Immunefi, Polygon Labs, Solana Foundation, and other companies are introducing The Rekt Test, a baseline security standard for web3 projects. The test evaluates seven essential security requirements, such as management of keys, response to incidents, security of code, and external audits. This helps users evaluate the quality of a project before engaging with it.
Immunefi, a bug bounty security platform, is partnering with cybersecurity firm Trails of Bits to launch The Rekt Test. This is a baseline security standard for web3 projects. The test consists of a set of questions that help ensure that web3 projects meet a minimum level of security performance. This makes it simpler for users and investors to evaluate a project’s quality before getting involved with it, according to a press statement.
Web3 Security Can Still Be Improved
The Rekt Test includes seven different security evaluations: documentation of systems and roles, management of keys and access control, response to incidents and management of crises, security of team members and personnel, security, and testing of code, management of external audits and vulnerabilities, and mitigation of attacks and protection of users.
The Test is a collaborative effort between Immunefi, Polygon Labs, Solana Foundation, Fireblocks, DeFi Education Fund, and Ribbit Capital. A group of web3 security specialists, including Dan Guido, co-founder and CEO of Trail of Bits; Immunefi founder and CEO Mitchell Amador; Lee Mount, the head of EulerSwap at Euler Finance; Shahar Madar, the head of security products at Fireblocks; and representatives from Ribbit Capital.
This Test is an important standard for ensuring that web3 projects meet a minimum level of security performance. Devastating and preventable losses caused by the theft of private keys and social engineering can be reduced by having a well-established and proactive approach to security requirements.