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Assessment Phase for Security Audits

The assessment phase is the foundation of our security audit process, where we define the scope, understand the project architecture, and plan our approach to identify vulnerabilities, logic flaws, and security weaknesses.

Initial Assessment Objectives​

Our assessment phase aims to:

  • Establish a clear understanding of the project's architecture and components
  • Define the scope and boundaries of the security audit
  • Identify high-risk areas requiring focused attention
  • Develop a tailored audit strategy based on project characteristics
  • Establish communication channels and expectations with the development team

Assessment Methodologies​

Code Review Preparation​

Before diving into detailed code review, we prepare by:

  • Analyzing repository structure and dependencies
  • Reviewing documentation and specifications
  • Understanding the intended behavior and security assumptions
  • Identifying critical components and trust boundaries
  • Creating a preliminary risk assessment

Architecture Analysis​

We examine the overall system design to understand:

  • Component interactions and trust relationships
  • Authentication and authorization flows
  • Data flow across the system
  • Upgrade mechanisms and governance structures
  • External dependencies and integration points

Threat Modeling​

Structured approach to identifying potential attack vectors:

  • STRIDE: Analyzing Spoofing, Tampering, Repudiation, Information disclosure, Denial of service, and Elevation of privilege threats
  • Attack Trees: Mapping potential attack paths and prerequisites
  • Privilege Analysis: Examining permission structures and access controls
  • Trust Boundary Analysis: Identifying where trusted and untrusted components interact

Risk Assessment​

We categorize project components based on:

  • Impact potential if compromised
  • Exposure to external actors
  • Complexity and novelty
  • Financial value controlled
  • History of similar vulnerabilities

Technical Assessment Focus Areas​

Access Control​

  • Permission systems and role-based access
  • Ownership transfer mechanisms
  • Privileged functions and administrative controls
  • Secure authentication patterns

Asset Management​

  • Token handling and transfers
  • Fee calculations and distributions
  • Balance accounting and reconciliation
  • Asset custody and withdrawal patterns

External Interactions​

  • Integration with other contracts and protocols
  • Oracle dependencies and data validation
  • Cross-contract reentrancy protections
  • External call safety

Gas Optimization and DoS Protection​

  • Gas-intensive operations in loops
  • Unbounded operations that could exceed block gas limits
  • Resource exhaustion vectors
  • Fee management

Business Logic Assessment​

For DeFi and economic systems, we assess:

  • Economic Attack Vectors: Flash loans, price manipulation, sandwich attacks
  • Incentive Alignment: Ensuring protocol incentives align with security goals
  • Edge Case Simulation: Testing extreme market conditions or user behaviors
  • Game Theory Analysis: Examining strategic interactions between rational actors

Documentation During Assessment​

During the assessment phase, we create:

  • Scope Document: Clearly defining what is included and excluded from the audit
  • Risk Register: Preliminary identification of risk areas
  • Audit Plan: Detailed approach for the execution phase
  • Question Log: Documentation of any ambiguities requiring clarification

Assessment Deliverables​

The assessment phase produces:

  • Audit Scope Document: Formal agreement on audit boundaries
  • Initial Risk Assessment: Preliminary identification of high-risk areas
  • Audit Strategy: Tailored approach based on the project's characteristics
  • Timeline and Milestones: Schedule for the audit process

Best Practices​

  • Collaborative Planning: Engage with the development team to understand project nuances
  • Comprehensive Documentation Review: Thoroughly examine available documentation
  • Balanced Coverage: Allocate attention based on risk, not just code volume
  • Regular Updates: Maintain communication as the assessment reveals new information
  • Flexible Adaptation: Adjust the audit plan as new insights emerge

The assessment phase sets the foundation for an effective security audit. By thoroughly understanding the project, its architecture, and potential risk areas, we can focus our efforts during the execution phase to maximize security coverage and value.