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Paul Munter, chief accountant of the United States Securities and Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform
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Mazars’ departure doesn’t mean, however, that conventional auditors cannot examine the books at crypto firms. Coinbase is a publicly traded company in the U.S., and so – as it must – the company releases full-fledged reports about its finances, audited by one of the largest accounting firms in the world:
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Crypto protocol audits typically include two to three auditors scouring the code over a few weeks. Sherlock, which sells its solutions directly to protocols, starts with one or two senior auditors taking a brief look at the code. Sherlock then hosts an auditing competition where entrants are financially rewarded for
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Simultaneously, Sooho.io announced a partnership with Lambda256, a subsidiary of South Korea's top cryptocurrency exchange by volume, Upbit. Lambda256 – which offers blockchain-as-a-service products – will use Sooho.io's Kleva and smart contract expertise to launch a decentralized finance (DeFi) ecosystem, according to the press release. Source
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As the cryptocurrency market has grown, so too have the number of bad actors looking to exploit vulnerable decentralized finance, or DeFi, protocols, and projects for their own gain. Earlier this month, the Ethereum-Solana Wormhole token bridge suffered the biggest hack of 2022, with $321 million lost due to a
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Crypto.com, a leading cryptocurrency exchange, experienced an incident on January 17 when some of its users reported strange activity in their accounts. The exchange acknowledged the event, and conducted an investigation immediately after, declaring that all funds were safe. However, reports from security and blockchain auditing firms Certik and Peckshield
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All applications built on top of Taraxa specifically address data visibility by implanting trust-verifying mechanisms to the backbone of operational transactions.Taraxa’s newly released testnet was just put to use for a process auditing platform that minimizes operational friction in multi-party business processes. The Silicon Valley-based blockchain startup is building auditing
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Balancer fell victim to a “flash loan” exploit, a mining conglomerate sees potential in blockchain and a shareholders association said EY should have caught Wirecard’s multi-billion-dollar blackhole earlier. Flash loans are one of many novel financial products made possible through decentralized technologies. But with innovation comes risk. Here’s the story: You’re reading Blockchain
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Auditing firm CertiK and Hyundai subsidiary Hdac are teaming up to bring Internet of Things (IoT) devices onto a blockchain. Hdac’s blockchain platform attempts to combine secure authentication, seamless mapping and machine-to-machine transactions in a blockchain network with IoT devices. CertiK’s team of blockchain engineers worked closely with Hdac to audit
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