Crypto security experts raking $430K salaries amid 2022’s hacking spike

CoinTelegraph August 23, 2022
Updated 2022/08/23 at 7:06 AM
3 Min Read

The rise of crypto hacks over 2022 has skyrocketed demand for blockchain security experts, with some auditors making upwards of $430,000 per year.

Speaking with Cointelegraph, blockchain recruitment firm CryptoRecruit founder Neil Dundon said that while security audit services have long been in demand, the rise of decentralized-finance (DeFi) protocols has opened up opportunities for auditors to review potentially vulnerable smart contracts:

“There’s always been a demand for security auditors […] But since DeFi apps have been out there, there has been quite a big increase in demand for security audits across the space because one small vulnerability in the protocol can potentially lead to the loss of hundreds of millions of dollars.”

A report from Chainalysis earlier this month revealed that hackers extracted more than $2 billion[1] from cross-chain bridge protocols alone this year.

In a Bloomberg report on Aug. 22, CEO of decentralized lending service Morpho Labs Paul Frambot said that crypto security audits have moved from a “nice to have” business expense to a “must have” one.

“Security is, in my opinion, not taken sufficiently seriously in DeFi,” he said.

The rise in demand for crypto security auditors has seen a plethora of “for hire” ads across the industry.

According to job advertisements posted[2] on Cryptocurrency Jobs, blockchain audit companies mostly look for experienced programmers with an understanding of blockchain technology, cybersecurity, and cryptography.

While most security audit salaries fall within the $100,000 – $250,000 range, some companies are willing to pay[3] upwards of $430,000 per year, according to’s job board.

Crypto recruitment firm Plexus Resource Solutions Zeth Couceiro made a similar comment to Bloomberg, noting that in some cases, blockchain security auditors have been raking up to $400,000 annually.

Couceiro added that these auditors tend to make about 20% more than Solidity-focused developers, which is the most popular programming language used to deploy smart contracts on Ethereum and other Ethereum Virtual Machine (EVM) compatible blockchains.

Related: What is a smart contract security audit? A beginner’s guide[4]

Among the top vulnerabilities[5] that security auditors look for in smart contracts include timestamp dependency, reentrancy attacks, random number vulnerability, and spelling mistakes.

The Bloomberg report noted that venture capital firms have already poured $257 million into crypto security audit companies this year, which is up 38.9% from all of 2021, according to CB insights.


  1. ^ hackers extracted more than $2 billion (
  2. ^ posted (
  3. ^ pay (
  4. ^ What is a smart contract security audit? A beginner’s guide (
  5. ^ Among the top vulnerabilities (


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