OpenZeppelin founder says he now considers 'all of DeFi' unsafe
Manuel Aráoz, co-founder of crypto security firm OpenZeppelin, said that he now considers "all of DeFi" unsafe.
In a Tuesday post on the social media platform X, Aráoz wrote that he has been personally advising friends and family to exit all DeFi positions. This includes lower-risk positions in "blue chip" protocols such as Aave, MakerDAO, and Compound.
Aráoz pointed to the ongoing asymmetry between attackers and defenders in security incidents.
"Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric," Aráoz said. "Defenders need to fix every bug while attackers need just one exploit to steal funds."
The OpenZeppelin founder's comments reflect heightened concerns over DeFi security amid a series of major breaches in recent months.
Worst month since Bybit
According to The Block's data dashboard, nearly $630 million was stolen from DeFi protocols in April, marking the worst month for DeFi hacks and exploits since February 2025, when Bybit was hacked for roughly $1.5 billion.
April was marked by the $285 million exploit of Drift, which fell victim to a six-month social engineering scheme, and the $293 million exploit of Kelp DAO, which targeted its cross-chain bridge vulnerability. Both attacks have been widely attributed to North Korea's state-backed hackers. There were a total of 27 reported cases of DeFi exploits last month, according to DefiLlama data.
Confidence in DeFi has taken a notable hit, as reflected in the declining total value locked across protocols. DeFi TVL is down about 14% since mid-April, falling from approximately $172 billion to $148 billion.
May has also seen 25 DeFi exploits so far, though on a smaller scale. Notably, Verus Network's Ethereum bridge was exploited for $11.6 million. Prediction market platform Polymarket also acknowledged a $573,200 security breach last week, possibly linked to a private key compromise involving a wallet used for internal top-up operations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Assessing if Avalanche’s growing network activity can spur AVAX’s price recovery

Berkshire's stock hits a new high amid tech plunge as return to yen bonds sparks heated "increase positions in Japan" discussion
Berkshire Hathaway has hired banks to prepare for its first yen bond issuance since April, aiming to raise more funds in Japan. According to sources familiar with the matter, Berkshire has mandated Mizuho Securities and Bank of America Securities for a potential benchmark yen bond issuance, which is expected to take place in the near future, though the exact timing will depend on market conditions.
Nomura's monopoly is being challenged! Mizuho (MFG.US) is reshaping Japan's underwriting landscape with global IPOs
Mizuho is establishing a solid foothold in Japan's equity capital market by leveraging a unique and highly profitable track: on one hand, it is tapping into the strong demand for AI financing from the US market, and on the other, connecting with the vast domestic household savings in Japan.

