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Notes from the review desk.

Protocol internals, exploit reconstruction, cryptography, and the edge cases we carry into every audit.

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12 articles

Hack Analysis

Solv Protocol Hack Analysis (March 2026): Callback-Driven Double Minting in an ERC-3525 Wrapper

A source-level analysis of Solv's BitcoinReserveOffering showing how callback-based deposit handling and post-transfer minting combine to issue shares twice for the same underlying SFT value.

Solv ProtocolIncorrect Accounting
10 min read
Solana

SPL vs Token2022: From Mint to Account

A technical comparison of SPL Token and Token2022—from mint/account layouts to ATA creation—highlighting program IDs, extensions, and real initialization flows.

SolanaSecurity
15 min read
Solana

Why Anchor Accounts Go Stale After CPI (and When to Reload)

In Anchor, `Account<T>` is a cached snapshot of account data. After CPI, the runtime account changes but your cached view does not—unless you `reload()`.

SolanaSecurity
10 min read
Solana

How init and init_if_needed work under the hood and the associated token account griefing attack

A deep dive into how Anchor’s #[account(init)] and #[account(init_if_needed)] are parsed and code-generated, what “needs initialization” really means at runtime, and how using init with associated token accounts can enable griefing/DoS via pre-created ATAs.

SolanaSecurity
30 min read
DeFi

Morpho Internals Part 5: Integration Security Guide

A security-focused guide for integrating with Morpho: an expanded walkthrough of the official integration checklist, with concrete pitfalls and code-level explanations for core and MetaMorpho vault flows.

MorphoLending
30 min read
DeFi

Morpho Internals Part 4: MetaMorpho

How MetaMorpho wraps Morpho markets into a single ERC4626 vault with supply/withdraw queues, role-gated caps, and fee/timelock design.

MorphoLending
30 min read
DeFi

Morpho Internals Part 3: Oracle

A deep dive into Morpho's oracle surface area and MorphoChainlinkOracleV2: ERC4626 vault conversions, base/quote feed wiring, two-hop unit cancellation, and the 1e36 SCALE_FACTOR derivation.

MorphoLending
30 min read
Solana

Pre-Funding DoS in Solana: Breaking create_account with Non-Zero Lamports

A system-level Solana DoS pattern: pre-funding a predictable address (e.g., a PDA) makes `create_account` fail with AccountAlreadyInUse. Includes mitigations and how Anchor avoids it.

SolanaSecurity
10 min read
DeFi

Morpho Internals Part 2: IRMs

How Morpho Blue computes borrow rates: FixedRate warm-up and a deep dive on AdaptiveCurve with utilization-driven anchor updates.

MorphoLending
1 hour read
DeFi

Morpho Internals Part 1: Morpho Blue

Deep dive into Morpho Blue's core contract—market creation, supply/borrow/collateral flows, liquidation math, and interest accrual mechanics.

MorphoLending
30 min read
DeFi

How Uniswap V3 handles liquidity better than V2

A deep dive into the mathematical principles behind liquidity provision in Uniswap V2 and V3, exploring how concentrated liquidity revolutionizes capital efficiency while maintaining protocol consistency.

UniswapDeFi
30 min read
Cryptography

Elliptic curve attacks - from small subgroup attack to invalid curve attack

How missing public-key validation in ECDH enables small-subgroup and invalid-curve attacks, and what robust defenses look like.

Elliptic CurvesCryptography
30 min read