Ironclad DeFi Defense: Essential Strategies to Secure Funds on Decentralized Exchanges
Decentralized exchanges (DEXs) have redefined peer-to-peer finance by enabling direct blockchain-based trading without intermediaries. This shift grants users full control over their assets but also demands rigorous self-custody practices. The absence of centralized oversight means security failures can lead to irreversible losses.
Operational risks—not just smart contract exploits—pose the greatest threat. In 2024, 70% of stolen funds resulted from infrastructure attacks, including phishing and malware targeting private keys. A multi-layered defense strategy is non-negotiable for DeFi participants.