How to choose the safest bridge? What criteria should I look for to know the bridge won’t get hacked tomorrow

Hello here,

With FTX going down I’m now worried about everything. Not only do centralised servers collapse but for me it looks like DeFi is not safe enough either. From time to time the bridge after bridge is getting hacked. Its like they are becoming more of a liability than an asset. I was thinking of staying away from them but there are no alternatives and I still need to use bridges.

So I suppose maybe there are some criteria for such things to check if the bridge is secure? Like in Polkadot there are parachains that protect against such hacks and make the blockchain safe. Can I rely on this criteria to use PolkaBridge for instance?? Gravity Bridge the Cosmos SDK-based chain is also one of consideration. Or Catchains (BFT) and anonymous relays in Everscale that also ensures the security of the network – can these solutions for example promise me to use Octus Bridge securely?

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10 thoughts on “How to choose the safest bridge? What criteria should I look for to know the bridge won’t get hacked tomorrow”

  1. Stick to DOT there haven’t been any hacks on their network. As for Everscale there haven’t been any hacks as well, at least I’m not aware of such so your bridge can be safe, but the network is young so who knows what can happen. Anything can happen in crypto now.

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  2. Well. Polygon’s bridge has a bug bounty program. I think this goes a huge way in terms of security. Definitely a criteria I would look for.

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  3. I know EYWA is launching a new cross-chain defi protocol that will mitigate the need for using bridges, since it will enable cross-chain transactions in one click. Mainnet is going to be launched this week already, so we will be able to test it once live.

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  4. You can avoid bridge exposure by using native coins to the blockchain instead of bridged tokens.

    Let me use one example by using the Avalanche blockchain.

    There are 2 versions of USDC on Avalanche. USDC native and USDC.e which is a wrapped version of ERC-20 USDC that has been bridged across from Ethereum to avalanche.
    Now obviously only the wrapped ERC-20 tokens are exposed to the risk of the funds locked at the Avalanche bridge being hacked.
    On Avalanche then they have made it very easy to spot – any token that has .e after it has been bridged over from Ethereum.

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