Cables RFQ - Shift Markets

1. Introduction

The Shift Markets team engaged Halborn to conduct a security assessment on their smart contracts beginning on 06-10-2024 and ending on 06-13-2024. The security assessment was scoped to the smart contracts provided in the https://github.com/ShiftForex/cables_evm_rfq_contracts GitHub repository. Commit hashes and further details can be found in the Scope section of this report. The Cables RFQ codebase in scope mainly consists of a smart contract to support a hybrid RFQ trading system to allow users to settle market trades on Cables Finance in a single transaction.

2. Assessment Summary

Halborn was provided 4 days for the engagement and assigned 1 full-time security engineer to review the security of the smart contracts in scope. The engineer is a blockchain and smart contract security expert with advanced penetration testing and smart contract hacking skills, and deep knowledge of multiple blockchain protocols.

The purpose of the assessment is to:

• Identify potential security issues within the smart contracts.

• Ensure that smart contract functionality operates as intended.

In summary, Halborn identified some improvements to reduce the likelihood and impact of risks, which were partially addressed by the Shift Markets team. The main identified issues were:

• Loss of funds due to missing verification for recipient.

• Potential one-sided zero value swaps.

• Centralization risks due to privileged access from swap signer.