Smart Contract Auditing: What "Audited" Doesn't Mean — and How to Read the Report
A smart contract audit is a scoped, point-in-time review of code at a specific commit — evidence that experts looked, not proof that the code is safe. Nomad ($190M, 2022), Euler ($197M, 2023), Cetus ($223M, 2025) and Balancer V2 ($128M, 2025) were all audited before being drained (DefiLlama, as of 2026-07-16), so the useful question is never "was it audited?" but "what was in scope, at which commit, and which findings were actually fixed and re-reviewed?"
