The ParamountDax Security Audit

CryptoCurrency Press Release

18th September 20198:35 pm

Dear Community,

As we said in our Whitepaper in order to ensure maximum security of the exchange, In the next two weeks ParamountDax will conduct a security audit so that vulnerabilities are avoided.

The ParamountDax security audit will be conducted by HackenProof, a well-known third-party audit company, which is a part of Hacken Ecosystem, with products fueling cybersecurity industry from all sides: bug bounty platform, crypto exchange analytical ranking platform, cybersecurity conference HackIT, and a Cyber School.

Audit Goals

At the start of this project, we set out to create an exchange that would be different from the traditional exchanges.

The focus of the audit is to verify that the Exchange system is secure, resilient and working according to its specifications. The audit activities can be grouped in the following categories:

Security: Identifying security related issues within each contract and within the system of contracts.

Exchange: Contains the bulk of the business logic within the ParamountDax protocol. It is the entry point for filling orders, canceling orders, executing transactions, validating signatures and registering new ERC Proxy contracts into the system.

Asset: Is responsible for decoding asset-specific contained within an order, performing the actual asset transfer and authorizing/unauthorizing Exchange contract addresses from calling the transfer methods.

-Penetration Testing: The penetration testers work to uncover a real critical, and which are often missed by automated vulnerability scanners.

Penetration Testing Summary:

-An authorised attack

-Identifies vulnerabilities

-Identified vulnerabilities are exploited (as safely as possible)

-Attempts to raise privileges to identify if this is possible

-Uses pivoting to gain access to other machines within the organisation

-Discovered issues are chained together to manually exploit higher severity issues

The Paramount Dax team’s mitigation efforts on the audit results will be studied in detail. The report will be subject to updates to reflect on problems that may arise and attempt to resolve any bugs.

Nevertheless the most important feature on our exchange has always been security. We believe in the concept of open-source and that is why we decided to make this project transparent to our users. We also promised that we would do everything in our power to make it as safe as possible. Although nothing can ever be a hundred percent bulletproof, we can still create the most secure exchange.

While we continually monitor the latest developments relating to security, we hope to work with the community to help make the PRDX Token safer by collaborating on security and coding best practices.

Conclusion:

We also want to extend our sincerest gratitude to HackenProof and partners. We continue to offer a generous bug reward to white hat hackers and community members that identify potential vulnerabilities.

The ParamountDax team will investigate your report and will contact you to discuss the weakness, how you found it, and any follow-up action.

If you have any subsequent questions or just want to speak with someone from the ParamountDax Team, please do not hesitate to reach out on Telegram.

We will spend as much time as necessary to work through any technical issues.

Website : https://paramountdax.io/

View MVP : https://staging.paramountdax.com

ParamountDax community :

Telegram : https://t.me/ParamountDaxICO

Twitter : https://twitter.com/ParamountDax

Facebook : https://www.facebook.com/Paramountdax-2024636494500768

Bitcointalk: https://bitcointalk.org/index.php?topic=5137789.0

Reddit: https://www.reddit.com/r/ParamountDax/

THE AUTHOR
Andrey Romanov
Andrey Romanov