Press Release
How Chainsulting Is Securing the DeFi Industry via Smart Contract Auditing
The rise of blockchain technology has opened the curtains for new opportunities, including decentralized finance (DeFi) applications governed by smart contracts. These protocols leverage decentralized networks and cutting-edge tech to bring innovative financial services to the masses.
By eliminating middlemen such as banks, DeFi projects bring lucrative earning opportunities and enable anyone to participate in traditional financial activities. These platforms provide for example, decentralized lending/borrowing access that benefits millions of unbanked folks worldwide.
Moreover, investors seeking huge returns find the DeFi sector very attractive, as it offers high-interest rate savings unmatched by traditional financial institutions.
Unfortunately, the colossal total volume locked (TVL) in DeFi has brought several security concerns. Users have lost billions of dollars to cybercriminals targeting various platforms, spooking potential investors looking to jump onto the DeFi bandwagon.
Part of the problem facing the fast-growing DeFi industry is that it lacks top-quality smart contract checks that could prevent cybercriminals from exploiting vulnerabilities on popular protocols.
As a result, cybercriminals have had great success targeting DeFi applications and siphoning billions in crypto funds to their private wallets.
A Look at Recent DeFi Hacks
DeFi gained traction in the summer of 2020, offering revolutionary lending products and huge returns but eliminating any involvement from intermediaries.
Since then, growth in the sector has taken place at lightning speed, with TVL in various protocols now surpassing $90B, per data from DeFiPulse. There are currently over 200 projects utilizing the blockchain and smart contracts to offer users unparalleled financial services.
However, success in this exciting and fast-moving sector has attracted bad actors looking to infiltrate DeFi code and siphon investor funds.
One of the most notable DeFi attacks dubbed the ‘biggest crypto heist‘ ever took place on November 19, 2021. Hackers exploited a loophole in Poly Network and stole $600M in digital assets.
More recently, in December of 2021, malicious actors struck again, targeting the popular DeFi protocol BadgerDAO. In this incident, hackers made off with over $120M in crypto, prompting Chainalysis to investigate the breach along with financial watchdogs from the US and Canada.
Unfortunately, these are not isolated smart contract breaches. As recently reported by CryptoSec, overall losses caused by DeFi exploits have amounted to $1.7 billion, with 75 protocols succumbing to the menacing threat of cybercrime.
Chainsulting Brings Excellent Security Solutions to DeFi
Chainsulting is a professional software development firm based in Germany that provides comprehensive distributed ledger technology (DLT) solutions. Some of their services include blockchain development, smart contract audits, and consulting.
One of the firm’s main goals is to develop tools and provide services to ensure every blockchain project is secure. They are determined to tackle the issue of continuous DeFi exploits that threatens to deter potential investors from putting their hard-earned cash into the blockchain and crypto economy.
So far, the lack of proper smart contract audits has seen multiple DeFi protocols fall victim to devastating hacks that have led to heavy losses. Per a report by blockchain tracing and security firm Ciphertrace, last year was overrun by numerous DeFi attacks that accounted for half of all the hacking incidents in the crypto world.
Chainsulting seeks to root out bugs and other vulnerabilities used by insidious cybercriminals to infiltrate DeFi applications. They have a proven track record of delivering customized security solutions with German technology that empower multiple DeFi and blockchain projects to maintain investor trust and gain a competitive advantage in the sector.
The firm conducts code audits for market-leading blockchains such as Hyperledger, Tezos, Ethereum, Binance Smart Chain, and EOS to mitigate risk and instill trust and transparency into the vibrant crypto community. They also review and secure the smart contracts of DAI, 1Inch, POA Network, Unicrypt, among numerous other top DeFi and crypto projects.
Chainsulting currently secures $100 billion in user funds locked in multiple DeFi protocols. The team behind the leading audit firm relies on their robust technical know-how in the blockchain sector to deliver top-notch smart contract audit solutions tailored to the clients’ evolving business needs.
The blockchain security provider brings the highest security standards to crypto and blockchain platforms, helping to foster growth and transparency within the fast-growing ecosystem.
The Chainsulting Smart Contract Audit Process
Chainsulting boasts over four years of experience in smart contract audit and has delivered reliable security solutions to more than 420 clients.
The company’s audit team composed of Germany’s top blockchain and digital assets experts leverages its domain-specific expertise to conduct smart contract audit tactics that differ from those deployed by other audit firms.
A code review by Chainsulting includes an Automated Vulnerability Test (HoneyBadger, MythX, Mythril, Oyente, Slither, Solhint) and thorough Manual Security Testing (SWC-Registry, Overflow, etc.). The auditing process also integrates a Gas Optimization and Coding Conventions Check, as well as thorough Function and Logic testing.
The blockchain security startup uses a real-time communication tool to connect with the project dev team and provide suggestions on how to remedy bugs and inefficiencies discovered during the audit process. The team also offers assistance to the token developers in applying the necessary fixes.
They then deliver a comprehensive report documenting the audit steps and recommendations. Finally, Chainsulting provides a Certificate of Compliance that reassures all DeFi users that the project is fully vetted and safe.
