Rethinking Security: Why DeFi Projects Should Learn from Hackers and Adopt Unorthodox Approaches

Spherex Technologies CEO Eyal Meron has emphasized the importance of implementing better preventative measures to minimize damage caused by DeFi protocol hacks. Despite undergoing multiple audits and monitoring solutions, hackers have still managed to steal $6 billion from DeFi protocols alone. Meron suggests that DeFi projects should adopt unorthodox problem-solving approaches and proactively educate team members on common phishing methods and signs of suspicious activity. Rather than expressing gratitude for a rival protocol being hacked, projects should study the incident and apply the lessons learned to their own security measures. A radical rethinking of the current approach to crypto protocol security is necessary, with more proactive capabilities, improved threat prevention, and a willingness to learn from the opposition.