Curve Founder Criticizes DeFi Security Issues: Calls for Industry Standards to Prevent Avoidable Vulnerabilities

Michael Egorov, founder of Curve, expressed on the X platform that DeFi will remain the future of the global financial system, but recent avoidable security incidents—largely stemming from centralized single points of failure—are severely damaging the industry’s development. Citing the Aave and rsETH incidents as examples, he pointed out that while multiple parties claimed ‘the system is operating normally,’ users were unable to withdraw their funds, exposing issues of infrastructure dependency and dispersed responsibility. The crypto industry should work to reduce single point of failure risks beforehand and, when unavoidable, distribute trust while sharing best practice configurations and security experiences. He called for the establishment of unified DeFi security standards and suggested that ecological institutions, including the Ethereum Foundation and Solana Foundation, take the lead in developing and validating principles and norms for safety.