Johnson would have liked to havehired Ronghui Gu.
Gu is the co-owner of CertiK, the largest smart contract auditor in the world. Gu is a computer science professor at Columbia University and he leads a team of more than 250 that tries to make sure the code is free of bugs.
CertiK won't stop you from losing your money when a coin collapses. The exchange won't be able to use your funds in a way that's inappropriate. It could help prevent a software issue from happening. The Bored Ape Yacht Club is one of the company's biggest clients. Gu sometimes gets clients who have lost hundreds of millions of dollars, hoping he can prevent it from happening again.
Gu jokes that this is a real wild world.
Traditional software is not as easy to use as cryptocurrencies. Silicon Valley engineers try to make their programs as bug-free as possible before they ship, but if a problem is later discovered, the code can be updated.
It is not possible with a lot of projects. Smart contracts are computer code that governs transactions. Once the money arrives in the artist's wallet, a smart contract can be written to send the NFT token to you. You can't update smart-contract code once it's live on a block. It's too late if you discover a bug, because you can't change anything that's been written to them. Black-hat hackers can look for mistakes to exploit because the code is public.
The number of hacks is large and profitable. The Wormhole network had more than $320 million worth of coins stolen. The Ronin Network lost hundreds of millions of dollars in digital currency.
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