Protection with every transaction.
Security in decentralised finance is paramount. At Magpie, we prioritise safeguarding our protocols to protect our users and their assets.
Comprehensive Coverage: Your assets safely protected.
We have partnered with Web3Shield to enable their insurance services for Magpie for your peace of mind.
One-Click Insurance
Your claim is directly procesed at the time of bridging, no KYCs or Sign Ups.
Atomic Coverage
Each bridging transaction can be insured individually for your peace of mind.
Multi-chain Support
Ensuring your transactions are insured both in Layer1 or Layer2 chain.
Smart contracts, under continuous scrutiny for your safety.
We have industry experts conduct a line-by-line review of our code, plus making sure new audits are performed each time we upgrade our smart contract.
AUDITING PARTNEr
Real-time monitoring tools for good measure.
Fraudulent transaction blocking
Proactive risk management
Ensuring Safety After Magpie Exploit
On April 23rd, 2024, a security breach exploited our MagpieRouterV2, resulting in $129k stolen from 221 wallets. Magpie responded swiftly, ensuring the safe return of all funds. Here's what we learned to prevent such incidents from occurring again.
$129k stolen, $129k refunded
Every users fully receive their compensation in the two weeks following the incident.
Always vigilant
Besides pausing our smart contract, we halted trading for a week to ensure we are truly secure before going live again.
Stronger together
We work with outside partners to stress-test our codes to ensure no biases.
Experience secure DeFi trading today.
