Client Profile
The client is a fast-growing FinTech startup leveraging blockchain technology for decentralized lending and payment solutions. With over $100M in total value locked (TVL) across smart contracts and a global user base, the client faced growing concerns around contract vulnerabilities, regulatory scrutiny, and third-party integration risks. Their rapid development cycle demanded a robust audit mechanism to protect assets and build user trust.
Challenges Faced
Key security concerns included:
- Undetected vulnerabilities in Solidity-based smart contracts
- Lack of formal verification or automated testing mechanisms
- Risks of reentrancy, overflows, and logic flaws within DeFi applications
- Limited internal resources for ongoing code review and threat modeling
Solution
COE Security implemented a tailored Smart Contract Audit Program, combining:
- Automated Vulnerability Scanning: Used industry-leading tools like MythX, Slither, and Oyente to uncover known issues
- Manual Code Review: Performed line-by-line inspection of smart contract logic for logic flaws and business logic errors
- Threat Modeling & Attack Simulation: Developed threat scenarios and tested for exploits like flash loan attacks, frontrunning, and DOS conditions
- Remediation Guidance & Retesting: Delivered detailed fix recommendations and re-audited updated code before deployment
Audit in Action: Securing the Blockchain Layer
- Detected reentrancy issues in core lending smart contract
- Prevented potential integer overflow on interest calculation module
- Flagged unsafe external call logic in withdrawal functions
- Ensured implementation of proper access control modifiers
- Validated correct use of SafeMath and OpenZeppelin contracts
Governance, Strategy & Readiness Alignment
- Introduced a Continuous Smart Contract Security Framework
- Helped establish a DevSecOps pipeline for secure smart contract deployment
- Educated developers through secure coding workshops tailored to Solidity
- Mapped smart contract risks to compliance standards (e.g., ISO 27001, SOC 2 for blockchain)
Decentralized App (DApp) Security Assurance
- Smart Contract Audits
- Solidity Code Review & Threat Modeling
- DApp Penetration Testing
- Blockchain Infrastructure Hardening
- Decentralized Identity (DID) Security
- DeFi Protocol Attack Simulation
- Secure DevOps for Web3
- Smart Contract Formal Verification
- Risk Reporting & Compliance Readiness
- Tokenomics & Governance Risk Assessment
Implementation Details
- Audited 15+ smart contracts totaling over 12,000 lines of code
- Integrated secure CI/CD for audit alerts during pull requests
- Delivered a custom Smart Contract Security Report with severity-wise issue breakdown
- Simulated real-world attack vectors using custom-built exploit scripts
- Provided audit badges and public audit reports to enhance investor transparency
Results Achieved
- Discovered and mitigated 18 high/critical vulnerabilities before mainnet launch
- Reduced post-deployment security incidents to zero in the first six months
- Boosted platform credibility, leading to a 30% increase in TVL
- Accelerated investor trust with verified audit reports and public badge
Client Testimonial
“COE Security’s audit gave us not just code validation, but confidence. Their expertise in smart contracts and real-world exploit simulation saved us from what could’ve been catastrophic losses.”