Bitpara Smart Contract Audit

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Introduction

CoinFabrik was asked to audit the contracts for the Bitpara project. Firstly, we will provide a summary of our discoveries and secondly, we will show the details of our findings.

Summary

The contracts audited are from the Bitpara repository at https://github.com/sottile27/bitpara. The audit is based on the commit b584216d4d0261af9afb50a4a556f693f1763ac5 and updated to reflect changes at commit ffd8e4e5d3b274aa481949434eefa51ec1e5a078.

The audited contracts are:

  • bitpara.sol
    An ERC20 token that allows the owner to charge a configurable small fee.

The following analyses were performed:

  • Misuse of the different call methods: call.value(), send() and transfer().
  • Integer rounding errors, overflow, underflow and related usage of SafeMath functions.
  • Old compiler version pragmas.
  • Race conditions such as reentrancy attacks or front running.
  • Misuse of block timestamps, assuming anything other than them being strictly increasing.
  • Contract softlocking attacks (DoS).
  • Potential gas cost of functions being over the gas limit.
  • Missing function qualifiers and their misuse.
  • Fallback functions with a higher gas cost than the one that a transfer or send call allows.
  • Fraudulent or erroneous code.
  • Code and contract interaction complexity.
  • Wrong or missing error handling.
  • Overuse of transfers in a single transaction instead of using withdrawal patterns.
  • Insufficient analysis of the function input requirements.

Severity Classification

The security risk categories are evaluated according to the following classification:

  • Critical: The issue puts a large number of users’ sensitive information at risk, or is reasonably likely to lead to catastrophic impact for client’s reputation or serious financial implications for clients and users.
  • Medium: The issue puts a subset of users’ sensitive information at risk, would be detrimental for the client’s reputation if exploited, or is reasonably likely to lead to moderate financial impact.
  • Minor: The risk is relatively small and could not be exploited on a recurring basis, or is a risk that the client has indicated is low-impact in view of the client’s business circumstances.
  • Enhancement: The issue does not pose an immediate threat to continued operation or usage, but is relevant for security best practices, software engineering best practices, or defensive redundancy.

Detailed findings

Critical severity

No issues have been found.

Medium severity

Solidity version is too old

The contract is targeting Solidity compiler version 0.4.18.

That version was released in October 2017, since then the compiler has several releases fixing numerous bugs. We didn’t find any specific vulnerability that might affect the contract. 

We recommend to use a more recent version of the compiler. The latest version compatible with source code developed for solidity 0.4 is 0.4.26 which was released in April 2019. Nevertheless, we recommend to consider updating to 0.5 which has improved the language and supports new opcodes released in recent forks like Constantinople and Istanbul.

Minor severity

Owner can make arbitrary transfers

The function transferToOwner allows the owner to make a transfer from any user to himself.

The owner can already achieve a similar result by banning a user, burning his balance and minting new tokens. Since the account is banned the balance cannot be used anymore and burning it is reasonable. In the case of transferToOwner there is no explicit reason why the balance will be removed from the user.

We recommend to document under which circumstances the owner is allowed to arbitrarily remove balance from a user.

Solidity version is not fixed

The code allows compilation with source code compatible versions of solidity above 0.4.18. New versions sometimes introduce features and bug fixes that might change the expected behavior.

We recommend to always use a fixed version and only upgrade to a new version after testing it didn’t cause any regresion.

Use of deprecated constant modifier

Several functions are using the constant modifier which was deprecated by the developers of the solidity compiler.

We recommend using the view modifiers instead. From version 0.5 of Solidity the modifier is enforced using new opcode STATICCALL making contracts more secure.

The contract was update to use view modifier at commit ffd8e4e5d3b274aa481949434eefa51ec1e5a078.

Enhancements

Unnecessary extra checks

The function transfer in BasicToken, transferFrom in StandardToken and burn function in BurnableToken has redundant checks. First _values is checked against the available balance with require, and again when using SafeMath to do the subtraction operation.

We recommend to remove redundant checks since it will save some gas when deploying the contract and when users want to interact with it.

The unnecessary check were removed at commit ffd8e4e5d3b274aa481949434eefa51ec1e5a078.

Observations

After upgrading to at least solidity compiler v0.4.26 we recommend to apply the following changes.

  • Use constructor declaration. In solidity 0.4.18 the constructor is a function with the same name as the contract. This might cause problems because a simple mistake in the name will define the constructor as a normal function leaving the contract unitialized and allowing anyone to call it as a normal function after deployment.
  • Use emit keyword to generate events. In solidity 0.4.18 the syntax to generate an event is identical to a function call which is confusing and  requires the context to correctly understand what the contract is doing.
  • Replacing assert with require and adding a message to them. Some block explorers and wallets might display the error message before transaction allowing the user to correct before submitting.

For example:

Conclusion

The contracts are simple and straightforward to follow.

We found a medium severity issue which is that the contracts target version 0.4.18 of the solidity compiler released in October 2017. We suggest using version 0.4.26 which is source code compatible with code written for 0.4.

Disclaimer: This audit report is not a security warranty, investment advice, or an approval of the Bitpara project since CoinFabrik has not reviewed its platform. Moreover, it does not provide a smart contract code faultlessness guarantee.




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