Is DeFi safe?

[EAA-ALLAH]

Now a days DeFi is only the best platform to invest. So i think obviously DeFi investment is safe and secure.

How can you be sure about a project? Recently defi projects are becoming more scam and seized by hackers. Before investing any DeFI projects you should remember some features and criteria.

[Tnoy30]

I don't think DeFi tokens are risky. There are many coins in the market, not all coins are established in the market. However some coins are established in the market. DeFi coins are now well established in the market. The level of investment is constantly increasing. The popularity is growing. So I think the risk in DeFi space is less.

[densus88]

DeFi platforms may not be at risk of security breach in the same kinds of ways that centralized platforms are–but they certainly aren't completely safe from harm... Please comment.

In my opinion DeFi platforms are smart, But I confused, why there is several DeFi has been hacked. I don't know why. Because I think DeFi is really safe and secure. Maybe other people can suggest why It was happened.

[Apower$]

At the present time I have seen that more and more investors are leaning towards this project nowadays.  Again, I came to know from a senior brother post that some projects of DeFi are being scammed.  If this is the case with Islam, then more people, especially investors, will not lean towards this project

[Komorhan]

I think it is so,we could see how in recent months hackers have withdrawn tokens from liquidity pools,deceiving the defi!

[Churphans]

I think it is so,we could see how in recent months hackers have withdrawn tokens from liquidity pools,deceiving the defi!

Yes sir you are just talking very important, many  unaspected events already occured in cryptocurrencies market, Kucoin hacking and a lots of dollars are theft by hackers. So only DeFI projects are more hacked.

[Lanirex]

Nothing is safe if we are reckless in investing or anything related to money, be it fiat, Cryptocurrency or whatever. When the DeFi project was very popular, it was very prone to fraud, hacker attacks and so on.  So we have to stay alert!

[Cinno3]

DeFi is one of the financial services for transactions in different places or regions of the world. So the popularity of DeFi has spread. There has been a lot of expansion around the world, especially in the cryptocurrency market. So I think DeFi is safe.

[vaysar]

Open-source. As in the case of the blockchain itself, services using opensource protocols are more trustworthy: they can be verified, they can be modified, and can be used in other services.

[Istiak]

DeFi platforms may not be at risk of security breach in the same kinds of ways that centralized platforms are–but they certainly aren't completely safe from harm... Please comment.

Every new project has its weakness and how they make it more strong and secure. But I think the DeFi project is secure than any non DeFi project. Some projects just got a security breaches before of poor developer choice and some of them are internal incidents. So DeFi just needs some more time to strengthen its foothold.

[juv3ntus1]

In my opinion i don't think the Defi projects are safe,a lot of defi platform got hacked,some of them was hacked more that once ,for example bzx project,got hacked 3 times only this year.

[Power420]

Defi is a completely safe platform. It is a very good and powerful platform.  The importance of this platform will increase a lot in the future but the blockchain is more powerful than the Defi platform.  Security is more on blockchain platforms.

[anobtc]

IMO opinion it's not safe at all to trade defi tokens, because of its violate and almost of them was manipulated by their devs and founders. Which means they can dump it to zero any time and you can lose all of your investment.

[juv3ntus1]

Another day another hack,the personal wallet of CEO Nexus Mutual got hacked yesterday,the thief stole NXM coins worth of 8.2 milions $,attacker found a way to access the CEO computer & modified the metamask extension, tricking him into signing a different transaction which transferred funds to the attacker’s own address.

[Monster5]

A really nice incredible Defy token is actually getting better day by day and can be expected to get better in the future. It is far ahead of other coins so I hope the Defy Token will go further in the future.Thank you so much for making this post hope you will benefit us by posting even better.