Is DeFi safe?

[raisajahan]

While traditional financial services often have some degree of deposit insurance, such as FDIC, DeFi applications are still at an early stage, and most do not provide this kind of protection. Consequently, the onus is on the end-user to ensure their funds are safe while using these new applications.

[juv3ntus1]

 Around 12 hours ago Warp Finance got hacked,the platform was exploited with a complex flash loan attack and lost stablecoins who worth around $7.7M , the hacker found a way to borrow more than their collateral value, the team say they have a plan to recover approximately $5.5m will see if its true or not but I can't say the defi project are safe when are so many project who are problems with the security .

[Nikawe]

What's happening in the cryptocurrency market and exchanges? Livecoin,,kucoin, origin protocol, dai defi, wrapped bitcoin etc hacked very much sad news for crypto supporters.

[Shahinaz]

well and not defi for now has not been seen, no doubt everything can be hacked or something.
defi have promise i think to invest

[Hometown]

What's happening in the cryptocurrency market and exchanges? Livecoin,,kucoin, origin protocol, dai defi, wrapped bitcoin etc hacked very much sad news for crypto supporters.

Recently livecoin .net hacked that makes me more worried because many centralised and decentralised exchanges hacked within a few months duration. How could a exchange be hacked?

[Oxumare]

The vulnerabilities still persist.We read new news every day.
See COVER.With the attack on the staking protocol of the Cover project, the attackers made millions of dollars. The cover price has crashed by 77% in the last 24 hours and has lost almost a large part of its value.

[jonathancool220]

DeFi was created for anything that is not centralized.
The early cryptocurrency system was created and this is a great thing for anyone looking to invest in altcoins for short term only.
If after experiencing profits from trading on DeFi then it is better to return our assets to Fiat.