During 02/25/2020 to 03/03/2020, we had the opportunity to perform an independent security audit on an improved version of InstaDApp smart contract wallets, i.e., InstaDApp Smart Accounts. Our security audit leads to the identification of several issues with varying severity levels, including one high-severity issue, two medium-severity issues, and seven minor issues. The high-severity issue could potentially be exploited to front run the initialization of smart contracts after being deployed. If successful, it could cause denial of service. The exploitation is considered difficult to launch and brings no actual benefit to the attacker nor risk to users. The two medium-severity issues are related to the wallet business logic and have been properly resolved. As per discussion with the team, the current design is intended to make the entire system an open framework for all users and developers, which we fully agree. To the best of our knowledge, the final patched code contains no security issue of significance. We look forward to the mainnet deployment and operation. The complete report can be found here.
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