Audit Company
Cyberscope
Cyberscope is a relatively young auditor with a rich portfolio of over 1200 projects. The company published its first report in 2021 and since then, has been a prominent name in DeFi security.
DSA presents a unique series of reports on the smart contract and blockchain app auditor market. This report is published for the first time and is not affiliated with any specific vendor. The DSA expert team has performed an in-depth analysis of the blockchain security providers in the market. For that, a methodology was developed, and specific criteria were selected. The data provided in the report are actual for May 2023.
Contents
The main criteria for auditor review
1
Trustworthiness
At this point, we analyze the team, key players, as well as the experience of the company in the field.
2
Media Presence
In this paragraph, we analyze the social networks of the project, the engagement rate, and media publications.
3
Speed and service
In this paragraph, we analyze the speed of the audit as well as the speed of the team's response to the request.
4
Expertise
At this point, we analyze the company's experience with different networks, technological advancements, as well as additional services.
5
Price
In this paragraph, we analyze prices and additional services (We send the same sample contract to every auditor), sales, promo offers, bonuses, discounts, and legal transparency.
6
Quality
In this paragraph, we analyze audit quality, report analysis, and user experience.
Categories and sub-categories
6 categories are present in the review and each may be divided into sub-categories. Each category is evaluated to receive from 1 to 10 points. The same rule applies to each sub-category and the arithmetic mean value of the sub-categories will become a result of the main category. The main result will be calculated in the same manner.
Trustworthiness
- Team members' separate experiences in the field
- Current team’s experience in the field
- Company experience (years of service, date of the first audit)
Media Presence
- Social media (engagement rate, further – ER)
- Media publications
Speed
- Audit speed
- First response speed (from a real person)
- Follow-up response speed
Expertise
- What blockchains does the company audit (rare chains and language get an additional point)
- Technological advancements (developments, tools, automated tools)
- Services (KYC, Incident research, marketing)
Price
- Prices and additional services (We send the same sample contract to every auditor)
- Sales, promo offers, bonuses, discounts
- Legal transparency
Quality
- Audit quality, report analysis
- User experience
Detailed analysis
6 categories are present in the review and each may be divided into sub-categories. Each category is evaluated to receive from 1 to 10 points. Same rule applies to each sub-category and the arithmetic mean value of the sub-categories will become a result of the main category. The main result will be calculated in the same manner.
Trustworthiness
Average score 7,7/10
1
Team members' separate experiences in the field
The leadership team consists of 3 members
Thanos Tsavlis - Co-Founder, CEO
John Apostolidis - Co-Founder, CTO
Michael Michelis - Co-Founder, COO
Each member of the leadership team possesses extensive experience of at least 6 years in their respective field. Additionally, they have experience working for such companies as Netdata, BestPrice.gr, Workable, etc.
Thanos Tsavlis - Co-Founder, CEO
John Apostolidis - Co-Founder, CTO
Michael Michelis - Co-Founder, COO
Each member of the leadership team possesses extensive experience of at least 6 years in their respective field. Additionally, they have experience working for such companies as Netdata, BestPrice.gr, Workable, etc.
2
Current team’s experience in the field
Aside from the key team members, the company’s LinkedIn page contains a list of 7 employees. The staff includes tech specialists and auditors, as well as operational managers, business development, and marketing specialists. The team often participates in blockchain events such as European Blockchain Convention, Blockchain Expo Amsterdam, Coinfest Asia, etc.
3
Company experience (years of service, date of the first audit)
According to the company’s profile on GitHub, the first audit was published on Dec 1, 2021. Since then, the company has audited over 1200 projects which clearly shows that the company’s experience is measured in the number of audited projects rather than the time of its work. The company’s GitHub repository shows the actual audit reports proving the stated number. It’s regularly updated with new reports.
Media presence
Average score 4,5/10
1
Social Media
The company has 2 Twitter accounts, The main account has an average number of followers and a rather low engagement rating compared to similar accounts.
The announcement account, however, has a high engagement rating, even though the number of followers is relatively low.
Both accounts are updated regularly with announcements about audits and KYCs alike, as well as informational tweets, development news, and security news in general on the main account.
The team has a separate Twitter account for their project coinscope. Coinscope is a platform developed by the Cyberscope team for listing newly released tokens. This account has a high number of subscribers but a low engagement rating.
The company has a Medium page, a CMC and a LinkedIn profile. However, the activity is low so the engagement rating is irrelevant.
The announcement account, however, has a high engagement rating, even though the number of followers is relatively low.
Both accounts are updated regularly with announcements about audits and KYCs alike, as well as informational tweets, development news, and security news in general on the main account.
The team has a separate Twitter account for their project coinscope. Coinscope is a platform developed by the Cyberscope team for listing newly released tokens. This account has a high number of subscribers but a low engagement rating.
