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Curve founder: Single point of failure is harming the DeFi industry, and the industry needs to jointly establish security standards.

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PANews
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23 days ago
AI summarizes in 5 seconds.

PANews April 21 news, Curve founder Michael Egorov posted on the X platform, expressing views on the recent attacks in the DeFi field. He stated that these avoidable attacks are rooted in centralized failure points, damaging the entire industry. Egorov used Aave as an example, pointing out that users are unable to withdraw due to rsETH being attacked, but parties are passing the responsibility to each other—Aave states that the protocol is operating normally, rsETH claims that the code is secure and only the bridge was attacked, LayerZero asserts that everything is normal. Egorov emphasized that all such issues should be prevented before they occur rather than remedied afterward, and that single points of failure should be reduced rather than increased; when failure points are inevitable, trust should be decentralized. He called on all parties to jointly formulate DeFi security standards, including how to safely build and validate security, and suggested that the Ethereum Foundation and Solana Foundation convene ecological projects to participate in establishing principles, rules, and recommendations for safe construction.

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