Cyfrin
Cyfrin is a Boston-based smart contract security firm that provides private audits, a competitive audit marketplace (CodeHawks), developer education (Updraft), and security research tools (Solodit, Aderyn) to DeFi protocols, Layer 1 and Layer 2 networks, and blockchain infrastructure projects.
- Company typePrivate
- Founded2023
- HeadquartersBoston, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Cyfrin does
Cyfrin is a Boston-based smart contract security company founded in 2023 that delivers private audits, a competitive audit marketplace, developer education, and security research tooling to blockchain protocols and developers. Its core product stack consists of the Cyfrin audit service, the CodeHawks competitive audit platform, the Updraft blockchain developer education platform, the Solodit security research database, the Aderyn Solidity static analyzer, and Foundry DevOps deployment tools. The firm serves major DeFi protocols, Layer 1 and Layer 2 networks, and infrastructure projects, with a documented customer list spanning Uniswap, Chainlink, Lido, zkSync, Ondo Finance, Wormhole, Curve, PancakeSwap, Arbitrum, Optimism, Base, Polygon, Avalanche, Starknet, Ethena, and the Ethereum Foundation, across chains including Ethereum, Solana, Arbitrum, Optimism, Polygon, Base, BNB, Avalanche, and zkSync.
Cyfrin generates revenue through four primary streams: professional service fees for private smart contract audits, platform and contest fees on CodeHawks competitive audits, freemium and premium content on Updraft (including Solidity certifications), and transaction-based revenue from bug bounties and Solodit research platform access. Pricing is quote-based and undisclosed, with multi-year contracts referenced. The go-to-market combines enterprise field sales for large protocol audits with a product-led growth motion through Updraft and a community-led growth engine through CodeHawks, the latter functioning as both a service delivery mechanism and a talent pipeline for the firm.
The company has positioned itself within the Ethereum Foundation's Trillion Dollar Security Initiative and the ERC-7730/ERC-8176 clear-signing working group alongside Ledger, MetaMask, WalletConnect, Trezor, and Fireblocks. Management is led by co-founders Patrick Collins (CEO) and Hans (Head of Security Research), with Mike Karan as Head of Engineering and Mark Scrine (formerly Business Lead at Chainlink) as Chief Sales Officer. The firm claims to have helped secure over $40B+ in DeFi TVL across audited protocols.
Cyfrin firmographics
Firmographics- Name
- Cyfrin
- Legal name
- Cyfrin
- Website
- https://cyfrin.io
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cyfrin is a Boston-based smart contract security firm that provides private audits, a competitive audit marketplace (CodeHawks), developer education (Updraft), and security research tools (Solodit, Aderyn) to DeFi protocols, Layer 1 and Layer 2 networks, and blockchain infrastructure projects.
- Ownership category
- akta.pro rank
Cyfrin industry classification
Industry- Product category
- Smart Contract Security
- NAICS
- Software Publishers (5132)
- akta.pro primary industry
- Smart Contract Auditing & Formal Verification (FSAPAJAA)
- akta.pro secondary industries
- Smart Contract Security Tooling (static/dynamic analysis, formal verification) (FSAPABAI), Deployment, Automation & DevOps (build pipelines, contract deployment tools) (FSAPABAH), Digital Asset Risk, Security & Audit Tooling (Smart Contract Audit, Threat Monitoring) (FSAGAMAJ)
Keywords
Where Cyfrin is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Markets served
Cyfrin business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Others
Revenue model
- Private Smart Contract Audits: Industry-leading smart contract security services where Cyfrin's security engineers perform detailed code analysis to identify vulnerabilities and enhance protocol security. Revenue generated through professional service fees based on codebase complexity and scope.
- Competitive Audits Platform (CodeHawks): Protocols and organizations host competitive audit contests on the CodeHawks platform. Revenue generated through platform fees and contest organization services. Security researchers earn rewards based on severity of findings, with Cyfrin taking a platform cut.
- Blockchain Developer Education (Updraft): Online courses and certifications for blockchain development and smart contract security. While many courses are free, premium certifications and advanced programs generate revenue.
- Bug Bounties and Research Tools: Bug bounty programs and security research platform access (Solodit). Researchers can earn rewards for finding vulnerabilities in competitive audits and bounty programs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Quote-based pricing tailored to codebase complexity and scope |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels11 records
Cyfrin product offering
Product offeringCore offering
Cyfrin performs private smart contract security audits for blockchain protocols and operates the CodeHawks competitive audit marketplace where security researchers compete to identify vulnerabilities. Surrounding the audit services, Cyfrin runs the Updraft blockchain developer education platform with Solidity and Foundry courses and certifications, the Solodit open-source vulnerability research database, and the Aderyn Solidity static analysis tool.
