Crypto security experts rake in $430,000 salaries amid hacking spike

Demand for blockchain security experts comes amid rising crypto hacks in 2022.
New
The rise of crypto hacks in 2022 has skyrocketed the demand for blockchain security experts, with some auditors earning up to $430,000 per year.

Speaking to Cointelegraph, the founder of recruitment firm CryptoRecruit, Neil Dundon, said that while security auditing services have long been in demand, the rise of decentralized finance (DeFi) protocols has opened up the ability for auditors to review potentially vulnerable smart contracts: < /p>
"There has always been a demand for security auditors [...] But ever since DeFi apps have been around, there's been a pretty big increase in demand for security audits all over the space because a small vulnerability in the protocol can potentially result in the loss of hundreds of millions of dollars.”

A Chainalysis report earlier this month revealed that hackers have extracted over $2 billion from cross-chain bridge protocols alone this year.

In an Aug. 22 Bloomberg report, CEO of decentralized lending service Morpho Labs, Paul Frambot, said crypto security audits have gone from a "nice to have" business expense to a "must have" one. .

"Security is, in my opinion, not taken seriously enough in DeFi," he said.

The increase in demand for crypto security auditors has led to a plethora of "for hire" ads across the industry.

According to job postings on Cryptocurrency Jobs, blockchain audit companies are primarily looking for experienced programmers with an understanding of blockchain technology, cybersecurity, and cryptography.

While most security audit salaries range between $100,000 and $250,000, some companies are willing to pay upwards of $430,000 per year, according to job site Web3.career.< /p>
Crypto recruitment firm Plexus Resource Solutions Zeth Couceiro made a similar comment to Bloomberg, noting that in some cases, blockchain security auditors have raked in as much as $400,000 a year.

Couceiro added that these listeners tend to...

Crypto Aug 23, 2022 0 91 Add to Reading List

Crypto security experts rake in $430,000 salaries amid hacking spike

Demand for blockchain security experts comes amid rising crypto hacks in 2022.

Crypto security experts raking in $430K salaries amid spike in hacks

New

The rise of crypto hacks in 2022 has skyrocketed the demand for blockchain security experts, with some auditors earning up to $430,000 per year.

Speaking to Cointelegraph, the founder of recruitment firm CryptoRecruit, Neil Dundon, said that while security auditing services have long been in demand, the rise of decentralized finance (DeFi) protocols has opened up the ability for auditors to review potentially vulnerable smart contracts: < /p>

"There has always been a demand for security auditors [...] But ever since DeFi apps have been around, there's been a pretty big increase in demand for security audits all over the space because a small vulnerability in the protocol can potentially result in the loss of hundreds of millions of dollars.”

A Chainalysis report earlier this month revealed that hackers have extracted over $2 billion from cross-chain bridge protocols alone this year.

In an Aug. 22 Bloomberg report, CEO of decentralized lending service Morpho Labs, Paul Frambot, said crypto security audits have gone from a "nice to have" business expense to a "must have" one. .

"Security is, in my opinion, not taken seriously enough in DeFi," he said.

The increase in demand for crypto security auditors has led to a plethora of "for hire" ads across the industry.

According to job postings on Cryptocurrency Jobs, blockchain audit companies are primarily looking for experienced programmers with an understanding of blockchain technology, cybersecurity, and cryptography.

While most security audit salaries range between $100,000 and $250,000, some companies are willing to pay upwards of $430,000 per year, according to job site Web3.career.< /p>

Crypto recruitment firm Plexus Resource Solutions Zeth Couceiro made a similar comment to Bloomberg, noting that in some cases, blockchain security auditors have raked in as much as $400,000 a year.

Couceiro added that these listeners tend to...