What Happened on April. 27th | Can we Trust Crypto Project Audit?

TI Research

Crypto projects always label themselves as audited to demonstrate their legitimacy and reassure users that their capital is SAFU. However, there are repeated reports of exploits for audited projects, and some projects have been exploited even after several rounds of code audits. Can we really trust code auditing? Looking at some statistics may be helpful.

Stacy Muur gives a data analysis on audited projects hacks:

The analysis was conducted using the REKT Database service, which compiles information about Exit Scams and Exploits that occurred in Web3 since 2011. The database contains over 3K records of hacks. CertiK, which accounts for approximately 70% of all audits in Web3 has audited 34 companies from the REKT Database. PeckShield Inc. comes second after CertiK with 18 instances of exploits and rug pulls.

She also compiled a list of top security companies based on their audit/hack ratio.

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TI Research

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