What are the main risks of using Aptos?
Aptos risks include smart-contract bugs, phishing, outages, validator centralization and staking lockups. The chain halted block production in 2022.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
- Aptos comes from former Meta engineers who worked on Diem.
- In the SEC's 2023 Binance and Coinbase suits, APT was not named.
- Aptos competes with Ethereum Virtual Machine chains.
Aptos is a layer-1 blockchain for smart contracts and apps. Its APT token pays network fees, and people use it for DeFi, NFTs, gaming and payments.
What are the main risks of using Aptos?
A bug in an app can let an attacker drain funds from its contract. Move, the language Aptos uses, blocks some bug patterns but not every flaw. In October 2022, the network stopped producing blocks for about five hours. A limited validator set confirms transactions, so a small group can affect the chain.
- Fake airdrops promise free APT and ask you to connect a wallet.
- Phishing sites copy real Aptos apps and collect your seed phrase.
- Wallet drainers ask you to approve a transaction that sends tokens to a malicious contract.
How does Aptos work and who made it?
Aptos launched its mainnet in October 2022. Mo Shaikh and Avery Ching, former Meta engineers, created it after working on Diem. The chain runs on Move, the language built for Diem. People use Aptos for DeFi, NFTs, gaming and payments. It competes with Ethereum Virtual Machine chains. APT holders can stake tokens to help secure the network. Staked APT usually carries a lockup, and Aptos has not enabled slashing, so validator misbehavior mainly affects rewards.
What legal history does Aptos have?
US securities law does not treat every token the same way. The SEC's 2023 lawsuits against Binance and Coinbase named several tokens the agency called securities. APT was not among the tokens named, which leaves its status unsettled.
Frequently asked questions
Not automatically. Each app carries its own risk, so check what a transaction will do before you approve it.
Tokens in a wallet you control stay under your keys unless you signed a transaction that moved them. Approvals can let a contract move tokens later, so revoke ones you no longer need.
Transactions stop confirming until validators restart block production. Your tokens stay on the chain.
US law does not decide by token name. Regulators look at how a token is sold and what buyers expect.
