August 12th, 2021
Sifchain is an omni-chain, decentralized exchange (DEX) based on the Cosmos SDK and is inspired by Thorchain’s infrastructure for cross-chain integration.
In November 2020, Halborn stepped in as a security advisor to Sifchain to instill best practices in its development processes. In January and July of 2021, Halborn conducted a security assessment on all protocol codes on Sifchain nodes and the Ethereum bridge, Peggy, prior to its production release. Halborn also audited the Sifchain token sale smart contracts.
The team of ethical hackers and blockchain specialists at Halborn performed a combination of manual and automated security testing to balance efficiency, timeliness, practicality, and accuracy regarding the scope of the audit.
For the smart contract audit reports, please refer to:
Traditional protection and prevention mechanisms have been unable to solve blockchain protocol security. Blockchain is rapidly developing and evolving, while the focus on a strong security system is often left behind.
The Halborn Red Team Security Assessment is based on the offensive view, wherein our team of whitehat ethical hackers creates a comprehensive strategy to maximize the protocol security.
In a typical penetration testing, ethical hackers break into a computer system with no element of surprise. The defending team, also known as the blue team, is already aware of the impending attack and usually has a defense strategy in place.
In contrast to a standard penetration test, a red team adds physical penetration, social engineering, and an element of surprise to break into a system. The objective is to test the response and attack detection capability of an organization. The blue team, in this case, has no idea of the attack and will treat this as a real intrusion. The red team approach, thus, provides a much more in-depth analysis and feedback.
“We’re bullish on Sifchain’s technology and look forward to our continued collaboration on blockchain security.”Rob Behnke, CEO of Halborn.
Halborn is going to continue its use of its “always-on” approach to testing all of Sifchain’s assets and updates as a part of its SAAAS (Security Advisory As A Service) offering. The Sifchain team has been working with Halborn since genesis and is grateful to continue collaboration to improve overall network security.
Halborn’s team of white hat, ethical hackers shall perform continual constant auditing on every update to ensure the best security before deployment on the network.