The need for Avalanche smart contracts audit

 

According to the REKT database, for the first 5 months of 2022, projects on the Avalanche chain have lost more than $75 million due to various exploits and exit scams. In most cases, hackers exploited vulnerabilities in Avax smart contracts. Projects relying on Avax have a substantial monetary and reputational incentive to ensure the security of their Avalanche smart contracts.

Avalanche is Ethereum-compatible proof of stake blockchain. 

Avalanche is an open programmable smart contracts platform built for decentralized apps. 

 

Total valued locked in Avalanche blockchain:

March 2021 – $200M

November 2021 – $13B

May 2022 – $5B

 

The number of projects on Avalanche Blockchain:
478

+50 projects monthly at peak popularity 

 

Why choose an audit by Hacken?

 

Hacken is one of the best Avalanche smart contract audit companies. With 5 years of expertise in Web 3.0 cybersecurity, we are well aware of all the risks caused by hackers. We are also aware of the pains faced by projects working with unqualified auditors. By contrast, Hacken is a top-tier Avalanche smart contract audit firm with a solid reputation, transparency, methodology based on the best industry practices, and community trust.

Hacken security experts audit different types of contracts for the Avalanche chain, including ERC20 token, staking, and farming. Our auditors use various methods, including architecture review, functional testing, computer-aided verification, and manual check, to deliver effective and timely smart contract code review and security analysis.

 

Hacken and Avalanche

 

Hacken has already conducted five Avalanche smart contracts audits: Pera Fiance, Inventuna Teknoloji A.S., MetagamZ, Cesta Finance, and Platypus Finance.

 

Clients in Finance:

 

Powered by Avalanche, Pera Finance is the first DEX Optimizer designed to boost on-chain trading volume via trader incentives.

Cesta Finance is the next generation DeFi Reserve Currency that combines DeFi 2.0 with yield farming & indexes.

Platypus Finance is a thoughtfully crafted AMN on Avalance that offers lower slippage, higher scalability, and a better user experience for stableswap. 

 

Clients in GameFi

 

Inventuna Teknoloji A.S. is a development team behind Heros Chained, a real-time fantasy action RPG game with a novel GameFi concept called Play and Earn.

MetagamZ is the first VR-enabled ecosystem that allows Game Publishers to generate revenues through GameFi.

 

Security Vulnerabilities of Avalanche Smart Contracts

 

Avalanche smart contracts audit targets a wide range of security vulnerabilities that Hacken auditors identify using code reviews and functional reviews.

Code reviews identify the issues of reentrancy; ownership takeover; timestamp dependence; gas limit and loops; transaction-ordering dependence; violations of the style guide, EIP standards, and ERC20API; unchecked external call and math; unsafe type inference; implicit visibility level, and deployment and repository consistency.

Functional reviews reveal security vulnerabilities in business logic; functionality; access control and authorization; manipulation of escrow, token supply, data consistency, and user balances; assets integrity; and kill-switch mechanism.

Our audit experience shows that the most common high and critical vulnerabilities are missed ownership checks, external programs validation failure, and missing signer checks. 

 

What do you get from Hacken’s Avalanche Smart Contract Audit?

 

As Avalanche smart contract auditing firm, Hacken offers your company important benefits of ensuring security excellence, gaining community trust, and building a more robust marketing impact.

 

Security Excellence

 

  • Code assessment based on a publicly available methodology that follows industry-leading standards
  • Categorization of identified vulnerabilities according to their severity
  • Recommendation on solving security vulnerabilities from our best experts

 

Avalanche smart contract auditing services assess your code based on four measurements: documentation quality, code quality, architecture quality, and security score.  The Hacken team also produces a final score for the assessment audit that gives you a good understanding of the overall quality of your Avalanche smart contract code.

Our auditors provide a client with a detailed report on security vulnerabilities of four different severity levels: low, medium, high, and critical. We pay extra attention to high and critical vulnerabilities because they may lead to the highest risks of exploits, asset losses, and data manipulations. For each security vulnerability, we provide a recommendation on how to solve it.

 

Community Trust

 

  • You will receive our Label: “Audited by Hacken.” This will be a public indication that your project is secured by a top-tier Web 3.0 cybersecurity auditor
  • The copy of the Hacken audit report will appear on your project’s page on CoinGecko and CoinMarketCap, which will add credibility to your project.

 

Promotion

 

  • Upon your request, our B2B marketing team will prepare a case study about improving the cybersecurity of your project, which will be published on hacken.io.
  • With more than 100K active followers, we will make a post about your project on our social media, including Twitter, Discord, and Telegram.

 

Why Hacken?

 

Security Vendor trusted by leading Web 3.0 players:

 

Avalanche

Polkastarter

FTX

IoTeX

OKX

Bunicorn

 

>800 clients in total

6% share in the Web 3.0 cybersecurity market

 

By 2024, Hacken is going to win a 20% share in the Web 3.0 cybersecurity market.

 

Hacken is a member of top industry organizations:

 

The Enterprise Ethereum Alliance

Linux Foundation

Solana Foundation

 

The voice of the Hacken team makes a difference. 

 

Hacken is the official partner of:

 

Scaleswap

Fractal Protocol

CoinMarketCap

InsurAce.io

Ferrum Network

CoinGecko

 

Hacken: certified ethical hackers on your side

 

Hacken in media

 

Leading media write about Hacken and our activities including our role in defending Ukraine in cyberspace. 

 

The Wall Street Journal

CoinTelegraph

Forbes

CoinDesk

Finance.Yahoo

Bloomberg

Washington Post

The Times

Cybernews

 

Avalanche smart contract audit by Hacken: methodology

 

  1. Preparation for an audit;
  2. Code review and analysis;
  3. Testing;
  4. Report compilation;
  5. Bug fixing by a client;
  6. Remediation check.

 

The duration of a Solana smart contract audit may range between a few days for simple projects and a few weeks for complex code. 

Avalanche smart contract audit price (average): $10K – $30K

 

Cooperation process roadmap

 

  1. You reach our team
  2. Hacken provides you with documentation
  3. We agree on the scope and timeline of the Avalanche smart contract audit
  4. You pay for Avalanche smart contract auditing services
  5. Our engineering team carries the audit and provides a client with the report
  6. You fix bugs and become CERtified by Hacken

FAQ

  • What is Avalanche smart contract audit cost?

    The price of Hacken’s smart contract audit typically ranges between $10K and $30K for small and medium-sized projects. Please note that the price may vary. The final Avalanche smart contract audit price may differ depending on the specifics of your code. Request a quote for a detailed breakdown of Avalanche smart contract audit price for your project.
  • How much time does Avalanche smart contract audit take?

    Avalanche smart contract security audit typically takes from five days to three weeks. Request a quote and our security specialists will give you a detailed timeline for your Avalanche smart contract code audit.
  • Where can I see Hacken’s methodology?

    As a confirmation of Hacken’s transparency, we have made our Smart Contract Code Review and Security Analysis Methodology publicly available.
  • Will my report become public?

    Hacken does not publicly disclose any information about its clients, including Avalance smart contract audit report, without the informed consent of our clients.

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