The company has a Medium page, a CMC and a LinkedIn profile. However, the activity is low so the engagement rating is irrelevant.
2
Media publications
The team regularly is frequently interviewed and participates in podcasts such as BITCOURIER, and The Seasonal Tokens.
All data is actual at the time of compiling the report in May, 2023.
Social media and ER:
Twitter - 7,600 subscribers, ER 0.051%
Approximately the account receives:
3.2 likes per tweet
0.6 replies per tweet
0.1 retweets per tweet.
Announcements Twitter - 3,100 subscribers, ER 0.19%
Approximately the account receives:
3.5 likes per tweet
0.6 replies per tweet
1.9 retweets per tweet.
Coinscope Twitter - 16,100 subscribers, ER 0.009%
Approximately the account receives:
0.7 likes per tweet
0.5 replies per tweet
0.2 retweets per tweet.
Social media and ER:
Twitter - 7,600 subscribers, ER 0.051%
Approximately the account receives:
3.2 likes per tweet
0.6 replies per tweet
0.1 retweets per tweet.
Announcements Twitter - 3,100 subscribers, ER 0.19%
Approximately the account receives:
3.5 likes per tweet
0.6 replies per tweet
1.9 retweets per tweet.
Coinscope Twitter - 16,100 subscribers, ER 0.009%
Approximately the account receives:
0.7 likes per tweet
0.5 replies per tweet
0.2 retweets per tweet.
Speed
Average score 7,5/10
1
Audit Speed
An audit takes approximately 7-11 days, which is an average speed for similar companies.
2
First response speed
After being approached via Telegram, the manager responded within 20 minutes.
3
Follow-up response speed
After receiving the follow-up information, the manager provided the quote within 12 hours.
Expertise
Average score 6,1/10
1
What blockchains does the company audit
Officially the team audits projects in the following chains
Ethereum
Binance
Polygon
Dogechain
Aptos
It also works with other Solidity chains and audits NFT smart contracts
The company works with EVM and non-EVM chains. Aside from Solidity projects, the company takes on projects in the Aptos chain on the Move language.
The company also audits protocols and NFTs.
Ethereum
Binance
Polygon
Dogechain
Aptos
It also works with other Solidity chains and audits NFT smart contracts
The company works with EVM and non-EVM chains. Aside from Solidity projects, the company takes on projects in the Aptos chain on the Move language.
The company also audits protocols and NFTs.
2
Technological advancements
The company has a list of developed tools
Cyberscan - Smart audit and similarity analysis for a contract
Safescan - Anti Money Laundering and KYC Analysis for an address
Similarityscan - Similarity detection of an address or source code
Signaturescan - Search for event, error, and function signatures that stored in the Cyberscope Etherium Signature Database
Coinscope - Crypto platform and listing site for newly launched coins
Cyberscan - Smart audit and similarity analysis for a contract
Safescan - Anti Money Laundering and KYC Analysis for an address
Similarityscan - Similarity detection of an address or source code
Signaturescan - Search for event, error, and function signatures that stored in the Cyberscope Etherium Signature Database
Coinscope - Crypto platform and listing site for newly launched coins
3
Services
In addition to audit services the company provides KYC
Prices and additional services
Average score 7,9/10
1
Audit prices, affordability
The audit of the test smart contract costs $4.7k. This is the average price for the market and it’s affordable for the majority of new projects.
2
Sales, promo offers, bonuses, discounts
During communication with the team, no discounts were offered. In addition to the report, the company provides a marketing campaign that includes tweets, email newsletters, and banner ads on its high-traffic domain.
3
Legal transparency
The company accepts stablecoins as well as fiat.
Quality
Average score 8,9/10
1
Audit quality, report analysis
- Issue description (thoroughness, code examples): YES
- Project description and contracts (what do they do): YES
- Conclusions (automatically generated vs written by specialists): NO
- Recommendations: YES
- Manual audits (a large number of automatically generated audits is a disadvantage): YES
In general, the company’s reports seem thorough. Judging from the descriptions of the issues, the code is analyzed manually. Among discovered issues there are often ones that can’t be detected by an automatic analysis, there are examples of code and recommendations listed in the report.
2
User Experience
A quote can be requested via email or directly from a manager via Telegram. The latter option is very convenient for any potential client who wants to ask questions or request additional information.
Final Score
Considering the results presented in every category, the following points have been assigned:
7,7/10 Trustworthiness
4,5/10 Media presence
7,5/10 Speed
6,1/10 Expertise
7,9/10 Prices and additional services
8,9/10 Quality
The Final Score:
7,1/10
7,1/10
This is the analytic report in a series of reports on the smart contract and blockchain apps auditor market. Presented to you by DSA, it’s guaranteed impartial and factual information on the most well-known, new, and obscure players.
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