Why Every Crypto Project Needs Proper Oversight
Wednesday, 24 April 2024, 16:57
The Importance of Oversight in Crypto Projects
The recent exploit of the decentralized Mango Markets by Avi Eisenberg has raised concerns about the lack of effective oversight in crypto projects. The incident highlighted the perverse incentives associated with bug bounties and the vulnerabilities that arise without proper monitoring.
Security Risks in Decentralized Platforms
- Centi-million dollar exploit exposed vulnerabilities in Mango Markets
- Over-reliance on bug bounties can lead to security lapses
In light of this incident, the need for a vigilant sheriff to oversee crypto projects becomes evident. A proactive approach to regulation and oversight is crucial to ensure the security and integrity of decentralized platforms.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.