DeFi isn't safe anymore because AI is becoming 'superhuman' at hacking, security chief warns
Key takeaways
- The warning from one of crypto's top security executives comes as DeFi's total value locked has dropped by over $20 billion since the start of the year, according to DeFiLlama data.
- Solana-based Step Finance, meanwhile, shut down earlier this year after a $27 million exploit left the project unable to recover.
- That raises uncomfortable questions for DeFi, whose core security model was designed around human attackers operating at human speed.
The warning from one of crypto's top security executives comes as DeFi's total value locked has dropped by over $20 billion since the start of the year, according to DeFiLlama data. While some of that reflects broader crypto price weakness, the sector has also been battered by a steady stream of exploits that continue to test confidence in onchain finance.
PSA: I now consider *all* of DeFi unsafe.Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.
DefiLlama data shows that more than $1.1 billion has been lost to DeFi hacks over the past 365 days, including April's $292 million Kelp DAO exploit, which exposed how vulnerabilities in cross-chain infrastructure can quickly spill into the broader ecosystem. Solana-based Step Finance, meanwhile, shut down earlier this year after a $27 million exploit left the project unable to recover.