Today, I'd like to share insights from arecent audit I conducted for a stablecoin protocol, which is still underpartial development.
The protocol, which shall remain redacteduntil the final audit report is publicized, had already undergone what's knownas a "pre-audit." Despite this preliminary step, the subsequent auditrounds revealed a significant number of issues.
In the first audit round, I uncovered 27high-severity, 21 medium-severity, 48 low-severity, and 41 informationalissues.
Given the extensive number of findings, asecond audit round was necessitated. This round had to be conducted within a constrainedtimeframe of just 14 days. Despite the time limitation, which prevented fullcoverage, the second audit identified 16 high, 6 medium and 16 low issues.
One of the key takeaways from this audit isthe presence of both low-hanging fruit and more advanced exploits.
While many issues are low-hanging fruit,there are also quite a few sophisticated exploits in the report which willprovide some great alpha.
You can find the report here:
https://github.com/bailsec/BailSec/blob/main/Bailsec%20-%20Redacted%20-%20Audit.pdf
If you are a founder or developer of asimilar protocol, feel free to send me a DM for security services.
