Securing a Derivatives Platform With Over $25b Volume

Abstract

How would you approach exploiting a derivatives market? We'll explore how we secured a perpetuals market averaging north of $100m in daily volume. It'll be a technical deep dive beyond traditional pentesting concerns, focusing on abusing game theory and economic models for profit. In the high-stakes world of smart contracts, a single overlooked flaw could result in an instantaneous multi-million dollar loss. The talk will be based on experience gained through security reviews iosiro has performed of Synthetix's Perpetual markets. The code, infrastructure, and assessment results are all public, so we can give deep insights into our learnings.