Audit name:
[SCA] GraFun | GraFun Contracts | Sep2024
Date:
Sep 25, 2024
Table of Content
Introduction
We express our gratitude to the GraFun team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.
The GraFun provides Token Sales protocol that is an Initial Coin Offering (ICO) solution, allowing users to buy and sell tokens, and eventually it deploys PancakeSwap pair for token.
Document | |
|---|---|
| Name | Smart Contract Code Review and Security Analysis Report for GraFun |
| Audited By | Grzegorz Trawinski |
| Approved By | Ataberk Yavuzer |
| Website | https://gra.fun/→ |
| Changelog | 20/09/2024 - Preliminary Report |
| 25/09/2024 - Final Report | |
| Platform | BNB Chain |
| Language | Solidity |
| Tags | Initial Coin Offering, ICO, Token Sales, ERC20, PancakeSwap |
| Methodology | https://hackenio.cc/sc_methodology→ |
Document
- Name
- Smart Contract Code Review and Security Analysis Report for GraFun
- Audited By
- Grzegorz Trawinski
- Approved By
- Ataberk Yavuzer
- Website
- https://gra.fun/→
- Changelog
- 20/09/2024 - Preliminary Report
- 25/09/2024 - Final Report
- Platform
- BNB Chain
- Language
- Solidity
- Tags
- Initial Coin Offering, ICO, Token Sales, ERC20, PancakeSwap
- Methodology
- https://hackenio.cc/sc_methodology→
Review Scope | |
|---|---|
| Repository | Hidden |
| Commit | 504724739624914f0664f6a55e9b466cc629c4c9, dev branch |
| Remediation commit | 1fab268195ea8fb94b2d921246fa450aa8f7addc |
Review Scope
- Repository
- Hidden
- Commit
- 504724739624914f0664f6a55e9b466cc629c4c9, dev branch
- Remediation commit
- 1fab268195ea8fb94b2d921246fa450aa8f7addc
Audit Summary
The system users should acknowledge all the risks summed up in the risks section of the report
Documentation quality
The protocol documentation was not provided.
Code quality
The code represents clear architecture of the solution.
No NatSpecs were provided.
Test coverage
Code coverage of the project is 73.53% (branch coverage).
System Overview
The Token Sales is an Initial Coin Offering (ICO) solution with the following contracts:
Token - a contract representing the ERC20 token that is a subject of the Initial Coin Offering. The contract instance is created by means of the TokenSaleFactory contract.
TokenSaleFactory - a contract that allows users to start new Initial Coin Offering, buy and sell tokens, redeem purchases after token sale's deadline. It also deploy the PancakeSwap instances.
TokenSaleHelpers - a library with a set of functions used by the aforementioned contracts.
Privileged roles
The owner of the TokenSaleFactory contract can upgrade the contract.
Potential Risks
Potentially Impossible Redemption: The protocol is designed to allow buy and sell tokens until the token sale period ends. The sale period ends either when PancakeSwap instance is deployed or deadline is reached. Whenever users transfer tokens between accounts, they lose possibility to redeem tokens. In the event of token sale period end without PancakeSwap instance deployment, users who did not sell tokens previously will likely encounter financial loss, as tokens held may have no economic value.
Single Points of Failure and Control: The project is fully or partially centralized, introducing single points of failure and control. This centralization can lead to vulnerabilities in decision-making and operational processes, making the system more susceptible to targeted attacks or manipulation.
Administrative Key Control Risks: The digital contract architecture relies on administrative keys for critical operations. Centralized control over these keys presents a significant security risk, as compromise or misuse can lead to unauthorized actions or loss of funds.
Single Entity Upgrade Authority: The token ecosystem grants a single entity the authority to implement upgrades or changes. This centralization of power risks unilateral decisions that may not align with the community or stakeholders' interests, undermining trust and security.
Flexibility and Risk in Contract Upgrades: The project's contracts are upgradable, allowing the administrator to update the contract logic at any time. While this provides flexibility in addressing issues and evolving the project, it also introduces risks if upgrade processes are not properly managed or secured, potentially allowing for unauthorized changes that could compromise the project's integrity and security.
Absence of Upgrade Window Constraints: The contract suite allows for immediate upgrades without a mandatory review or waiting period, increasing the risk of rapid deployment of malicious or flawed code, potentially compromising the system's integrity and user assets.
Findings
Code ― | Title | Status | Severity | |
|---|---|---|---|---|
| F-2024-6210 | Tokens transfer causes fund loss if token sale is not finished | fixed | High | |
| F-2024-6185 | Arbitrary referralLink can be provided to collect fee | accepted | Medium | |
| F-2024-6183 | Excessive protocol fee accounting possible | fixed | Medium | |
| F-2024-6209 | Lack of emergency stop mechanism | accepted | Low | |
| F-2024-6191 | Lack of two-step ownership transfer pattern | accepted | Low | |
| F-2024-6187 | The finishingTime parameter lacks input validation | fixed | Low | |
| F-2024-6193 | Lack of IERC20 transfer/transferFrom return value check | accepted | Observation | |
| F-2024-6189 | Lack of Monitoring on Key Functions | accepted | Observation | |
| F-2024-6186 | The RedeemBalance struct has typo | accepted | Observation | |
| F-2024-6182 | TokenSaleFactory implementation is not disabled | accepted | Observation |
Appendix 1. Definitions
Severities
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.
Potential Risks
The "Potential Risks" section identifies issues that are not direct security vulnerabilities but could still affect the project’s performance, reliability, or user trust. These risks arise from design choices, architectural decisions, or operational practices that, while not immediately exploitable, may lead to problems under certain conditions. Additionally, potential risks can impact the quality of the audit itself, as they may involve external factors or components beyond the scope of the audit, leading to incomplete assessments or oversight of key areas. This section aims to provide a broader perspective on factors that could affect the project's long-term security, functionality, and the comprehensiveness of the audit findings.
Appendix 2. Scope
The scope of the project includes the following smart contracts from the provided repository:
Scope Details | |
|---|---|
| Repository | Hidden |
| Commit | 5047247 |
| Remediation commit | 1fab2681 |
| Whitepaper | N/A |
| Requirements | N/A |
| Technical Requirements | N/A |
Scope Details
- Repository
- Hidden
- Commit
- 5047247
- Remediation commit
- 1fab2681
- Whitepaper
- N/A
- Requirements
- N/A
- Technical Requirements
- N/A