# SECBIT Audit NFTX is a platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs). Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) representing a claim on a random or specific asset from the vault. SECBIT Labs conducted an audit from November 14 to December 8, 2022, including an analysis of the smart contracts in 3 areas: code bugs, logic flaws, and risk assessment. The assessment shows that the peripheral smart contracts of NFTX V2 we audited have no critical security risks. The SECBIT team has some tips on logical implementation, potential risks, and code revising (see part 4 for details). {% file src="/files/9cmelvYPGYnF3mj31k8K" %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.nftx.io/main/smart-contracts/bug-bounty/secbit-audit.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.