Why DeFi Security Matters

Transcript

computer science at Tel Aviv University and he's going to tell us about why defi security matters and why he and his team really started DSS few years ago so please welcome muli sagiv thank you very much rajib uh maybe you can start the slides from uh the back I don't know can you start the presentation I see it here still not in the screen uh yeah it's in the laptop and it's connected and everything oh it's coming great okay so I'm excited to be here as Rajiv

mentioned uh four years ago I started the DSs I didn't know that it would be such a good success it's a I think it's a was a fantastic experience for me as academic sort of taking things from Academia to practice the this is a joint effort many many people work and help me here particularly I want to point out I Christian who's been with me from the beginning actually four years ago he's was unable to come he will come later I want to point out V which is hiding here but she's actually running the whole thing amazing thank you V maybe you can clap if you can uh I think I want to point out Rajiv and Moody to actually been helping us

with content from day one one actually from the beginning from the co time it's great and also I want to point out uh uh other people including F fiorella from Satora who help us so much thank you all for this work uh the idea of defi security Summit is that we try to get very good content in this field and the way to get content is get people to help us get cont so these are amazing set of the people who volunteer to help Us in C curating the contest basically you submit your work and then we are let uh give them to the to these uh fantastic reviewers and they

actually create create the contest and this is how you get the contest so please thanks them uh it's a huge effort please help us and we want to make this like a very very good conference in this in this field and we want and the way to do it is to Cate the content so why are we here why are we here that's of course obvious uh answer is bugs but this is actually for this uh we actually started to to see what are the effects of the bug I think last year we had Peter from coinbase explaining this so we try to do it on our own so EUR Sherman from Sor actually went into

re and tried to classify and the result where were actually surprising to us so of course not surprising that many many bugs in smart contract but the interesting thing that they're equally and even more bugs not in smart contract related to Key Management so here I uh according to re is around1 billion dollar which is lost due to Key Management but in fact according to mudit which is not here at the moment it's more than five because the idea is that a lot of the bugs which happened and so these are connection between web two and web three and these bugs are really really important and they're costing a lot of money the other problems DNS servers supply chain attack

dependen on other things they are all sort of costing bugs and maybe the last but not least even Twitter hacks we see good companies who actually been hacked in Twitter and these are all problematic things so you see a lot of money is lost due to bugs and maybe something which is I think also you can measure there is some kind of reputational damage so once you have a bug if a protocol has a bug the effect of it is that other people lose the trust in that this could be internal this could be external this could be the value of the coin and I you can actually look at it and measure it and you can see for example protocols

has bugs versus protocol who do not have bugs and you see that the value is different so these are all effect of bugs many of us are interested in smart contract so in smart contract it's a it's still a Dom menu we see that the billions of dollars are lost and here you see the characterization of the bug again according to re and you see reeny is still an issue but rounding errors is also picking up uh price manipulation Tech is still a problem other logical mistake but the biggest mistake is Access Control actually if people are doing something wrong which is actually affecting so all of these are bugs that

comp that that we in DSS and others as security researcher and as protocol developers are trying to prevent so what is our solution there are lot of very good uh initiative in this Space etherum Foundation trust x what we try to do we try to create an annual conference and this annual conference is supposed to educate the field it's inspired by very good conferences in web to in particular Devon and CCC are very very good amazing conferences but it's bit a bit different it's not just focus on the security research it's connect the security research and the

protocol and here you see Raj session at last year DSS so you see actually that here is the panel of the Auditors if you haven't see it see it live so this these are things that actually people connect together and they talk about things and hopefully you will see also in this here and DSs we already seen in 101 we are creating discussions to educate this space so how do we do DSS so DSS was inspired by another conference called the Stanford blockchain conference and it has some principles which are a bit different than what you usually see especially in web three so one principle

this is a marketing free event and it also means that when you are actually providing sponsorship or anything you are not actually expected to get anything but your web name here and I want to acknowledge all the sponsors in particular I want to acknowledge Electric Capital which is actually a VC FM which is support developers and they have been supported DSs from the beginning and actually this year they are supporting us on the diamond level I want to also acknowledge all the gold sponsors and I think you have an interview with them during lunch I encourage you to these are companies who's been helping us to create this context and thanks them all so Quant stamp Sigma Prime Aptos aen Le a hexen

stellar and new one actually Black Horn please they just came late please give them thanks they came late and the sponsor is very good thanks them please so these are goals sponsors you will hear about them later they are sponsoring us and without them we could not do this this event there also silver sponsors also some of them has been with us since the beginning since the first time open Zeppelin fand is a new security company in this space Lio also supporting us H tenderly starware and the van so again thank them please oh I'm getting I should be so there's bronze sponsors spear beat

trail of beat ddab thrash block etherium France immuni etherium Foundation Civic Sherlock rare skills and an asymmetric research and new security firm in the Solana thank them please and the other volunteers they are here please thank them they are helping us all the time and they will please thank them okay so this is not a technical presentation but still I want to show you how we view things in terms of security so basically review security is the four things sort of four things going together the first one is shift left you have to start early think of

security and think of security early the second thing is the artifact you want to create artifact that prove your your think these are things that you do wow it's going through F and the third thing is tool and finally is the process so how do we do this we communicate we we we have we we connect the community the First Community is the builders you see all the builders the second Community is the two the tool providers you see the tool providers and in the middle you see actually the the Auditors the services and they're all together they're all together and you see them in DSS uh we Ed about existing attack tools

open problems and of course we create more talent and you see 101 thank you all here are some nice stories and please give us more the most important for you especially if you are new in this field we have career OPP this is new please apply we have very good teams and DSs is a recuring event you see the first time it was small increased it in DSS uh last year and are even increasing this year hopefully next year we are creating more and more content uh this year we have done three new things we have the seal partnership that is coming later we have career opportunity I also mentioned and there

are technical Workshop this is very new here and please attend some of them if you don't attend three of them you cannot say that you attended DSS so please attend three of them you have many of them during the two days and request from the speaker including myself time your lecture do not promote your product and educate us there are many ways you can help us I on time now so please thank you [Applause]