BIT5

Smart Contract Audit Report

Audit Summary

BIT5 is a new BEP-20 token on the Binance Smart Chain that pays static rewards to holders.

For this audit, we reviewed the project team's BIT5 contract at 0x537ac97b06183706a2caeb70bab62578c93d2f4b on the Binance Smart Chain Mainnet.

Audit Findings

Low findings were identified and the team should consider resolving these issues. In addition, centralized aspects are present.
Date: September 6th, 2022.

Finding #1 - BIT5 - Low

Description: The owner can use the lock() function to temporarily set ownership to address(0). Ownership is restored after the duration of time determined by the owner has passed and the unlock() function can be used.
Risk/Impact: The unlock() function has the potential to be used after ownership has been set to address(0), which will restore ownership to the original owner that initially created the ownership lock. This can be used in a nefarious way by the project team to restore ownership and change fee percentages.
Recommendation: We recommend that the unlock() function be modified to set the _previousOwner equal to address(0) at the end of the unlock() function to prevent it from being used more than once per lock.
Resolution: The team has not yet addressed this issue.

Contract Overview

• The total supply of the token is set to 1 billion $BIT5 [1,000,000,000].
• No mint or burn functions are accessible, though the circulating supply can be decreased by sending tokens to the 0x..dead address.
• At the time of writing this report, 100% of the total supply belongs to the owner.


• Trading must be enabled by the owner in order for all transfers to take place on the platform.
• The contract enforces a maximum transaction amount (determined by the owner) which imposes a limit to the number of tokens that can be transferred in a single transaction.
• There is a Tax fee and Charity fee on all transfers where neither the sender nor the recipient is excluded from fees.
• The tokens collected through the Tax fee are removed from the circulating supply; This serves as a frictionless fee redistribution that automatically benefits all token holders at the time of each transaction.
• The team must ensure that the Pair address is excluded from reflections to prevent theft-of-liquidity attacks.
• The tokens collected through the Charity fee are sent to the team's Charity wallet.
• The contract utilizes the SafeMath library to protect against overflows/underflows.
• The contract complies with the BEP-20 token standard.

Ownership Controls:

• The owner can modify the Tax fee and Charity fee to any percentages at any time.
• The owner can exclude and include accounts from transfer fees and reward distribution.
• The owner can pause/unpause trading at any time.
• The owner can update the maximum transaction amount to any value at any time.
• The owner can update the team's Charity wallet to any address at any time.
• The owner can withdraw all of the BNB in the contract at any time.

Audit Results

Inheritance Chart

Function Graph

Functions Overview

 ($) = payable function
 # = non-constant function
 
 Int = Internal
 Ext = External
 Pub = Public

 + [Int] IERC20 
    - [Ext] totalSupply
    - [Ext] balanceOf
    - [Ext] transfer #
    - [Ext] allowance
    - [Ext] approve #
    - [Ext] transferFrom #

 + [Lib] SafeMath 
    - [Int] add
    - [Int] sub
    - [Int] sub
    - [Int] mul
    - [Int] div
    - [Int] div
    - [Int] mod
    - [Int] mod

 +  Context 
    - [Int] _msgSender
    - [Int] _msgData

 + [Lib] Address 
    - [Int] isContract
    - [Int] sendValue #
    - [Int] functionCall #
    - [Int] functionCall #
    - [Int] functionCallWithValue #
    - [Int] functionCallWithValue #
    - [Prv] _functionCallWithValue #

 +  Ownable (Context)
    - [Pub] owner
    - [Pub] renounceOwnership #
       - modifiers: onlyOwner
    - [Pub] transferOwnership #
       - modifiers: onlyOwner
    - [Pub] geUnlockTime
    - [Pub] lock #
       - modifiers: onlyOwner
    - [Pub] unlock #

 +  BIT5 (Context, IERC20, Ownable)
    - [Pub]  #
    - [Pub] setPaused #
       - modifiers: onlyOwner
    - [Pub] paused
    - [Pub] name
    - [Pub] symbol
    - [Pub] decimals
    - [Pub] totalSupply
    - [Pub] balanceOf
    - [Pub] transfer #
    - [Pub] allowance
    - [Pub] approve #
    - [Pub] transferFrom #
    - [Pub] increaseAllowance #
    - [Pub] decreaseAllowance #
    - [Pub] isExcludedFromReward
    - [Pub] totalFees
    - [Pub] deliver #
    - [Pub] reflectionFromToken
    - [Pub] tokenFromReflection
    - [Pub] excludeFromReward #
       - modifiers: onlyOwner
    - [Ext] includeInReward #
       - modifiers: onlyOwner
    - [Ext] setCharityWallet #
       - modifiers: onlyOwner
    - [Pub] excludeFromFee #
       - modifiers: onlyOwner
    - [Pub] includeInFee #
       - modifiers: onlyOwner
    - [Ext] setTaxFeePercent #
       - modifiers: onlyOwner
    - [Ext] setCharityFeePercent #
       - modifiers: onlyOwner
    - [Pub] setMaxTxPercent #
       - modifiers: onlyOwner
    - [Prv] _reflectFee #
    - [Prv] _getValues
    - [Prv] _getTValues
    - [Prv] _getRValues
    - [Prv] _getRate
    - [Prv] _getCurrentSupply
    - [Prv] _takeCharity #
    - [Pub] claimTokens #
       - modifiers: onlyOwner
    - [Prv] calculateTaxFee
    - [Prv] calculateCharityFee
    - [Prv] removeAllFee #
    - [Prv] restoreAllFee #
    - [Pub] isExcludedFromFee
    - [Prv] _approve #
    - [Prv] _transfer #
    - [Prv] _tokenTransfer #
    - [Prv] _transferBothExcluded #
    - [Prv] _transferStandard #
    - [Prv] _transferToExcluded #
    - [Prv] _transferFromExcluded #

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What is a SourceHat Audit?

Typically, a smart contract audit is a comprehensive review process designed to discover logical errors, security vulnerabilities, and optimization opportunities within code. A SourceHat Audit takes this a step further by verifying economic logic to ensure the stability of smart contracts and highlighting privileged functionality to create a report that is easy to understand for developers and community members alike.

How Do I Interpret the Findings?

Each of our Findings will be labeled with a Severity level. We always recommend the team resolve High, Medium, and Low severity findings prior to deploying the code to the mainnet. Here is a breakdown on what each Severity level means for the project:

• High severity indicates that the issue puts a large number of users' funds at risk and has a high probability of exploitation, or the smart contract contains serious logical issues which can prevent the code from operating as intended.
• Medium severity issues are those which place at least some users' funds at risk and has a medium to high probability of exploitation.
• Low severity issues have a relatively minor risk association; these issues have a low probability of occurring or may have a minimal impact.
• Informational issues pose no immediate risk, but inform the project team of opportunities for gas optimizations and following smart contract security best practices.

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