Smart Contract Audit Essential for Avoiding Multi-Billion Dollar Losses

The importance of smart contract audits extends well beyond mere compliance; they play a crucial role in averting over $2 billion in quarterly losses. The auditing process combines manual inspections with automated techniques like fuzz testing to identify logic flaws, recognizing that 80% of bugs originate from misaligned business logic. Although these audits can cost between $5,000 and $60,000, they have successfully prevented significant exploits such as the $50 million DAO hack. However, it's vital to understand that audits do not provide absolute guarantees, as evidenced by multisig failures that resulted in $1.6 billion in losses in the first quarter of 2025.