Saving DeFi from financial hacks, with Quantstamp CEO Richard Ma

Lex chats with Richard Ma, CEO of Quantstamp -a leading blockchain security company. Richard kicks off by discussing the origins of the company and the importance of security in the blockchain space. He explains that the idea for Quantstamp came after he invested in Ethereum and witnessed the hack of the DAO, which prompted him to focus on the security side of Ethereum. Richard describes how Quantstamp conducts audits of blockchain projects, identifying vulnerabilities and providing recommendations for improvement. He emphasizes the importance of reading audit reports and understanding the risks associated with projects. Richard also discusses different types of adversaries in the blockchain space, including nation-state actors, developers seeking recognition, and financially motivated hackers. He believes that while established projects will become more secure over time, new experimental projects will always carry some level of risk. Richard suggests that AI-based debuggers could help improve security auditing in the future. He highlights EigenLayer, ZK-rollups, and the development on Solana as exciting sectors to watch in the coming years. MENTIONED IN THE CONVERSATION Quantstamps's Website: https://bit.ly/3Iv6zX4 Richard's LinkedIn: https://bit.ly/3IvaxyO Topics: blockchain, security, audit, hacking, hacks, crypto, cryptocurrency, digital assets, Web3, DeFi Companies: Quantstamp, Ethereum, MakerDAO, Compound, EigenLayer ABOUT THE FINTECH BLUEPRINT 🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2 🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV 👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS 1’30: From High-Frequency Trading to Fintech Innovator: The Journey to Creating Quantstamp 9’26: Demystifying the Audit Process: Inside Quantstamp's Approach to Securing Blockchain Projects 15’04: The Art and Challenge of Blockchain Audits: Navigating the Complex World of Code Review 19’37: The Nomad Hack: A Case Study in Preventability and the Importance of Diligence in Code Auditing 24’39: Web3's Adversarial Landscape: Unpacking the Motivations Behind Crypto Hacks and Security Breaches 29’13: The Ethical Dilemma of Crypto Hacking: Navigating the Fine Line Between Exploitation and Market Manipulation 34’59: Exploring the Frontier: Key Innovations Shaping the Future of Blockchain in 2024 and Beyond 36’34: The channels used to connect with Richard & learn more about Quantstamp