Prepared by:
HALBORN
Last Updated Unknown date
Date of Engagement: February 2nd, 2024 - March 15th, 2024
100% of all REPORTED Findings have been addressed
All findings
22
Critical
2
High
2
Medium
3
Low
8
Informational
7
The Elys Network Team engaged Halborn to conduct a security assessment on their cosmos appchain modules, beginning on 02/02/2024 and ending on 03/15/2024. The security assessment was scoped to the sections of code that pertain to the modules of app chain. Commit hashes and further details can be found in the Scope section of this report.
Halborn was provided 12 weeks for the engagement and assigned 1 full-time security engineer to review the security of the modules in scope. The engineer is a blockchain and smart contract security expert with advanced penetration testing and smart contract hacking skills, and deep knowledge of multiple blockchain protocols.
The purpose of the assessment is to:
- Ensure that the AppChain Modules operate as intended.
- Identify potential security issues with the custom modules used in the Elys Chain.
In summary, Halborn identified some security issues that were mostly addressed by the Elys Network team.
Halborn performed a combination of manual and automated security testing to balance efficiency, timeliness, practicality, and accuracy in regard to the scope of the custom modules. While manual testing is recommended to uncover flaws in logic, process, and implementation; automated testing techniques help enhance coverage of structures and can quickly identify items that do not follow security best practices. The following phases and associated tools were used throughout the term of the assessment:
- Research into architecture and purpose.
- Static Analysis of security for scoped repository, and imported functions. (e.g., staticcheck, gosec, unconvert, codeql, ineffassign and semgrep)
- Manual Assessment for discovering security vulnerabilities on the codebase.
- Ensuring the correctness of the codebase.
- Dynamic Analysis of files and modules related to the Elys Network Modules.
External libraries and financial-related attacks.
New features/implementations after/with the remediation commit IDs
Changes that occur outside of the scope of PRs.
| EXPLOITABILITY METRIC () | METRIC VALUE | NUMERICAL VALUE |
|---|---|---|
| Attack Origin (AO) | Arbitrary (AO:A) Specific (AO:S) | 1 0.2 |
| Attack Cost (AC) | Low (AC:L) Medium (AC:M) High (AC:H) | 1 0.67 0.33 |
| Attack Complexity (AX) | Low (AX:L) Medium (AX:M) High (AX:H) | 1 0.67 0.33 |
| IMPACT METRIC () | METRIC VALUE | NUMERICAL VALUE |
|---|---|---|
| Confidentiality (C) | None (C:N) Low (C:L) Medium (C:M) High (C:H) Critical (C:C) | 0 0.25 0.5 0.75 1 |
| Integrity (I) | None (I:N) Low (I:L) Medium (I:M) High (I:H) Critical (I:C) | 0 0.25 0.5 0.75 1 |
| Availability (A) | None (A:N) Low (A:L) Medium (A:M) High (A:H) Critical (A:C) | 0 0.25 0.5 0.75 1 |
| Deposit (D) | None (D:N) Low (D:L) Medium (D:M) High (D:H) Critical (D:C) | 0 0.25 0.5 0.75 1 |
| Yield (Y) | None (Y:N) Low (Y:L) Medium (Y:M) High (Y:H) Critical (Y:C) | 0 0.25 0.5 0.75 1 |
| SEVERITY COEFFICIENT () | COEFFICIENT VALUE | NUMERICAL VALUE |
|---|---|---|
| Reversibility () | None (R:N) Partial (R:P) Full (R:F) | 1 0.5 0.25 |
| Scope () | Changed (S:C) Unchanged (S:U) | 1.25 1 |
| Severity | Score Value Range |
|---|---|
| Critical | 9 - 10 |
| High | 7 - 8.9 |
| Medium | 4.5 - 6.9 |
| Low | 2 - 4.4 |
| Informational | 0 - 1.9 |
Critical
2
High
2
Medium
3
Low
8
Informational
7
| Security analysis | Risk level | Remediation Date |
|---|---|---|
| Lack of Access Control in RequestBandPrice Function | Critical | Solved - 03/11/2024 |
| Incorrect Calculation of Minimum Collateral Due to Ignored Decimal Precision | Critical | Solved - 03/11/2024 |
| Absence of Creation Fee in CreatePool Method Leading to Spamming Attacks | High | Solved - 04/04/2024 |
| Inadequate Handling Of Large Webassembly (Wasm) Files On The System Leads To Dos | High | Solved - 03/11/2024 |
| Absence of IBC Channel Verification in UpdateEntry Function | Medium | Solved - 03/11/2024 |
| Lack of Broker Address Validation in MsgUpdateBrokerAddress's ValidateBasic Function | Medium | Solved - 03/11/2024 |
| Implement TWAP for More Accurate Price Retrieval in Keeper Methods | Medium | Risk Accepted |
| JoinPoolNoSwap Exhibits Discrepancy Between Expected and Actual Calculated Share Outputs | Low | Risk Accepted |
| Bulk Coin Sends | Low | Risk Accepted |
| Lack of spec on the modules | Low | Risk Accepted |
| Missing Asset Whitelisting/Denom Check in FeedPrice Method | Low | Risk Accepted |
| Insufficient Validation in MsgCreateEntry, MsgUpdateEntry, and MsgDeleteEntry | Low | Risk Accepted |
| Vulnerabilities in Cosmos SDK v0.47.4 Affecting Elys Network | Low | Risk Accepted |
| Utilize Block Height in Price Feeding | Low | Solved - 04/07/2024 |
| Potential Denial of Service (DoS) Vulnerability in PowApprox Function | Low | Risk Accepted |
| Increase Precision of Initial Pool Shares to Match Industry Standards | Informational | Solved - 04/07/2024 |
| Missing Usage Description For All Transaction Commands Cli | Informational | Acknowledged |
| Implement Fee Market Integrated into Consensus Layer | Informational | Acknowledged |
| Lack OF IBC Rate-Limitting Implementation | Informational | Acknowledged |
| Arbitrary Token Transfer Leads to Chain Halt | Informational | Acknowledged |
| Keep Slippage Expiration Date as a Governance Parameter | Informational | Solved - 04/07/2024 |
| Silent Error in RecordWithdrawValidatorCommission Function | Informational | Acknowledged |
//Critical
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//Informational
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//Informational
//Informational
//Informational
//Informational
Halborn strongly recommends conducting a follow-up assessment of the project either within six months or immediately following any material changes to the codebase, whichever comes first. This approach is crucial for maintaining the project’s integrity and addressing potential vulnerabilities introduced by code modifications.
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