Hacken is performing a smart contract audit for ACryptoS, an Automated Yield Farming protocol and a Stablecoin DEX on the Binance Smart Chain.
The rapid development of innovative technologies and breakthrough projects is accompanied by the intensification of cybercrimes committed by hackers. For example, in 2020, a boom in the popularity of DeFi projects among investors made this segment of the market attractive for hackers and the financial loses experienced by DeFi platforms as the result of cyberattacks amounted to 120 million USD. Cyberattacks are becoming less identifiable for companies while their financial and reputational implications for market players may be colossal.
ACryptoS realizes the scope of risks related to cybercrimes. The project does not neglect the importance of security audits with regard to recent cybercrimes against well-known projects such as Lendf.me, bZx, and Synthetix. The smart contract audit is aimed at identifying any vulnerabilities of the code to prevent potential damage to investors such as the loss of crypto assets that may result from cyberattacks. The process can identify even minor bugs that may potentially lead to irreversible outcomes. Smart contract audit performed by Hacken provides recommendations to projects on how to fix all identified issues. Hacken team will keep in touch with ACryptoS specialists to ensure a smooth addressing of the vulnerabilities. All work performed will be provided in the report.
More About ACryptoS
A yield farming platform on Binance Smart Chain. The 2 main products offered by ACryptoS are the first automated yield farming vaults for the Venus platform and a decentralized stablecoin exchange (DEX) StableSwap. The project’s vaults facilitate the harvesting and reinvestment processes through automated yield strategies. ACryptoS StableSwap provides for low slippage and fees for stablecoin swaps.
ACryptoS prioritizes security and, to this end, cooperates with a number of entities including Hacken to protect users’ assets from the risk of being stolen. ACryptoS has a successful experience of cooperating with Hacken related to auditing a new farm contract and the project is going to continue working with our specialists on the rest of the protocol to ensure the ultimate protection of users from external threats.