Quantstamp Secures Crypto.com Chain to Drive Faster and Easier Cryptocurrency Payments

Quantstamp Announcements
July 23, 2019

Quantstamp, a Y-combinator backed smart contract security company, is proud to announce we’ve completed an audit of the Crypto.com Chain. Crypto.com, the team behind the MCO Visa Card, a prepaid Visa card that allows users to spend cryptocurrencies easily and receive rewards such as cashback, airport lounge access, and other benefits as they use the card. Crypto.com has recently announced the Crypto.com Chain, a public blockchain focused on facilitating mobile crypto payments. It allows for fast settlement and provides rewards for merchants and consumers who use it to transact.

Along with the Crypto.com wallet app, a digital and fiat currency mobile wallet, the Crypto.com Chain aims to make cryptocurrencies easier for merchants to accept and for customers to spend. Customers receive purchase incentives while merchants enjoy instant settlement and no transaction fees.

“Crypto.com is a major player in the crypto payments space,” notes Richard Ma, CEO of Quantstamp. “The Crypto.com Wallet and MCO Visa Card make it easier to pay with cryptocurrency. We were happy to audit the Crypto.com Chain smart contracts and help them in their mission of faster, easier online payments with lower fees.”

This full service audit was performed over five days by four experienced security engineers from Quantstamp’s auditing team. Using state of the art automated tools to supplement manual processes, we performed an architectural review, unit and functional testing, computer-aided verification, as well as a manual code review. In case vulnerabilities were found, they were communicated to and addressed with the project team. In the end, Quantstamp’s audit resulted in robust token smart contracts with no serious vulnerabilities.

“With the Crypto.com Chain, we are aiming to drive the next step of cryptocurrency payments and drive adoption, not only by simplifying the payments themselves but also by rewarding both the merchants and consumers to use cryptocurrency for mobile and online payments,” said Kris Marszalek, CEO of Crypto.com. “The thorough audit of our token contracts by Quantstamp’s team of experienced security engineers gave us the confidence to roll out this project which we hope will accelerate the mainstream adoption of cryptocurrency payments.”

Auditing the Crypto.com Chain continues Quantstamp’s track record of helping secure projects aiming to improve mainstream adoption of cryptocurrencies and blockchain technology. For more information about Quantstamp’s smart contract security services and products, visit Quantstamp.com

About Quantstamp

Quantstamp is a smart contract security company that is developing the Quantstamp protocol and other automated security tools powered by QSP, and conducts manual audits. The Quantstamp protocol aims to enhance smart contract security and the reputation of projects that create smart contracts by producing openly accessible scan reports. Get an audit or run a security scan today at Quantstamp.com

About Crypto.com

Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: Crypto.com Wallet & Card app, the best place to buy, sell, and pay with crypto; the MCO Visa card, a metal card with no annual fees; and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com.

August 21, 2019

EthBerlin Security HelpDesk Details, Security Award & Hosted Points Bonus from Quantstamp + MythX

Quantstamp and MythX are very excited to support EthBerlin this year. If you're participating, come find us at the HelpDesk, your one-stop resource for any security-related inquiries. Need suggestions on more secure code implementations or advice on mitigating certain vulnerabilities? The HelpDesk is available round the clock to offer guidance and assistance throughout the hackathon.

August 13, 2019

Open Sourcing Our Bounty Protocol

We are open sourcing the code for our Bounty Protocol. A bounty protocol is a marketplace for developers to identify bugs in smart contracts that automation cannot detect. The Bounty Protocol has the potential to leverage software engineering talent from around the world to add an essential layer of infrastructure for blockchain security.

July 31, 2019

Join Our Meme Competition

On August 1st, Quantstamp will begin our Meme Competition. Subject to eligibility, the winner of the Meme Competition will receive a Nintendo Switch Console, Mario Kart 8 (game for the Nintendo Switch), a Ledger Nano X, and a copy of our book, Fundamentals of Smart Contract Security!

July 30, 2019

Quantstamp Community Update July 2019

Quantstamp Security Network growth, securing Binance’s first stablecoin, auditing Klaytn, Congressional Blockchain Education Day - it’s been an exciting month at Quantstamp. Here's what's been going on: