, the associated risks of losing millions of dollars due to a hack or exploit are more apparent than ever before. Due to this, conducting a risk assessment to identify scenarios where all blockchain implementation risks can be eliminated or minimized is critical for blockchain startups. However, these threats are novel and hostile actors have various entry points to inflict damage to the cybersecurity framework of a blockchain startup.
Experts in the field of risk management have acknowledged that blockchain technology risk assessment is a critical tool for risk management concerning smart contracts. Understanding smart contract risks are crucial for crypto investors to fully understand any technology risk crypto investors may be exposed to when using smart contract-based DeFi applications. For example, interacting with malicious smart contracts can lead to the drainage of virtual assets from the metamask application.