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Chris: Can you give us an introduction about you and QuillAudits?
Preetam: My journey began 5 years ago when I came across a Bitcoin whitepaper, and got fascinated by the idea of decentralized disruption. After that, I decided to quit my job and started to work full time on this, and thus began QuillAudits.
As one of the leading Web3 security firms, QuillAudits provides smart contract audits and due diligence services to secure Web3 products.
In the last few years we have been successful in building authenticity and trust for our diversified portfolio of clients worldwide. In our journey, we have not only gained the trust of our clients but also have partnered with various renowned platforms and launchpads such as Unicrypt, Pathfund, Kross Chain, and more.
Chris: Thanks for accepting my invite! Your site states you provide cyber-security solutions for Web3 projects– Can you elaborate on how your solutions contribute to Web3 security?
Preetam: We meet the security needs of start-ups and established ventures by providing smart contract auditing for an extensive range of blockchain protocols, KYC services to certify the credibility of the project and Due diligence services to protect investors from cyber crimes happening in the space.
We have a team of outstanding crypto security thought leaders to conduct audits and formal verification of smart contracts, Dapps and other blockchain protocols.
The lucrativeness of the blockchain space captivates the attention of hackers to make a king’s ransom out of the innocence and investments of new entrants. Through our NFT & DeFi Due Diligence services, we acknowledge the possibilities of critical security threats in a project (e.g. rug pull scam) and protect investors' funds from any such potential loss.
More recently, we’ve added KYC services to investigate whether protocols entering the space are devoid of any malicious intent. Project accredited with a KYC badge gains greater visibility and trust among the communities.
Besides, we’re also furthering the scope of our cyber-security offerings by building tools such as rug pull detectors and proffer several programs to accelerate security considerations in projects entering the space.
Chris: Would you share some points about your newest program launch and how it orients with your company’s mission?
Preetam: Lately, we have launched the ‘WAGSI Grants Program’ to support developers building in Web3 to do it more securely.
QuillAudits WAGSI grants is a security initiative to reconcile the economic distress caused by the growing number of hacks and advance innovation in Web3.
In this program, We offer grants of up to $3000 for projects that we consider will have an influential impact on Web3. Developers can redeem the obtained grants for their project audits with us.
Chris: What’s your approach towards smart contract auditing?
Preetam: Smart contract audit essentially means testing the source code against a set of all the known code vulnerabilities that serve as attack vectors. We evaluate and assess code security on different grounds, such as validating crypto algorithms and simulating attacks on the DeFi protocols.
A part of the process includes line-by-line code review by our competent security experts and using advanced security tools to identify security flaws. A thorough analysis of the code is then followed by the best possible code optimization suggestions for overall security.
We conduct smart contract audits for diverse blockchain protocols such as Ethereum, Polygon, Binance smart chain, Solana, NEAR, Algorand and Tezos.
Chris: Can you describe your achievements aligning with the security of blockchain protocols?
Preetam: The increase in crypto losses has increased the interest of the communities in partnering with us, which keeps us growing in space. In 4 years, we have concluded audits for over 700+ web3 projects saving an estimated loss of about 15B+ in funds by offering code fixes to about 1000+ vulnerabilities.
Chris: Any special mentions on how you engage with communities that greatly impact your business?
Preetam: We believe communities hold more power and so we actively involve in engaging and expanding our communities through ambassador programs, Affiliate partnerships, event meet-ups, etc.
Through these programs, we get in touch with the influential figures of Web3 and strike a deal on infusing Web3 security while rewarding their contributions generously. And that’s about our partnership program in a nutshell.
Chris: Can you tell our readers about some lessons in business that you learned along the way?
Preetam: Blockchain tech is here to stay. So it's high time we make sure Web3 is a safe place for users to be utilized to its fullest potential.
Acknowledging that there is no sure-fire way to completely get rid of hackers, however, enforcing proactive precautions can go a long way in protecting the crypto assets. And based on our learnings, the only way to keep the risks at bay is to truly understand the space and pay heed to security to protect oneself from malicious crypto threats. Other tips-offs include,
- Gain better knowledge of tech to avoid falling prey to phishing scams, rug pulls
- Development with a security focus
- Realising the need for smart contract audits
Chris: Thank you! Where can we follow you?
Preetam: Thanks Chris, for your time. You can find us on social media channels such as Telegram, Twitter, LinkedIn, Substack, and Discord.
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