Researchers from Beosin have reminded about the upcoming launch of the mainnet of Blast, scheduled for March 1, 2024. They assessed the security risks and potential vulnerabilities of the Layer2 project, considering the Total Value Locked (TVL) exceeding $2 billion.

Experts expressed concerns regarding the Blast project, pointing out the criticism and skepticism it has faced since its launch. Particular attention was paid to the Blast Deposit contract and its EnableTransition() function, accessible only to the administrator, which may pose serious security risks.

Specialists noted that the Blast Deposit contract is managed by a Gnosis Safe 3/5 multisignature wallet created three months ago. They also highlighted the latest update on February 19, which made changes to the deposit contract, including the IERC20Permit interface in preparation for the mainnet launch.

Researchers reminded that the Blast project, representing a second-layer scaling platform, was launched by the founder of Blur under the pseudonym Pacman. The startup received $20 million in funding from Paradigm and Standard Crypto. Its peculiarity lies in generating profit from ETH and stablecoins by investing users' funds in Lido and Maker protocols.

Currently, representatives of Beosin have initiated an audit plan for the Blast ecosystem to eliminate privacy risks and ensure the security of users' assets and projects in the Web3 sector.