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- [SCA] SoundMoney | SoundMoney-Contracts | Dec2024
Audit name:
[SCA] SoundMoney | SoundMoney-Contracts | Dec2024
Date:
Dec 23, 2024
Table of Content
Introduction
We express our gratitude to the SoundMoney team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.
The BEZY contract is an ERC20-compliant token with burnable, pausable, permit, and voting functionality, leveraging OpenZeppelin's libraries for enhanced security and flexibility.
Document | |
|---|---|
| Name | Smart Contract Code Review and Security Analysis Report for SoundMoney |
| Audited By | Przemyslaw Swiatowiec |
| Approved By | Grzegorz Trawinski |
| Website | https://www.soundmoneyprotocol.xyz→ |
| Changelog | 23/12/2024 - Preliminary Report, 23/12/2024 - Final Report |
| Platform | Ethereum, REZO (saga.xyz) |
| Language | Solidity |
| Tags | ERC-20, Pausable, Permit |
| Methodology | https://hackenio.cc/sc_methodology→ |
Document
- Name
- Smart Contract Code Review and Security Analysis Report for SoundMoney
- Audited By
- Przemyslaw Swiatowiec
- Approved By
- Grzegorz Trawinski
- Changelog
- 23/12/2024 - Preliminary Report, 23/12/2024 - Final Report
- Platform
- Ethereum, REZO (saga.xyz)
- Language
- Solidity
- Tags
- ERC-20, Pausable, Permit
- Methodology
- https://hackenio.cc/sc_methodology→
Review Scope | |
|---|---|
| Repository | https://github.com/soundmoneyprotocol/bezy-tests→ |
| Commit | 562affe18cf6dc277f426dd96c234b7c07f6569a |
Review Scope
- Commit
- 562affe18cf6dc277f426dd96c234b7c07f6569a
Audit Summary
The system users should acknowledge all the risks summed up in the risks section of the report
Documentation quality
Functional requirements are provided.
Technical description is provided.
Code quality
The development environment is configured.
Test coverage
Code coverage of the project is 100% (branch coverage).
System Overview
BEZY is an ERC20 token with enhanced features for governance, security, and utility, built using OpenZeppelin libraries. It comprises the following contract:
BEZY — an ERC20 token that mints an initial supply of 27 billion tokens to the deployer. Additional minting is not allowed.
Attributes
Name: BEZY
Symbol: BZY
Decimals: 18
Total Supply: 27 billion tokens
The token includes features like burning, pausability, gasless approvals (EIP-2612), and voting rights, enabling governance and flexibility.
Privileged roles
The owner can:
Pause and unpause token transfers during emergencies.
Potential Risks
Centralized Initial Token Allocation: The full initial supply of 27 billion tokens is allocated to the deployer at the time of deployment. The team has clarified that subsequent token distribution is managed off-chain, following the predefined tokenomics plan.
Pausability Risk: The owner can pause and unpause all token transfers, which, while useful in emergencies, introduces a level of centralized control that may disrupt token activity if not used judiciously.
Findings
Code ― | Title | Status | Severity | |
|---|---|---|---|---|
| F-2024-7883 | Floating Pragma | fixed | 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. |
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.
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 | https://github.com/soundmoneyprotocol/bezy-tests→ |
| Commit | 562affe18cf6dc277f426dd96c234b7c07f6569a |
| Whitepaper | https://t10labs.gitbook.io/soundmoneyprotocol/bezy→ |
| Requirements | - |
| Technical Requirements | - |
Scope Details
- Commit
- 562affe18cf6dc277f426dd96c234b7c07f6569a
- Requirements
- -
- Technical Requirements
- -
Assets in Scope
Appendix 3. Additional Valuables
Additional Recommendations
The smart contracts in the scope of this audit could benefit from the introduction of automatic emergency actions for critical activities, such as unauthorized operations like ownership changes or proxy upgrades, as well as unexpected fund manipulations, including large withdrawals or minting events. Adding such mechanisms would enable the protocol to react automatically to unusual activity, ensuring that the contract remains secure and functions as intended.
To improve functionality, these emergency actions could be designed to trigger under specific conditions, such as:
Detecting changes to ownership or critical permissions.
Monitoring large or unexpected transactions and minting events.
Pausing operations when irregularities are identified.
These enhancements would provide an added layer of security, making the contract more robust and better equipped to handle unexpected situations while maintaining smooth operations.