QuillAudits Uncovers 32 Critical Issues Across Five Major Projects

In a significant move for the Web3 landscape, QuillAudits has successfully identified and mitigated 32 critical security issues across five major blockchain projects. This proactive approach not only enhances the security of these protocols but also reinforces the importance of rigorous audits in the rapidly evolving decentralized ecosystem.

Key Takeaways

• QuillAudits addressed 32 critical issues across five projects.
• The audits covered protocols like Torque, BTCfi, LicenseFlow, OMA3, and ERUSD.
• Enhanced security measures are crucial for user trust and innovation in Web3.

Overview of the Audits

QuillAudits, a leading smart contract security firm, has established itself as a trusted partner in the blockchain space, conducting over 1,000 audits across more than 20 blockchain ecosystems. Their recent audits focused on five projects, each with unique challenges and vulnerabilities.

Torque

Torque aims to optimize loan management by facilitating the refinancing of crypto assets between Aave and Radiant lending pools.

Critical Issues Identified:

• Inadequate handling of excess funds in repay functions.
• Emergency withdraw function may fail for certain tokens.

Mitigated Issues: 6 issues resolved, enhancing the protocol's efficiency.

BTCfi

Formerly known as Runesfi, BTCfi is developing a suite of products for the Runes Protocol, including a decentralized exchange (DEX) and trading bot.

Critical Issues Identified:

• Outdated software and plugins.
• Cpanel and webmail exposed.

Mitigated Issues: 5 issues resolved, strengthening the platform's security.

LicenseFlow

LicenseFlow provides a secure product licensing platform, but its financial functions posed potential risks.

Critical Issues Identified:

• Use of payable.transfer might cause silent failures.
• Potential loss of funds in transfer functions.

Mitigated Issues: 2 critical issues resolved, ensuring secure transactions.

OMA3

OMA3 integrates token locking and staking contracts with access control mechanisms, allowing users to stake and un-stake tokens securely.

Critical Issues Identified:

• Centralization risk due to unique address control.

Mitigated Issues: 5 issues resolved, promoting a more decentralized protocol.

ERUSD

ERUSD introduces a stablecoin backed by Ethereum Classic (ETC), maintaining a soft peg to the US Dollar.

Critical Issues Identified:

• Users cannot buy small amounts of ERUSD due to overflow.
• Initialization could be performed by anyone.

Mitigated Issues: 14 issues resolved, fortifying the stablecoin's reliability.

Conclusion

QuillAudits continues to set the standard for smart contract security in the blockchain industry. By identifying and mitigating critical vulnerabilities, they not only protect individual projects but also contribute to the overall integrity and trustworthiness of the Web3 ecosystem. As the demand for secure blockchain solutions grows, the role of thorough audits becomes increasingly vital in ensuring user confidence and fostering innovation.

Sources

• QuillAudits Uncovered & Mitigated 32 Critical Issues Across 5 Projects - Crypto News Flash, Crypto News Flash.