According to CertiK’s CEO Professor Ronghui Gu, last year’s $1.4 billion reported Web3 losses involved multiple factors beyond bugs, highlighting the need for layered defenses and stronger investment in security measures.
At Korea Blockchain Week, CertiK co-founder and CEO Professor Ronghui Gu discussed Web3 security challenges during a panel on smart contract vulnerabilities. He clarified that the $1.4 billion losses reported last year stemmed from multiple causes, not just code bugs. Stressing that absolute security is unattainable, Gu outlined CertiK’s multilayer defense strategy combining audits, reviews, and monitoring. He urged blockchain projects to allocate more resources to security, referencing WEMIX’s completion of over 120 audits and Kaia’s decision to appoint CertiK as its exclusive security partner.