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DeFi protocol in $3m scam was ‘Certik audited’

Decentralized exchange Swaprum on Arbitrum blockchain lost $3 million in a theft by its developers, who laundered the funds through privacy protocol Tornado Cash. The protocol was audited by CertiK, which has recently been criticized for failing to identify potential rug-pull risks. Smart contract auditing alone does not mitigate such risks and the industry needs an infrastructure layer that consolidates all relevant security information on every project, said Dyma Budorin, CEO of blockchain security firm Hacken. Swaprum is the latest in a series of Certik-audited protocols to lose funds due to critical vulnerabilities.

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