ChainSecurity has completed a security audit of the ReitBZ project – powered by BTG Pactual. To find out more about the scope of the audit and considered properties, see our audit report.
BTG Pactual deploys a security token called ReitBZ (RBZ) which is backed by Brazilian real estate assets. RBZ is a fully compliant security token regulated in Cayman Islands. RBZ is a mintable and burnable ERC20 token. The security token crowdsale will be managed by BTG Pactual. The exchange rate for the crowdsale will be set by ReitBZ off-chain. Only whitelisted potential investors can purchase ReitBZ tokens off-chain from ReitBZ and later ReitBZ will mint RBZ tokens for these investors.
The ReitBZ smart contracts have been analyzed with state-of-the-art tools for verification of generic vulnerabilities and custom functional requirements. During this process, ChainSecurity found:
– 1 high and 3 low security issues;
– 3 medium trust issues;
– 1 high, 3 medium, and 11 low design issues.
All reported issues have been addressed by ReitBZ and the provided test cases have been improved. In particular, all security and design issues have been eliminated with appropriate code fixes.