Cybersecurity Experts Warn Blast Users\' Funds Are at Risk Due to Reliance on Unreliable Third-Party Protocols

Cybersecurity experts at web3 firm Resonance Security are raising concerns related to the security implications of Blast's reliance on third-party decentralized finance protocols.

Cybersecurity firm Resonance Security has highlighted potential security risks associated with Blast’s integration with third-party DeFi protocols.

According to the firm, Blast users’ tokens could be impacted if yield-generating pools or protocols on Lido or MakerDAO are compromised.

Resonance Security analysis suggests that Blast’s reliance on external protocols for generating yield carries inherent risks due to varying security practices among these protocols.

For instance, MakerDAO, which generates 5% yield for USDB (Blast’s stablecoin) holders, has not published a security audit of their smart contracts in three years.

In contrast, some of MakerDAO’s most recent public audits are even five years old.

This disparity in recent audits raises concerns as smart contracts can be susceptible to newly discovered vulnerabilities and should be audited periodically to protect against those new discoveries.

To mitigate third-party risks, Resonance Security suggests that Blast prioritize close collaboration with their partners to develop and uphold stringent security standards that can save projects many headaches in the long run.

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