Product overview
Cyfrin is a comprehensive blockchain security ecosystem combining industry-leading smart contract audits, developer education, and security research tools. The core offering is the Cyfrin audit platform providing both private audits and the CodeHawks competitive audit marketplace. Surrounding the core audit service are complementary platforms: Updraft for blockchain developer education and certifications, Solodit for aggregating security findings and audit reports, Aderyn for Solidity static analysis, and Foundry DevOps for deployment tooling. CodeHawks First Flights provides entry-level competition experience, while the Ambassador Program builds community. The ecosystem collectively serves hundreds of thousands of users, partners, and protocols, helping secure over $40B+ of DeFi TVL.
Differentiator
Problem solved
Functional benefit
Brands
- CodeHawks: Competitive smart contract audits platform helping protect protocols, users, and funds through crowdsourced security solutions.
- Updraft
- Solodit
- Aderyn
Products and services
- Cyfrin Smart Contract Audits Private smart contract security audit service where Cyfrin's security engineers perform detailed code analysis on protocol codebases to identify vulnerabilities, delivered to blockchain protocols and DApps as a professional service engagement.
- CodeHawks Competitive Audits Marketplace platform where protocols host competitive smart contract audit contests that hundreds of security researchers join to find critical vulnerabilities, with proprietary judging and triage systems and rewards based on the severity of findings.
- Updraft Online education platform offering free and paid courses in Solidity, Foundry, and Smart Contract Security and Auditing, with industry-recognized certifications for blockchain developers and security researchers.
- Solodit Security research platform aggregating vulnerabilities, audit findings, bounties, contests, and resources from multiple blockchain security firms into a single open-source database for Web3 security researchers.
- Aderyn Solidity static analysis tool that automatically analyzes smart contract codebases and identifies critical vulnerabilities in an easy-to-digest format for developers and security auditors.
- Foundry DevOps Open-source tooling that enables developers to interact with previous smart contract deployments inside a Foundry environment for testing and deployment workflows.
- Solidity Certification Industry-recognized certification program that verifies professional skills in Solidity smart contract development and security through rigorous examinations delivered via the Updraft platform.
- CodeHawks First Flights Entry-level smart contract auditing contests on CodeHawks that simulate real-world protocols and are designed to introduce new developers to security audits and build practical auditing skills.
Quantifiable outcome
- Over $40B+ of DeFi TVL secured across audited protocols
- +2 more outcomes
Companies that use Cyfrin
Customer profileNamed customers23 records
Segments5 records
Ideal customer profiles4 records
Cyfrin technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Cyfrin partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered major, standard, core and minor.
- LedgermajorLedger has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards as part of Ethereum's working group initiative to make blockchain transaction approvals human-readable rather than opaque hex data.
- MetaMaskmajorMetaMask has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards targeting the approval step responsible for billions in losses including the $1.5 billion Bybit hack.
- WalletConnectmajorWalletConnect has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards as part of major wallet ecosystem support for human-readable transaction approvals.
- TrezormajorTrezor hardware wallet has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards as part of Ethereum's security improvement initiative.
- FireblocksmajorFireblocks institutional custody platform has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards, supporting institutional-scale demand for clearer approval interfaces.
- CyfrinmajorCyfrin has backed the rollout of ERC-7730 and ERC-8176 clear-signing standards as part of Ethereum's working group to address blind signing vulnerabilities responsible for billions in losses.
- Boundary LabsstandardCyfrin completed a security audit for Boundary Labs' institutional stablecoin protocol USBD. Boundary Labs is a New York-based fintech company that raised $2 million in pre-seed funding led by Galaxy Ventures to launch USBD.
- Ondo FinancecoreCyfrin conducted security reviews for Ondo Finance's tokenized RWA products as part of their multi-layer safety architecture. Ondo underwent over 20 independent security reviews by firms including Spearbit, Cyfrin, Cantina, Zellic, and FYEO.
- Ethereum FoundationcoreCyfrin is listed as a participating audit firm in the Ethereum Foundation's $1 million audit subsidy program launched on April 14, 2026. The program falls under the Ethereum Foundation's Trillion Dollar Security Initiative and covers up to 30% of audit fees for Ethereum mainnet builders. More than 20 audit firms participate including Certora, Hacken, Immunefi, Quantstamp, and Zellic.
- CollegeDAOminorCollegeDAO is listed as an ambassador partner in Cyfrin's global ambassador program network, collaborating to bring blockchain education to academic institutions.
- Rocket PoolminorRocket Pool is listed as an ambassador partner in Cyfrin's global ambassador program network, collaborating on blockchain education initiatives.