The leading blockchain auditor has done many notable audits for some of the most prominent crypto projects in existence. The team posts transparent audit results on their social media, GitHub, and Website, confirming that a given project’s code is fully secure and ready to go live.
Conclusion
Over the past few months, a spate of high-profile DeFi hacks has led some to refer to the young sector as the ‘Wild West’ of cryptocurrencies.
This year has seen some of the biggest crypto thefts in history. Increasingly sophisticated heists on dozens of top DeFi protocols highlight the need for project backers to adopt higher security standards to protect the integrity of the entire blockchain industry.
Chainsulting has introduced an intuitive smart contract auditing process that integrates elaborate steps to ensure 100% test coverage on all DeFi projects. This radical approach helps these decentralized protocols conquer the investors’ trust, propelling the nascent crypto space to greater heights.
Press Release
Hong Kong Web3 Festival 2025’s Title Sponsor OKX Web3 Launches Exclusive NFT Tickets
OKX Web3 has confirmed its continued support to Hong Kong Web3 Festival, recommitting as a Title Sponsor of the third edition of this epic conference taking place from April 6 to 9 at HKCEC. Its exclusive NFT tickets, 15% off the regular ticket price, are available for grabs now. See more details at https://www.okx.com/ul/q3xd9N
As a pioneer in driving innovations in the Web3 ecosystem globally, OKX Web3 is committed to fostering industry growth through technological advancements and has developed OKX Wallet as one of the industry-leading decentralized multi-chain wallets, which is capable of supporting over 100 public blockchains and offering users a seamless, one-stop experience in the Web3 world. As of November 20, the OKX Wallet plugin for Google Chrome has surpassed 2 million downloads, serving as a critical gateway for users to securely access and navigate the Web3 space.
Hong Kong Web3 Festival, co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, is Asia’s premiere crypto gathering that convenes the world’s smartest minds in the Web3 and crypto space. Its previous editions, which took place in April 2023 and 2024, brought together over 250 exhibitors, more than 800 speakers, 80,000 visitors and 300 side events. Previous speakers in 2023 and 2024 included prominent figures like Paul CHAN Mo-po, GBM, GBS, MH, JP, Financial Secretary of the Government of the Hong Kong Special Administrative Region, Vitalik Buterin, Co-founder of Ethereum, and Cathie Wood, Founder, CEO and CIO of ARK Invest.
Building on the record-breaking success of its previous editions, this year’s Festival is expected to witness an estimated tens of thousands of attendees from across the globe. The event goes beyond a simple conference, as it unites industry leaders and game-changers to explore the future of Web3 and showcase the latest Web3 solutions and progress.
Taking an area of over 14,000㎡at the iconic HKCEC, which is 1.5 times larger than previous ones, the conference creates an ideal networking and learning environment, with regular conference areas and exhibition spaces embracing professionals, investors, enthusiasts, and leading projects worldwide who will delve into the latest progress, solutions, trends, and policies in Web3 and crypto.
Early bird registration is closing soon! Save $400 by registering before Dec. 31: https://www.web3festival.org/hongkong2025/#/en
Press Release
WOM Protocol: Pioneering the Future of SocialFi with a Powerful Layer 1 Solution
WOM Protocol was early to the SocialFi space back in 2020 – when the path to revolutionizing marketing wasn’t easy. SocialFi faced hard times in recent years, with many “to-earn” models failing to match the user retention seen in Web2 social networks. But through relentless innovation, WOM has shown remarkable persistence. Thanks to its engaging daily reward mechanism, users didn’t just stick around – they grew. Now, with the numbers to prove its impact, WOM is making its boldest move yet: launching a powerful EVM Layer 1 blockchain infrastructure redefine authenticity, trust and community in a decentralized world.
And the Timing Couldn’t Be Better
Traditional ads are fading – and consumers are tuning out. People are tired of ads, and the numbers say it all. 70% of millennials and Gen Z have stopped watching TV ads, 65% skip YouTube ads, and 86% are blind to banners and pop-ups. Even influencers are losing credibility, with 43% of consumers finding their content fake. Traditional advertising isn’t just annoying; it’s ineffective. It’s time for a new approach that feels real, builds trust and actually connects with people.
The WOM Solution: Rewarding Authentic Advocacy
WOM Protocol leverages blockchain to reward genuine peer-to-peer recommendations, replacing intrusive ads with authentic user-generated content (UGC). The protocol’s ecosystem includes:
- Creators: Share authentic product recommendations and earn WOM Tokens .
- Authenticators: Verify content authenticity, creativity, and positivity .
- Platforms: Integrate the protocol and monetize through WOM rewards instead of ads .
- Brands: Access genuine, peer-validated recommendations to connect authentically with consumers .
This decentralized ecosystem ensures that everyone—from content creators to validators to platforms—has aligned incentives to maintain authenticity and quality.
The Power of Authentic Content in 2024
Recent statistics highlight the growing importance of authentic, user-generated content (UGC) in the marketing landscape:
- 60% of consumers trust UGC more than any other type of content when making purchasing decisions.
- 40% of shoppers say UGC is critical to their buying process.
