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  • [SCA] World Mobile Token / Ethereum WMT / Jan2024

World Mobile Token

Audit name:

[SCA] World Mobile Token / Ethereum WMT / Jan2024

Date:

Feb 27, 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 World Mobile Token team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.

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

The World Mobile Token is an ERC20 token that incorporates an 'Access Control' framework for centralized minting and burning control and caps its total supply at 2 billion units. This token is equipped with a burn function and adheres to the EIP 712 standard through OpenZeppelin's ERC20Permit. Its multi-chain bridging capabilities are facilitated by LayerZero's OFT Adapter, which is compatible with both EVM and non-EVM chains. A distinctive aspect of this token is its 6-decimal representation, a deviation from the standard 18 decimals in ERC20 tokens, chosen to accommodate its interoperability features.

Further enhancing its versatility, the token is designed to work with a variety of bridging solutions beyond LayerZero's OFT adapter. This is accomplished through the implementation of locking mechanisms as well as specialized roles for burning and minting, thus supporting a comprehensive burn-mint bridging strategy.

titlecontent
PlatformEVM
LanguageSolidity
TagsERC20, OFT
Timeline25/01/2024 - 26/02/2024
Methodologyhttps://hackenio.cc/sc_methodology→

    Review Scope

    Repositoryhttps://github.com/worldmobilegroup/ethereum-wmt-contract/commits/main/→
    Commit95b3533

    Audit Summary

    Total10/10
    Security Score

    10/10

    Test Coverage

    100%

    Code Quality Score

    10/10

    Documentation Quality Score

    10/10

    6Total Findings
    6Resolved
    0Accepted
    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 World Mobile Token
    Audited ByGiovanni Franchi
    Approved ByTurgay Arda Usman
    Changelog26/01/2024 - Initial report
    27/02/2024 - Final report

    • Document

      Name
      Smart Contract Code Review and Security Analysis Report for World Mobile Token
      Audited By
      Giovanni Franchi
      Approved By
      Turgay Arda Usman
      Changelog
      26/01/2024 - Initial report
      27/02/2024 - Final report

    System Overview

    World Mobile is an ERC-20 token designed to fit different chains and it is composed by the following contracts:

    World Mobile Token  —  ERC-20 token that implement EIP 712, is burnable and capped. It also implements roles for minting and burning functionalities.

    It has the following attributes:

    • Name: WorldMobileToken

    • Symbol: WMTX

    • Decimals: 6

    • Total supply: 2b tokens.

    OFT Adapter —  a contract that enables multi-chain bridging of an already deployed ERC20 contract.

    Privileged roles

    • The admin of the contract can arbitrarily mint new tokens until the max cap is reached.

    • The admin of the contract can arbitrarily assign burning and minting roles.

    • The admin of the contract can arbitrarily transfer or renounce to the contract admin roles.

    • Addresses with minting permission can can arbitrarily mint new tokens until the max cap is reached.

    Executive Summary

    Documentation quality

    The total Documentation Quality score is 10 out of 10.

    • Functional requirements are provided.

    • Technical requirements are provided.

    Code quality

    The total Code Quality score is 10 out of 10.

    • The code adheres to best practises.

    • NatSpecs are provided.

    Test coverage

    Code coverage of the project is 100% (branch coverage).

    • Code coverage is not required under 250 locs.

    Security score

    Upon auditing, the code was found to contain 0 critical, 1 high, 0 medium, and 0 low severity issues, 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 10. This score reflects the combined evaluation of documentation, code quality, test coverage, and security aspects of the project.

    Risks

    This audit report focuses exclusively on the security assessment of the contracts within the specified review scope. Interactions with out-of-scope contracts are presumed to be correct and are not examined in this audit. We want to highlight that Interactions with contracts outside the specified scope, such as:

    ./contracts/WorldMobileToken.sol

    ./contracts/WorldMobileTokenOftAdapter.sol

    have not been verified or assessed as part of this report.

    While we have diligently identified and mitigated potential security risks within the defined scope, it is important to note that our assessment is confined to the isolated contracts within this scope. The overall security of the entire system, including external contracts and integrations beyond our audit scope, cannot be guaranteed.

    Users and stakeholders are urged to exercise caution when assessing the security of the broader ecosystem and interactions with external contracts. For a comprehensive evaluation of the entire system, additional audits and assessments outside the scope of this report are necessary.

    This report serves as a snapshot of the security status of the audited contracts within the specified scope at the time of the audit. We strongly recommend ongoing security evaluations and continuous monitoring to maintain and enhance the overall system's security.

    Findings

    Code
    ―
    Title
    Status
    Severity
    F-2024-0603Misused decimal precision
    fixed

    High
    F-2024-1051Solidity version 0.8.20 might not be supported in all chains due to push0 opcode
    fixed

    Observation
    F-2024-0611Non-Compliance with Naming Conventions for Contract and File Names
    fixed

    Observation
    F-2024-0606Unused inheritance
    fixed

    Observation
    F-2024-0605Large numeric literals should use underscores for readability
    fixed

    Observation
    F-2024-0602Floating pragma
    fixed

    Observation
    1-6 of 6 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/worldmobilegroup/ethereum-wmt-contract→
    Commit95b353351a9bca14712320f9639f4744880f3570
    WhitepaperN/A
    RequirementsN/A
    Technical RequirementsN/A

    Contracts in Scope

    contracts
    WorldMobileToken.sol - contracts/WorldMobileToken.sol
    WorldMobileTokenOftAdapter.sol - contracts/WorldMobileTokenOftAdapter.sol

    Disclaimer