A case of a small company developing solutions for the Web3 sphere, which was preparing to launch a token and exchange smart contract on international exchanges in the Ethereum ecosystem.
When working with financial assets on the blockchain, security is the foundation of the project, since a single code vulnerability can lead to the complete loss of funds. Not only the company but also its users are placed in the zone of financial risk.
In this project, Datami applied a White-box strategy to conduct a smart contract audit, which included dynamic on-chain analysis, as well as static and manual code review for vulnerability patterns.
Testing was carried out in Remix and Ropsten testnet environments. To detect errors and vulnerabilities in the code, tools such as MythX, Manticore, Slither, SolHint, Cloc, and Oyente were used.
Work on auditing the token and exchange smart contract required maximum speed and coordination due to the limited time for preparation before entering the exchange. After preparing the environment, the team conducted transaction simulation on a test blockchain, static analysis, and manual line-by-line review. In conclusion, we prepared a report and recommendations.
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During the smart contract review, we identified 5 vulnerabilities (2 medium and 3 informational), including:
No critical issues were found.
In the course of the project, a decision was made to optimize and modernize parts of the code to meet current requirements. The client implemented our proposed changes, which ensured protection against 99% of known attacks and allowed the system to be prepared for certification and launch.
As a result, the client received:
All tasks were completed on time and in full.
The client sought to ensure the reliability and compliance of their smart contract with modern security standards, since any error in the source code could lead to the loss of user assets and even the complete collapse of the system.
Thanks to Datami’s comprehensive audit, the client improved the code in advance, gained confidence in the security of their solution, and achieved readiness for a safe launch into Web3.
This case is a clear confirmation of the necessity of security verification before launch, as it is impossible to fix vulnerabilities in a smart contract after release.
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