Security remains one of the Web3 industry’s most important and relevant issues as decentralized finance (DeFi) protocols and enterprises continue to face exploits.
At the Israel Crypto Conference, Cointelegraph talked to Shahar Madar, the head of security products at Fireblocks, about the necessary steps Web3 startups should take to secure their platforms and users.
Madar told Cointelegraph that, in his experience, many new startups usually delay developing a security protocol to focus on growth.
However, Web2 models for enterprise security don’t work in a Web3 world with such an emphasis on finance. He said from the “attacker’s perspective,” they always look for a return on their project exploits.
“This is the thing that people miss. Everyone sees what they’re doing — the code is usually open source. Everyone can interact with their project and they are not prepared for that.”
Madar stressed that companies need to consider a security framework by asking important questions like, “How do you vet your team?” “How do you place access control?” and “How do you test your infrastructure map and prepare for the incident?”
“[Companies] need frameworks and products that help them hit the ground running in terms of…
