The most critical subjects covered in our audit are functional correctness, access control, precision of arithmetic operations, front-running and signature handling. Security regarding most of the aforementioned subjects is high. Security of signature handling is basic due to possible ECDSA malleability, see ECDSA Signature Malleability. Security of front-running is good but keepers could lose funds to rogue makers unexpectedly due to unawareness of the exact functionality of sniping, see No Protection for Keepers.
The general subjects covered are unit testing, documentation, specification, gas efficiency and error handling. Security regarding all the aforementioned subjects is high.
In summary, we find that the codebase provides a high level of security.
It is important to note that security audits are time-boxed and cannot uncover all vulnerabilities. They complement but don’t replace other vital measures to secure a project.