A deep dive into Axiom’s Halo2 circuits

Over two audits in 2023, we reviewed a blockchain system developed by Axiom that allows computing over the entire history of Ethereum, all verified by zero-knowledge proofs (ZKPs) on-chain using ZK-verified elliptic curve and SNARK recursion operations. This system is built using the Halo2 framework—a complex, emerging technology that presents many challenges when building a secure application, including potential under-constrained issues resulting from its low-level API.

We’re partnering to strengthen TON’s DeFi ecosystem

TVM Ventures has selected Trail of Bits as its preferred security partner to strengthen the TON developer ecosystem. Through this partnership, we’ll lead the development of DeFi protocol standards and provide comprehensive security services to contest-winning projects deploying on TON. TVM Ventures will host ongoing developer contests where teams can showcase innovative applications that advance […]

The call for invariant-driven development

Writing smart contracts requires a higher level of security assurance than most other fields of software engineering. The industry has evolved from simple ERC20 tokens to complex, multi-component DeFi systems that leverage domain-specific algorithms and handle significant monetary value. This evolution has unlocked immense potential but has also introduced an escalating number […]

Preventing account takeover on centralized cryptocurrency exchanges in 2025

This blog post highlights key points from our new white paper Preventing Account Takeovers on Centralized Cryptocurrency Exchanges, which documents ATO-related attack vectors and defenses tailored to CEXes. Imagine trying to log in to your centralized cryptocurrency exchange (CEX) account and your password and username just… don’t work. You […]

Best practices for key derivation

Key derivation is essential in many cryptographic applications, including key exchange, key management, secure communications, and building robust cryptographic primitives. But it’s also easy to get wrong: although standard tools exist for different key derivation needs, our audits often uncover improper uses of these tools that could compromise key security. Flickr’s API […]