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  • [SCA] CommonCentZ / ERC20 / Jan2024
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CommonCentZ

Audit name:

[SCA] CommonCentZ / ERC20 / Jan2024

Date:

Jan 30, 2024

Table of Content

→Introduction
→Audit Summary
→Document Information
→System Overview
→Executive Summary
→Risks
→Findings
→Appendix 1. Severity Definitions
→Appendix 2. Scope
→Disclaimer

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Introduction

We express our gratitude to the Commoncentz team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.

Commoncentz is an ERC-20 Fiat Token project. It has regular ERC-20 token functionalities with blacklist feature. Owner can add malicious users to blacklist so they will not be able to transfer their tokens.

titlecontent
PlatformEVM
LanguageSolidity
TagsERC-20,Fiat
Timeline05.01.2024 - 15.01.2024
Methodologyhttps://hackenio.cc/sc_methodology→

    Review Scope

    Repositoryhttps://github.com/commoncentz/commoncentz-contract→
    Commit13d8809

    Audit Summary

    Total9.2/10
    Security Score

    10/10

    Test Coverage

    0%

    Code Quality Score

    8/10

    Documentation Quality Score

    6/10

    11Total Findings
    1Resolved
    10Accepted
    0Mitigated

    The system users should acknowledge all the risks summed up in the risks section of the report

    Document Information

    This report may contain confidential information about IT systems and the intellectual property of the Customer, as well as information about potential vulnerabilities and methods of their exploitation.

    The report can be disclosed publicly after prior consent by another Party. Any subsequent publication of this report shall be without mandatory consent.

    Document

    NameSmart Contract Code Review and Security Analysis Report for Commoncentz
    Audited ByKaan Caglan, Seher Saylik
    Approved ByAtaberk Yavuzer
    Websitehttp://commoncentz.com/→
    Changelog08/01/2024 - Preliminary Report
    16/01/2024 - Final Report

    • Document

      Name
      Smart Contract Code Review and Security Analysis Report for Commoncentz
      Audited By
      Kaan Caglan, Seher Saylik
      Approved By
      Ataberk Yavuzer
      Website
      http://commoncentz.com/→
      Changelog
      08/01/2024 - Preliminary Report
      16/01/2024 - Final Report

    System Overview

    Commoncentz is a Fiat Token project with the following contracts.

    FiatTokenV1 - Simple ERC-20 like token that has a blacklist feature.

    FiatTokenV2 - Another token which has exactly same functionality with FiatTokenV1.

    Privileged roles

    • Owner: Has the ability to stop the marketplace and perform critical administrative functions.

    • MasterMinter: Can configure and remove minters, as well as manage the minting allowance.

    • Blacklister: Can blacklist or unblacklist addresses, controlling who can participate in the network.

    Executive Summary

    Documentation quality

    The total Documentation Quality score is 6 out of 10.

    • Functional requirements are not provided.

    • Natspec is sufficient.

    • Technical description is not provided.

    Code quality

    The total Code Quality score is 8 out of 10.

    • The code does not follow the Solidity best practices.

    Test coverage

    Code coverage of the project is 0% (branch coverage).

    • Coverage tool could not be run because there is no test case provided.

    Security score

    Upon auditing, the code was found to contain 0 critical, 0 high, 0 medium, and 1 low severity issue, leading to a security score of 10 out of 10.

    All identified issues are detailed in the “Findings” section of this report.

    Summary

    The comprehensive audit of the Customer's smart contract yields an overall score of 9.2. This score reflects the combined evaluation of documentation, code quality, test coverage, and security aspects of the project.

    Risks

    The black lister role in the project has the right to blacklist any user address and burn the tokens they have.

    Findings

    Code
    ―
    Title
    Status
    Severity
    F-2024-0361Non Disabled Implementation Contract
    fixed

    Low
    F-2024-0377Unpacked Variables Consuming Gas
    accepted

    Observation
    F-2024-0375Solidity version 0.8.20 might not work on all chains due to PUSH0
    accepted

    Observation
    F-2024-0363Style Guide Violation
    accepted

    Observation
    F-2024-0362Use Ownable2Step library instead of Ownable
    accepted

    Observation
    F-2024-0360Public Functions That Should Be External
    accepted

    Observation
    F-2024-0359Owner Can Renounce Ownership
    accepted

    Observation
    F-2024-0358Internal functions only called once can be inlined to save Gas
    accepted

    Observation
    F-2024-0357Avoid Using State Variables Directly in emit for Gas Efficiency
    accepted

    Observation
    F-2024-0356Custom Errors in Solidity for Gas Efficiency
    accepted

    Observation
    1-10 of 11 findings

    Identify vulnerabilities in your smart contracts.

    Appendix 1. Severity Definitions

    When auditing smart contracts, Hacken is using a risk-based approach that considers Likelihood, Impact, Exploitability and Complexity metrics to evaluate findings and score severities.

    Reference on how risk scoring is done is available through the repository in our Github organization:

    Severity

    Description

    Critical
    		Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation.

    High
    		High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation.

    Medium
    		Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category.

    Low
    		Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution, do not affect security score but can affect code quality score.

    • Severity

      Critical

      Description

      Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation.

      Severity

      High

      Description

      High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation.

      Severity

      Medium

      Description

      Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category.

      Severity

      Low

      Description

      Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution, do not affect security score but can affect code quality score.

    Appendix 2. Scope

    The scope of the project includes the following smart contracts from the provided repository:

    Scope Details

    Repositoryhttps://github.com/commoncentz/commoncentz-contract→
    Commit13d8809272e8f2e71552eb74b007716a5389cb77
    WhitepaperNot Provided
    RequirementsNot Provided
    Technical RequirementsNot Provided

    Contracts in Scope

    contracts
    v1
    FiatTokenV1.sol - contracts/v1/FiatTokenV1.sol
    v2
    FiatTokenV2.sol - contracts/v2/FiatTokenV2.sol

    Disclaimer