<ul><li>Mobius Meltdown highlights the risks of complacency in smart contract development within Web3.</li><li>A copy-paste error in an unaudited smart contract allowed the minting of 9 quadrillion tokens, leading to a loss of $2 million in under 72 hours.</li><li>The incident raises concerns about the lack of accountability, circuit breakers, and fallback logic in financial software developed in the Web3 ecosystem.</li><li>Smart contract design in Web3 needs to mature by implementing formal testing, audits, upgrade paths, and kill switches to prevent future incidents.</li></ul>

9 Quadrillion Reasons Web3 Still Isn’t Ready

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