A big concern for users in decentralized finance (DeFi) is its susceptibility to exploits. A report from Privacy Affairs revealed hackers stole $4.3 billion worth of cryptocurrency from January to November 2022 — a 37% increase from the previous year.
Such exploits harm the integrity of companies and fuel skeptics from outside of the space in their case against cryptocurrencies. However, in a Feb. 2 announcement from Web3 Builders, the company revealed a suite of tools to combat this issue.