Curve Founder Criticizes Frequent DeFi Vulnerabilities: Single Points of Failure Pose Hidden Risks, Calls for Unified Security Standards

Odaily News: Curve founder Michael Egorov posted on platform X, stating that DeFi will still become the future of the global financial system. However, a large number of recent preventable security incidents (mostly stemming from centralized single points of failure) are severely damaging the industry's development.

Using the Aave and rsETH incident as an example, he pointed out that multiple parties claimed "the system is operating normally," yet users were unable to withdraw funds, exposing issues of infrastructure dependency and dispersed responsibility.

Egorov emphasized that the industry should reduce the risk of single points of failure beforehand and, when inevitable, distribute trust, while also sharing best practice configurations and security experiences. He called for the establishment of unified DeFi security standards and suggested that ecosystem institutions, including the Ethereum Foundation and Solana Foundation, take the lead in formulating principles and norms for building and verifying security.