Most DEXs are unsafe, alleges new report

Only two decentralized exchanges on the list received high cybersecurity scores.

14 out of 25 decentralized exchanges, or DEXs, scored poorly in terms of cybersecurity according to a recent report.

CER's criteria included several factors such as whether a DEX underwent security audit, availability of bug bounties, and proper SSL/TLS certificates.

CER deemed any score below 6 as "Low" and thus "Not safe".

Only two of the DEXs received a "High" score - Uniswap and Syntetyx.

"It is important to note that 6 exchanges failed to pass a security audit or did not publicly announce that they have undergone an audit. It should be noted that an unaudited exchange cannot be considered safe."

Some of the 25 exchanges used individual researchers rather than companies - a practice that the report's authors strongly discouraged.

"Despite the fact that there haven't been any significant hacks on decentralized exchanges in comparison to centralized platforms, DEX users are actually more susceptible to fraudulent attacks".