Securing Trust: Smart Contract Audits for a Blockchain-Powered FinTech Platform

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.”