BRICS Token Smart Contract Audit Report by Callisto Network

BRICS Token Security Audit Report

Are Your Funds Safe?

Our expert team at Callisto Network has conducted an in-depth security audit of the BRICS Token smart contract. This audit aims to ensure the security of your funds by identifying and assessing any potential vulnerabilities. Here, we present our findings:

Total Finding(s)

0 - Hight severity issue(s)

0 - Medium severity issue(s)

0 - Low severity issue(s)

0 note(s)

1 owner privilege(s)

Executive Summary

This report presents the results of the security audit conducted by the Callisto Network Security Department on the BRICS Token smart contract in September 2023. It analyzes the contract’s security posture in-depth and highlights any identified vulnerabilities.

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1. Scope of the Audit

The audit focused on the following contract:

2. Audit Findings

Our audit reported a total of O finding(s), categorized as follows:

0 high-severity issue(s).
0 medium severity issue(s).
0 low-severity issue(s).

In addition to these findings, our audit identified 1 additional points, detailed in the following sections:

0 note(s).
1 owner privilege(s).

2.1 Owner Privileges

Severity:

Owner Privileges.

Description:

The mint function allows the owner to issue an unlimited number of tokens.

Recommendation

Ownership must be given to a contract with multiple signatures to reduce the risk of compromising the owner’s private key.

3. Security Practices

Open-Source Contract: The contract's source code should be accessible for public scrutiny.

Bug Bounty Program: Initiating a bug bounty program post-audit for comprehensive security validation is recommended.

Public testing: The contract should undergo public testing to detect unforeseen bugs or issues.

Automated Anomaly Detection System: Not Implemented. Establishing a simple anomaly detection algorithm to monitor and respond to unusual activities is advised. For instance, the contract must temporarily suspend deposits if a large withdrawal is detected until approval by the contract owner or community.

Multi-signature Owner Account: A multi-signature setup for owner accounts is recommended for additional security layers.

Standard ERC20-Related Issues: Implemented. It is known that a smart contract, even if not designed to receive or hold tokens, can still inadvertently receive ERC20-token deposits, without the ability to reject them. Thus, it's recommended to incorporate a function that allows for the extraction of any number of such unintended tokens from the contract.

Crosschain Address Collisions: Transactions can be mistakenly sent to a contract's address on a different chain (ETH, ETC, CLO, etc..). To mitigate this, deploying a "mock contract" that allows token withdrawal or prevents fund deposits at the address is recommended. Please note native blockchain coin deposits can be rejected, but ERC20 token deposits cannot. The following source code can be used as a mock contract: extractor contract source code. When deploying a new contract using CREATE (0xf0) opcode, the new contract's address follows this scheme keccak256(rlp([sender, nonce])). Thus, the same address used on the main chain should be used to deploy the mock contract, with the transaction nonce matching that on the original chain. For example, if your main contract (address 0x010101) was deployed in your 2021st transaction, you need to increase your nonce of address 0x010101 to 2020 on the chain where your mock contract will be deployed. Then, your 2021st transaction can deploy your mock contract, which will share the same address as your mainnet contract.

4. Conclusion

The audited smart contract can be deployed. No security issues were found during the audit.

Users should pay attention to the owner’s privilege to mint an unlimited amount of tokens.

It is recommended to adhere to the security practices described in pt. 4 of this report to ensure the contract’s operability and prevent any issues that are not directly related to the code of this smart contract.

5. Previous Audit Report

https://gist.github.com/yuriy77k/f6217b4dfb2ae433a3e2743a6ce050b6.

6. CLO Coin Buyback & Burn Strategy

Callisto Security directly boosts CLO’s value for each smart contract audit performed by allocating a portion of the audit’s revenue for a CLO coin buyback and burn.

For this audit of BRICS Token:

Buyback Funds: 200 USD
CLO Coins Purchased: To be announced.

These purchased coins were subsequently burned, reducing CLO’s total supply and enhancing its value for all holders.

The buyback and burn strategy directly ties Callisto Security’s success to CLO’s value, adding another layer of utility for our community. For more details, see our GitHub.

About Callisto Network

Founded by Dexaran, co-founder of Ethereum Classic, Callisto Network is a blockchain platform that prioritizes security. We’ve conducted over 330 smart contract audits across platforms like Ethereum, Ethereum Classic, and EOS. In addition to our audits, we’ve developed the ERC 223 token standard and CallistoNFT standard, enhancements over existing standards that address flaws and offer new capabilities, further establishing us as industry leaders in crypto-security.