Dyma Budorin - Why Smart Contract Audit is Not Enough
1. Importance of Team Stability for Security
Dyma emphasized that even with significant investment in security, a single weak link can jeopardize the entire system. He pointed out that if a DevOps employee is undervalued, it can lead to mistakes or deliberate actions that expose the organization to serious risks. This underscores the need for organizations to ensure team members are satisfied and feel secure in their roles, as discontent can lead to dangerous decisions.
2. Vulnerabilities in Supply Chain Security
Dyma highlighted a specific instance where a significant hack occurred not through direct compromise of company systems, but rather via a vulnerable supply chain provider. This illustrates that organizations need to adopt a more holistic view of security, one that includes all aspects of their operational infrastructure, not just the internal development processes.
3. Employee Awareness is Crucial
According to Dyma, employees—especially in exchanges—are prime targets for hackers. It's essential to create a culture of security awareness within an organization, where employees know the risks and are trained to recognize potential phishing attempts and other security threats. Hackers often wait for the opportune moment to strike, which requires heightened vigilance from all team members.
4. Limitations of Recovery after a Hack
Dyma shared insights into the grim reality of recovering hacked funds, stating that the chances of recovery are typically below 0.05%. He encouraged companies to be realistic and discouraged reliance on services that promise fund recovery without transparency. This messaging serves to remind stakeholders that preparedness is far superior to post-event remediation.
5. Engage Trusted Security Partners
Dyma recommended partnering with experienced security firms rather than solely trusting internal teams, as external security professionals bring broader knowledge from various attack vectors and experiences. Their engagement can provide much-needed perspectives and additional layers of security that in-house teams may overlook.
6. Importance of Bug Bounty Programs
Dyma strongly endorsed the practice of implementing bug bounty programs, asserting that these are critical as no single audit can guarantee complete security. By involving the community in identifying potential vulnerabilities, organizations can cover a wider range of potential issues and enhance their security posture significantly.
