The Korea Institute for Financial Security will develop a smart contract verification tool.

CoinFeed reported on May 11th that, according to Edaily, the Financial Security Institute (FSI) of Korea announced three major projects: developing a dedicated security verification tool for smart contracts and advancing the construction of a smart contract verification system and the training of digital asset professionals. This verification tool will automatically detect major vulnerabilities in smart contracts for digital asset services such as tokenized securities and stablecoins, focusing on common vulnerabilities in financial services such as reentrancy attacks, access permission errors, and missing collateral verification. It will also continuously update customized inspection standards based on the domestic financial regulatory environment. The FSI will also formulate verification procedures and standards covering the entire process of smart contract development, deployment, and operation, publish a "Smart Contract Security Guide" for member companies, and share its expertise in smart contract security through seminars and consultation meetings.