Audit

Prager Metis CPAs has settled with the SEC for $1.95 million over allegations of audit negligence and violations of auditor independence rules in its audits of crypto exchange FTX. Settlement Details and Background FTX's auditor, Prager Metis CPAs, has agreed to a $1.95 million settlement with the U.S. Securities and Exchange Commission (SEC). This settlement comes after allegations of misconduct during the former’s audits of the crypto exchange FTX from February 2021 to April 2022. The SEC's investigation found evidence…

Tether, one of the largest crypto companies in the industry and issuer of the most widely used stablecoin USDT, has released its attestation report for the first half of the year, recording substantial gains that amount to nearly $1 billion per month. Transition To US Treasuries Pays Off According to the report, independently audited by accounting firm BDO, Tether’s net operating profit for the second quarter of 2024 reached a new high of $1.3 billion, propelling the company’s total net…

Nexo, a leading institution in digital asset management, has announced its continued commitment to data security after successfully renewing its SOC Type II audit. Paired with the achievement of a new SOC 3 Type II certification, the expanded audit scope, now including additional Trust Service Criteria such as Confidentiality, demonstrates Nexo’s dedication to the safeguarding of sensitive user data. On July 25, 2024, Nexo announced these significant milestones with an emphasis on data protection, which remains at the heart of…

Tools for Humanity has voluntarily extended the suspension of Worldcoin’s activities in Spain for the rest of the year to give the regulator auditing its GDPR compliance sufficient time for the assessment. Despite the suspension news, the WLD token has gained 4%, but it has dipped 23% in the past month and lost 55% since the start of March. Worldcoin’s scrutiny by global regulators is unlikely to stop anytime soon. In the latest development, the project has suspended its activities…

To ensure the new protocol’s security, the IOTA Foundation commissioned a comprehensive audit by the renowned security firm Zokyo, which awarded the IOTA EVM a perfect score of 100 points. In preparation for the IOTA EVM launch, Safe has introduced a new MultiSignature Wallet. The IOTA community is gearing up for the highly anticipated launch of the IOTA Ethereum Virtual Machine (EVM) in June. To ensure the robustness and security of this new protocol, the IOTA Foundation engaged Zokyo, a…

London, United Kingdom, April 17th, 2024, Chainwire A new multichain meme coin, Dogeverse, has raised $6 million in its presale and recently passed a smart contract audit. The new meme coin leverages bridge technology, ensuring the token is available across the most prominent on-chain markets. Multichain Approach Creates Widespread Accessibility Dogeverse’s approach to multichain availability means the token is available across the leading smart contract-enabled blockchains.  Its initiative begins on Ethereum, BSC, and Polygon but will soon launch on Solana,…

Singapore, Singapre, April 9th, 2024, Chainwire Comprehensive security checks are now possible at only 10% of the traditional costThe price and report creation is 10 times faster and cheaper than traditional firmsThis firm optimized for projects that "want to audit contracts but have limited budgets" or "wish to conduct an initial audit during the development stage" Bunzz, a Singapore-based web3×AI tech startup launches "Bunzz Audit," an AI-driven smart contract auditing service offering fast, cost-effective audits with actionable insights for security…

Tether, the company behind the USDT stablecoin, has announced the successful completion of a System and Organization Controls 2 (SOC) audit.  The audit, developed by the American Institute of Certified Accountants (AICPA), is the highest level of security compliance an organization can achieve.  Coinbase Completes Gold Standard Audit  Tether announced the news in a blog post, stating that the company had taken a significant step towards achieving the highest level of security compliance achievable by an organization. Tether described the…

Smart contract auditing and security tools help developers detect vulnerabilities in their blockchain-based applications. Many of these services can uncover hidden flaws and provide remedial actions to increase protection against malicious attacks. As a result, Web3 developers and DeFi applications cannot afford to launch their projects without using industry-leading services like: Cyfrin Aderyn Certora Slither Echidna Halmos Hacken This article looks closer at these smart contract auditing tools and their security-enhancing features widely used by developers everywhere. A Short Introduction…