A recent study reveals that only two DEXs received high-security scores, while the majority were deemed insufficiently safe.
Cryptocurrency exchange ranking platform Cer Live released a report indicating that 14 out of the top 25 decentralized exchanges (DEXs) scored poorly in cybersecurity. The analysis highlights critical vulnerabilities, including fake token listings, excessive slippage, delayed transaction confirmations, and insufficient trading pair data.
Key Findings
- Security Audits: Only Uniswap and Synthetix achieved a "high" security rating (score >8).
- Low-Rated Exchanges: 92% of DEXs scored below 6, classified as "unsafe."
- Audit Gaps: 24% of exchanges either failed audits or didn’t publish audit reports.
"Unaudited exchanges cannot be considered secure."
— CER Report
Major Risks for DEX Users
- Fraud Over Hacks: While DEXs avoid large-scale hacks, users face higher risks from fraudulent activities.
- Lax Audit Practices: Many platforms skip re-auditing after code updates or rely on individual researchers instead of professional firms.
Recommendations
- Adopt Industry Standards: Follow best practices for smart contract audits and bug bounty programs.
- Enhance Transparency: Publish audit reports and ensure end-to-end security.
FAQ Section
Q: Why are DEXs riskier than centralized exchanges?
A: DEXs lack intermediaries, making fraud detection harder—though they’re less prone to systemic hacks.
Q: How can users identify a secure DEX?
A: Check for published audits, active bug bounties, and a track record of timely updates.
Q: What’s the safest DEX in 2025?
A: Uniswap and Synthetix currently lead in security scores per CER’s report.
For deeper insights, refer to the full CER report.
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