Getting stripped of all your assets, crypto or fiat, in Web3 is the worst thing for a trader. It doesn’t matter if it’s novice, intermediate or advanced. History reminds us that the crypto community has never been spared from all sorts of unfortunate mishaps. Immunefi, Trails of Bits and the Solana Foundation, however, want to put an end to this and decide to launch “ Rekt Test “.
Rekt Test, now on the Bug Bounty platform
“Getting REKT” in the cutthroat world of trading simply means get stripped of your crypto holdings after a trading error or a sudden exchange crash. The word may sound foreign to neophytes, but note that it is a borrowing from a very used expression in the world of gaming.
In a recent article, The Block revealed the creation of the “Rekt test”. The latter is intended for Web3 players looking for a effective tool to assess the quality of a project. Thus armed, they can decide to embark on any crypto adventure after a data confrontation with basic Web 3.0 security standards.
” The Rekt Test is a short questionnaire designed primarily for web3 projects to ensure they are working with minimal security performance. But the questionnaire can also be used by anyone, especially investors and end users, who are interested in evaluating projects for themselves. “, can we read on the Medium page from Immunfi.
The Rekt Test therefore invites promoters of Web3 projects to respond to a series of questions. At the end of this brief exercise, it becomes possible to qualify the performance of the offer in terms of security.
Thus collected, this information will acquire importance in the decision-making process of users and investors. Thanks to the Rekt test, they will easily evaluate any project before committing to it.
Here are the 7 major points making up the Rekt test:
- system and role documentation;
- key management and access control;
- incident response and crisis management;
- team and staff safety;
- code and test security;
- external audits, vulnerability management and attack mitigation;
- and user protection.
What about the authors of this test?
The idea of developing the questionnaire called “Rekt Test” came from a working group of web3 security experts who met in San Francisco earlier this year. Immunefi is part of this collective. Knowing that it aims to ” create a minimum security foundation for the entire web3 ecosystem “.
” The state of web3 security is still largely immature and shoddy […]. The Rekt Test is a critical standard for ensuring that web3 projects operate at a minimum level of security performance. We see devastating and unnecessary losses caused by private key theft and social engineering which can be mitigated by an established and proactive approach to security requirements “says Mitchell Amadour, founder and CEO of Immunefi.
To stop the bleeding in the world of Web3, exchange collapse and repetitive hacks, Euler Finance, Fireblocks, Ribbit Capital, Trail of Bits and the Solana Foundation have supported Immunefi’s efforts in developing the Rekt test.
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