What are the security risks in decentralized finance?
An example of an AI chatbot conversation about decentralized finance security risks.
What are the security risks in decentralized finance?
Decentralized finance (DeFi) has several security risks, including smart contract vulnerabilities, hacking, and liquidity issues.
Can you explain smart contract vulnerabilities?
Sure! Smart contract vulnerabilities can arise from coding errors, which can be exploited by attackers to steal funds or manipulate transactions.
How can I protect my assets in DeFi?
To protect your assets, use reputable platforms, conduct thorough audits, and consider using hardware wallets for storage.
What are some common DeFi hacks?
Common hacks include flash loan attacks, rug pulls, and oracle manipulation, which can lead to significant financial losses.
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