Mey Network Info
Mey Network is an integrated blockchain ecosystem designed to bridge the gap between physical assets and the digital world. By combining the power of Meychain—a dedicated Layer 1 blockchain for Real-World Assets (RWAs)—and MeyFi, our decentralized nance platform, Mey Network enables seamless tokenization, trading, and management of assets in a secure, scalable environment.
TrustNet Score
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Real-Time Threat Detection
Real-time threat detection, powered by Cyvers.io,
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Security Assessments
Summary and Final Words
No crucial issues found
The contract does not contain issues of high or medium criticality. This means that no known vulnerabilities were found in the source code.
Contract owner cannot mint
It is not possible to mint new tokens.
Contract owner cannot blacklist addresses.
It is not possible to lock user funds by blacklisting addresses.
Contract owner cannot set high fees
The fees, if applicable, can be a maximum of 25% or lower. The contract can therefore not be locked. Please take a look in the comment section for more details.
Token transfer can be locked
Owner can lock user funds with owner functions.
Token cannot be burned
There is no burning within the contract without any allowances
Ownership is not renounced
The owner retains significant control, which could potentially be used to modify key contract parameters.
Contract is upgradeable
The contract uses a proxy pattern or similar mechanism, enabling future upgrades. This can introduce risks if the upgrade mechanism is not securely managed.
Scope of Work
This audit encompasses the evaluation of the files listed below, each verified with a SHA-1 Hash. The team referenced above has provided the necessary files for assessment.
The auditing process consists of the following systematic steps:
- Specification Review: Analyze the provided specifications, source code, and instructions to fully understand the smart contract's size, scope, and functionality.
- Manual Code Examination: Conduct a thorough line-by-line review of the source code to identify potential vulnerabilities and areas for improvement.
- Specification Alignment: Ensure that the code accurately implements the provided specifications and intended functionalities.
- Test Coverage Assessment: Evaluate the extent and effectiveness of test cases in covering the codebase, identifying any gaps in testing.
- Symbolic Execution: Analyze the smart contract to determine how various inputs affect execution paths, identifying potential edge cases and vulnerabilities.
- Best Practices Evaluation: Assess the smart contracts against established industry and academic best practices to enhance efficiency, maintainability, and security.
- Actionable Recommendations: Provide detailed, specific, and actionable steps to secure and optimize the smart contracts.
A file with a different Hash has been intentionally or otherwise modified after the security review. A different Hash may indicate a changed condition or potential vulnerability that was not within the scope of this review.
Final Words
The following provides a concise summary of the audit report, accompanied by insightful comments from the auditor. This overview captures the key findings and observations, offering valuable context and clarity.
Ownership Privileges
- The owner can set the signer's address.
- The owner can set the claim token address.
- The owner can withdraw the tokens and ETH from the contract.
Note - This Audit report consists of a security analysis of the ReferralNFT smart contract. This analysis did not include functional testing (or unit testing) of the contract’s logic. Moreover, we only audited the mentioned contract for the MeyNetwork team. Other contracts associated with the project were not audited by our team. We recommend investors do their own research before investing.
Files and details
Functions
public
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State variables
public
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Total lines
of code
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Capabilities
Hover on items
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Findings and Audit result
medium Issues | 2 findings
Acknowledged
#1 medium Issue
The owner can drain the tokens.
The contract contains a centralization vulnerability within its withdrawERC20 function. This owner-restricted function grants the unilateral ability to withdraw the entire balance of any ERC20 token held by the contract. Since the referral rewards are paid out using a specific claimToken, the owner can exploit this function to drain the entire reward pool at any time. This action would cause all subsequent attempts by users to call the claimTokens function to fail due to insufficient funds, effectively allowing a malicious or compromised owner to steal all available rewards and permanently disable the contract's core functionality.
Resolved
#2 medium Issue
Unrestricted Owner Control Over claimToken Parameter
The setClaimToken function introduces a centralization risk. First, it can be called by the owner at any time, allowing them to change the reward token for the entire system instantly. A malicious owner could exploit this by swapping the designated valuable token (e.g., USDC) for a worthless one, effectively breaking the reward promise to users while leaving the original funds locked in the contract. Second, the function fails to validate that the new address provided is an actual smart contract. An owner could accidentally or maliciously set the claim token to a regular wallet address (EOA), which would cause all subsequent calls to the claimTokens function to revert, permanently disabling the contract's core functionality and locking all rewards.
informational Issues | 2 findings
Pending
#1 informational Issue
Floating pragma solidity version.
Adding the constant version of solidity is recommended, as this prevents the unintentional deployment of a contract with an outdated compiler that contains unresolved bugs.
Pending
#2 informational Issue
Missing events arithmetic
It is recommended to emit all the critical parameter changes.