Blockchain technology and smart contracts are booming. By 2025 industry experts predict that 50% of all business will be conducted on the blockchain. But with great growth comes a wealth of new problems and vulnerabilities. One major issue that most new investors face is how to actually look at the smart contract code they are investing in, and they need tools to help them. If you’re an investor looking to get into the ICO market, there are some incredibly powerful tools out there that let you see — without a doubt — what you’re investing in. We’ve put together the top free smart contract audit tools to help you with your research.
Cyberscan is a convenient tool that helps investors to quickly gain insight into a given cryptocurrency token. The tool is very simple and easy to use, all you need to do is paste the smart contract address to the related field, click on the blockchain network from the dropdown, and press Search. Then you get to see a full report from the smart contract analysis, as well as some key indicators like if the contract ownership is present or renounced, if the contract is a proxy and if there is an audit or KYC attached to that contract amongst others. Finally, you can see the similarity of the code of your contract versus popular forks. This will help you understand if it’s minted from a specific platform and how unique it is.
Safescan is an AML (Anti Money Laundering) and KYC tool for wallets. The software is very easy to use, all you do is fill the address in the form and click “Search”. The tool will then start processing and running background checks on the address provided. It will review all the transactions of the address and how it interacted with various suspicious other wallets, then cross-reference it with CEX hot wallets, popular bridges, tornado cash, and other similar money laundering applications. Safescan also cross-checks the given wallet with a database that contains more than 30k blacklisted and suspicious wallets.
The final analysis report shows all the related findings to the user in order to help him understand some of the wallet's past history. It is a great tool to help investors check the past transactions of the project team to make sure there are not any suspicious activities.
Scamsniper is a tool developed by Coinsniper and helps you do a quick review of crypto tokens before investing. It has indicators like honeypot checks, liquidity checks and checks if there are any available audits for the token.
4. CoinTool Audit Contract
CoinTool Audit Contract runs some automated checks on a given smart contract and displays any potential security risk findings. The software checks a number of things such as if the token has anti-whale mechanisms, blacklist functions, mint functions, etc. The user can also download a pdf report with the findings.
Honeypot.is is another free tool that checks (I am sure you guessed it already) if a smart contract is a honeypot or not.
6. Token Sniffer
Token Sniffer gives you an automated free audit report with a score that is a measure of how well the token contract and characteristics meet the criteria for safety. This site also scans contracts for known scams, computes helpful token metrics, and maintains a list of scams.
7. BSC Check
BSC Check is yet another free software that gives you information on a given smart contract address. It has useful information about the holders of a given token that will give you a good idea on whether a project is really decentralised or not.
The smart contract space is new, exciting, and potentially quite profitable. But with great opportunity comes great risk — and in the world of cryptocurrency, that risk can be both financial and reputational. The good news? Investors can use the resources we’ve identified above to familiarize themselves with this new technology and make better decisions in the process.
These free smart contract audit tools and software will help investors make more informed decisions about their investments but are not by no means a replacement for an actual smart contract audit. If you are looking for an extensive and thorough smart contract audit by a respected audit firm don’t hesitate to reach out to us.