- Uniswap FoundationminorUniswap Foundation is listed as an ambassador partner in Cyfrin's global ambassador program, collaborating to expand blockchain education and security awareness.
- Cambridge Blockchain SocietyminorCambridge Blockchain Society is listed as an ambassador partner collaborating with Cyfrin to bring blockchain education to Cambridge University students.
- Oxford University Blockchain ClubminorOxford University Blockchain Club is listed as an ambassador partner collaborating with Cyfrin on campus blockchain education initiatives.
- ZKsyncminorZKsync is listed as an ambassador partner in Cyfrin's global ambassador program network, collaborating on Layer 2 education and security initiatives.
- TrezorminorTrezor is listed as an ambassador partner in Cyfrin's global ambassador program, working together on blockchain security education.
- GMXminorGMX is listed as an ambassador partner in Cyfrin's global ambassador program network, collaborating on DeFi security education.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Cyfrin competitors and assessment
Company assessmentDirect peers
- Spearbit: Spearbit is a direct competitor offering both private and competitive smart contract audits. Co-listed with Cyfrin as a security reviewer on Ondo Finance's RWA products and frequently competes for the same protocol engagements.
- Cantina: Cantina runs a competitive audit marketplace similar to CodeHawks and is co-listed with Cyfrin as a security reviewer on Ondo Finance. Both firms compete for protocol-side audit contests and bounty programs.
- Zellic: Zellic is a smart contract security firm specializing in ZK circuits and protocol audits. Co-listed with Cyfrin on Ondo Finance's RWA security reviews and competes for the same high-end audit engagements.
- Code4rena: Code4rena pioneered the competitive audit contest model for Web3, directly comparable to Cyfrin's CodeHawks platform. Both operate crowdsourced audit marketplaces targeting the same protocol developer audience.
- Certora: Certora is a formal verification-focused smart contract security firm and fellow participant in the Ethereum Foundation's Trillion Dollar Security Initiative. Overlaps with Cyfrin on premium protocol audits requiring mathematical verification.
- Trail of Bits: Trail of Bits is a long-established blockchain security firm offering smart contract audits and security tooling. A broader incumbent that competes with Cyfrin on enterprise protocol audits and Ethereum Foundation engagements.
- FYEO: FYEO is a blockchain security and smart contract audit firm co-listed with Cyfrin on Ondo Finance's security reviews. Directly comparable as a specialist audit competitor in the DeFi and RWA security market.
Broad incumbents
- OpenZeppelin: OpenZeppelin combines smart contract audits with widely-used security libraries (OpenZeppelin Contracts) and developer tooling. A broader incumbent that overlaps with Cyfrin's audit services while also owning a large piece of the developer toolchain.
- Quantstamp: Quantstamp is an established smart contract security audit firm and fellow participant in the Ethereum Foundation's Trillion Dollar Security Initiative. A broader incumbent serving large enterprise protocols across multiple chains.
- Hacken: Hacken is a Web3 security auditor offering smart contract audits and broader crypto security services. Listed alongside Cyfrin in the Ethereum Foundation's audit subsidy program and competes for similar protocol engagements.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cyfrin social profiles
Digital presenceCyfrin financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cyfrin leadership team
Management profileNumber of profiles
Profiles5 records
Cyfrin funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cyfrin M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cyfrin
What does Cyfrin do?
Cyfrin performs private smart contract security audits for blockchain protocols and operates the CodeHawks competitive audit marketplace where security researchers compete to identify vulnerabilities. Surrounding the audit services, Cyfrin runs the Updraft blockchain developer education platform with Solidity and Foundry courses and certifications, the Solodit open-source vulnerability research database, and the Aderyn Solidity static analysis tool.
Is Cyfrin a public or private company?
Cyfrin is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cyfrin founded?
Cyfrin was founded in 2023. It employs 11 to 50 people.
Where is Cyfrin based?
Cyfrin is headquartered in Boston, United States, in the North America region.
How does Cyfrin make money?
Four revenue lines are on record. Private Smart Contract Audits are the primary driver. The others are competitive Audits Platform (CodeHawks), blockchain Developer Education (Updraft) and bug Bounties and Research Tools.
Who are Cyfrin's main competitors?
Direct peers on record are Spearbit, Cantina, Zellic, Code4rena, Certora, Trail of Bits and FYEO. Broad incumbents are OpenZeppelin, Quantstamp and Hacken.
Does Cyfrin have an API?
No public API is recorded for Cyfrin.
What industry is Cyfrin in?
Cyfrin's product category is Smart Contract Security. Its primary akta.pro industry code is FSAPAJAA, Smart Contract Auditing & Formal Verification, with a secondary code of FSAPABAI, Smart Contract Security Tooling (static/dynamic analysis, formal verification). Its NAICS code is 5132.