On crypto social media, discussions about the vulnerabilities of DeFi News have sparked conversations around AI agents. The primary concern is that AI agents outperform humans in identifying vulnerabilities, putting even relatively robust large DeFi News protocols at risk.
Manuel Araoz, founder of Open Zeppelin, pointed out that DeFi News is overall more susceptible to attacks, primarily due to the use of AI analysis. He warned that AI poses a continuous threat to decentralized projects.
He stated:
“I now believe that *all* DeFi News is unsafe.”
Araoz emphasized that coding agents have capabilities in discovering vulnerabilities that exceed those of ordinary individuals, while the security of smart contracts is overly asymmetric: the defender must fix every vulnerability, while the attacker only needs to find one to steal funds.
He issued a warning regarding the use of the most mature DeFi News protocols like Aave, Sky Protocol, and Compound. Some investors currently believe these protocols are relatively safe, but it is still essential to pay attention to setting time locks and avoiding unauthorized operations.
Is AI Triggering a Wave of Hacking Attacks?
Warnings about AI potentially exploiting DeFi News protocols are spreading across crypto social media. The biggest concern is that despite years of audits, many projects may still have vulnerable smart contracts.
Recent attack incidents also indicate that some DeFi News protocols have centralized elements, allowing threat actors to control the system.
DeFi News Hacking Attacks Slowed Down in May
After nearly daily attacks in April, the number of hacking incidents in May has decreased, returning to a baseline level. Statistics show that approximately $44 million has been stolen in various attacks this month, primarily targeting smaller protocols.
In May, attacks on DeFi News protocols returned to baseline levels, following the attention drawn by KelpDAO's records in April. | Source: DeFi NewsLlama.
May reported about 14 attacks, with the most severe one affecting ThorChain. Currently, the lending protocol is still operational but also faces vulnerabilities such as flash loan and potential bridging risks.
Due to the impact of the attacks in April, combined with the weak ETH prices, DeFi News has been somewhat affected. As a result, the total value locked (TVL) in DeFi News protocols is currently around $81 billion, down from $98 billion in April. The current TVL level only reflects nominal prices, as there are actually more assets locked in DeFi News as a source of passive income.