in 2022.


As crypto assets became more mainstream in 2021, incidents of hacks and rug pulls also increased. Decentralised finance of DeFi accounted for 76% of all major hacks last year. On the other hand, the value locked in DeFi products rose to USD300 billion. How does one stay safe and benefit from DeFi products? Here’s our take.

The year 2021 was kind for the world of cryptocurrencies. Happiness came in pockets from around the world. Central American country El Salvador, for its own reasons, adopted Bitcoin as a legal tender. The US finally got its first Bitcoin exchange-traded fund. The total market cap of crypto tokens increased from USD776 billion to USD2.2 trillion last year — that is more than the GDP of Russia or Canada.In brief, crypto assets came a long way from

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