Case study: Hacken performs a Smart Contract Audit for Membrana
Company name: Membrana
Company description: platform for trust management of digital assets
Service:Smart contract audit and penetration testing
Have you ever paused in thought before investing in one or another project? Have you ever been confused as to where and how it’s
better to exchange your crypto? Have you ever had doubts whether you can trust the trader? Being an investor, you definitely might have had such thoughts milling about in your head.
Hacken’s new partner, Membrana, is looking towards resolving all your worries. It’s a blockchain platform for concluding mutually beneficial and secure contracts, between investors and traders for trust management of cryptocurrency assets. We performed a smart contract audit and pentest of the platform.
What is Membrana?
Trust management of assets is a sphere that has always been in high demand. Investors are ready to entrust their assets to successful traders to generate income. The cryptocurrency market is no exception and is of increasing interest to both investors and traders. Currently, there are a lot of risks related to giving your money in management, such as fraud, lack of trust and other counterparty risks. As a result, Membrana has created a unique algorithm to avoid risks for both participants of a deal to make cooperation more profitable and safer.
The primary objective of the Membrana platform is to directly connect an investor and a trader to conclude a mutually beneficial, secure, and reliable contract. The platform allows an investor to give traders an opportunity to manage funds, but not to possess them. Thus, the latter trades with the investor’s exchange account through Membrana unique interface. It is necessary to mention that investors do not transfer their funds to Membrana as well, the funds are always on their exchange’s account. The trader is assured of his payment because his commission fee is guaranteed with the help of Ethereum Smart Contract. Follow Membrana’s Telegram Community for more details!
Sevices by Hacken
Hacken has recently performed the smart contract audit of Membrana. For 10 days, two different and independent auditors have been verifying the smart contract. They checked whether it corresponded the intended logic, and with the help of gas analysis auditors ensured that unnecessary fees are not paid. Eventually, some potential vulnerabilities were uncovered which, however, didn't allow unauthorized access or an opportunity to steal sensitive data. Eventually, a detailed report of certification with recommendations was handed over to Membrana.
Having performed the audit of the client’s infrastructure, the Hacken team concludes that Membrana is safe enough as the identified vulnerabilities can be eliminated easily and within little time. We always eagerly anticipate announcing our new partnership, as all our clients bring fantastic innovations to the world. This time it’s all about trust management solutions. Let’s watch together how Membrana will change the crypto community with new promising innovations.
At Hacken, we take security extremely seriously, and all the checks are performed according to the highest standards. If you have any questions about the topic or need a consultation, feel free to contact our Team!
It’s a community-driven business organization, consisting of HackenHub, HackIT cybersecurity conference, HackenProof bug bounty platform, and Crypto Exchange Ranks.