Badger ibBTC
Summary
We have performed an audit and discovered 13 issues, ranging from High to Undetermined. The distribution of severity is detailed both above and below this text. In this audit, we found that the implicit trust towards external contracts to be problematic, and recommend that the ibBTC team consider the security model of "trust, but verify" whenever handling any external interactions. We have also found the documentation to be imprecise and lacking in some areas, which we have noted in one of the issues. There was also a lack of tests for the contracts, and we heavily recommend raising the coverage level to the minimum of 100%. We urge the ibBTC team to strongly consider the issues and the recommendations, and make the appropriate fixes and/or official acknowledgements about it, in a speedy manner, especially as it seems that the system has already been launched before the audit has taken place.