- 93% of marketers report that UGC performs better than branded content.
- 90% of consumers are influenced by UGC when making a purchase.
These insights underscore the effectiveness of genuine peer-driven content in driving brand engagement and sales. In an age where consumers crave authenticity, WOM Protocol provides the infrastructure to capitalize on this behavior.
WOM Protocol’s Achievements
Since its launch, WOM Protocol has demonstrated consistent growth and sustainability:
- Over 281,000 Peer-Reviewed Videos
- Daily Transactions: The ecosystem handles between 50,000 to 200,000 daily transactions, including content creation, staking and reward distribution.
- Sustainable Rewards: WOM Protocol has distributed rewards daily over the past few years to a growing user base of creators, authenticators, and platforms who continuously contribute to the network.
- Powerful Tools: The WOM Campaign Manager allows advertisers to access authentic UGC and run targeted campaigns. The WOM Authenticator App enables users to validate content from the BULLZ app, ensuring no piece of content goes unreviewed. This validation process has led to an impressive +40% retention rate among users.
- BULLZ App Success: The BULLZ app, dedicated to web3 and crypto recommendations, has grown to over 158,000 users and generated more than 12 million views. The app also features a separate BULLZ campaign manager for web3 brands to request videos directly from the BULLZ creator community.
This sustained reward distribution and suite of innovative tools ensure that participants are consistently incentivized, reinforcing a thriving and collaborative ecosystem.
Why WOM Needs a Dedicated Layer 1 Blockchain
The success of WOM Protocol has shown the need for a scalable, efficient infrastructure to handle rising transaction volumes and to reduce fees for its growing user base. To achieve this, WOM has developed in 2024 its own EVM based Layer 1 infrastructure, capable of processing 10,000 transactions per second (TPS) with fees as low as $0.0001. This powerful EVM ensures fast and seamless interactions for creators, authenticators, platforms and advertisers. With a public testnet launching in Q1 2025 and a mainnet in Q2 2025, the WOM Chain will drive full decentralization, paving the way for community-driven governance and the transition to a DAO where users collectively shape the future. WOM Protocol is more than just a marketing tool – it’s the engine of a decentralized, authentic and user-driven economy.
Press Release
0xFútbol Announces Exclusive $FUTBOL Presale to Celebrate XDC’s Strategic Investment
For decades, fútbol’s ecosystem has upheld a status quo that leaves fans disconnected—without a voice, a stake, or a meaningful way to be part of the game they love. Despite fútbol’s global popularity, there has been no unified platform that truly empowers fans or brings them closer to the sport in transformative ways.
Founded by visionary builders from Uruguay and Argentina, 0xFútbol is changing the game. By leveraging blockchain technology, they are creating a digital hub for the world’s 4 billion fútbol fans—a place where they can connect, compete, and even own a piece of fútbol’s future. 0xFútbol transforms watchers into owners, redefining what it means to be a fútbol fan in the modern era.
From watchers to owners
The fútbol community is vast, yet fragmented. 0xFútbol’s mission is to bring it together by delivering engaging experiences that resonate with every fan. From games to tools, every product is a step toward building a thriving, interconnected community.
0xFútbol recently acquired MetaSoccer, the first fútbol manager game, and has been actively working to improve and expand its features. Now in its private beta phase, MetaSoccer has already captivated over 40,000 fans with its innovative approach to managing teams and competing using blockchain-based assets. Alongside MetaSoccer, 0xFútbol is developing additional products like Fútbol PM, a prediction market where fans can showcase their knowledge, and Wonderkid, a hyper-casual Telegram game designed for quick, competitive fun.
Every new fan strengthens the community. With each voice added, the collective power of fútbol fans grows, paving the way to shake up the status quo. Together, 0xFútbol isn’t just building products—it’s building a movement.
“Imagine millions of fútbol fans united in one ecosystem. The energy, the culture, the shared passion—this is the future 0xFútbol is building. It’s a future where fans actively shape the game they love, not just watch from the sidelines.” Says Agu Rodríguez, CEO.
$FUTBOL Presale with XDC Network
In a significant milestone, the XDC Network has joined 0xFútbol as a strategic investor, recognizing the platform’s potential to transform fútbol through blockchain. This partnership represents a major step forward in 0xFútbol’s journey to create a unified and interactive fútbol ecosystem.
As part of this collaboration, 0xFútbol will host an exclusive presale for the XDC community starting on December 16th. This presale offers early supporters a chance to acquire the $FUTBOL token, which powers the entire 0xFútbol ecosystem.
The $FUTBOL token is more than just a digital asset—it’s the backbone of the platform. It enables users to access key products like MetaSoccer and Fútbol PM, participate in governance, and unlock future opportunities as the ecosystem grows. With $FUTBOL, fans are empowered to move from spectatorship to ownership, shaping the future of fútbol while engaging with innovative products and experiences.
This collaboration with XDC highlights the growing recognition of 0xFútbol’s potential to revolutionize how fútbol fans interact with the sport. By combining blockchain innovation with fútbol culture, 0xFútbol is positioning itself as a leader in the Web3 fútbol space.
Join us now!
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