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VELOREX Token Review

VELOREX

Date Started
2021-05-29
Active
Yes
Honeypot?
Possible
Smart Contract Code Structure
Obscure
Ownership Renounced?
No
Whales Spotted?
Yes
Over-all Ratings
Bad
Conclusion
High Risk of getting RUG-PULLED




VELOREX Token Review + Smart Contract Audit Summary



VELOREX started 2021-05-29 and it's currently active, based on the in-depth smart contract audit from different sources and upon checking it's website and other instances like the developers behind this project we can obviously tell based on it's over-all ratings which is Bad and has a HUGE RISK of getting RUG-PULLED.

The basis of our audit came from different areas like how professionally done was their website, their roadmap if it is being followed diligently, social media pages, mission and vision as well as their whitepaper that you can find on their website https://velorex.net, also we use verified and well established auditing tools like honeypot.is wherein this NFT was found out that it is a POSSIBLE honeypot trap wherein the smart contract dictates that you can buy but you cannot sell it in the future, although at some point there are others sneaky developers that enable the "selling" feature but after some time they disable it once lots of investors already dive-in.

We have a way of detecting that kind of trick and for this token VELOREX we can absolutely tell that it has a high possibility of being a honeypot trap, our basis lies on their Smart Contract Code Structure which is OBSCURE and contains malicious codes in nature, only scammers with unreadable and obscure codes have had the bad intentions to do something fishy in the long run, another thing to take note is if the ownership of the token is either renounced or not, for this token, the answer is No.

Another basis we are considering if a token is risky of getting rug pulled is if there are whales spotted on the holders, whales refers to those individuals or entities that hold large shares or percentage of the token VELOREX wherein they have the potential to manipulate price actions and volatility of the token VELOREX, so for this token the answer is Yes it has whales.

Therefore we conlude that this token has a High Risk of getting RUG-PULLED in the future, this is not a financial advise, it's always up to you to invest or not on this token, we are here only to give our insights based on the evidences and calculations we made on the smart contract of VELOREX. So Goodluck and have a safe and happy investing!

Checked using Professional Smart Contract Auditing Tools



Bscheck.eu: 0x7996cF3FBc0655131BD5a6D66e1ae2720f1de45E


Honeypot.is: 0x7996cF3FBc0655131BD5a6D66e1ae2720f1de45E




VELOREX Smart Contract Audit Details



Description:

Blockchain Development & Crypto Cards & Crypto ATM's & Utility focus.

 

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Audit details:

 

Audited project: VELOREX

Deployer address: 0x36266EBabECA70881e8473911a380dE270137615

Client contacts: VELOREX team

Blockchain: Binance Smart Chain

Project website: Not provided by the VELOREX team

 

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Contracts details

 

Token contract details for 24.05.2021.

Contract name: VELOREX

Contract address: 0x7996cF3FBc0655131BD5a6D66e1ae2720f1de45E

Total supply: 489129015255055350

Token ticker: VEX

Decimals: 9

Token holders: 3,498

Transactions count: 9,003

Top 100 holders dominance: 82.26%

Liquidity fee: 100

Tax fee: 400

Total fees: 7378486407387033

Uniswap V2 pair: 0x289087ca02e10b9a29e1267ef5c6792690b8f933

Contract deployer address: 0x36266EBabECA70881e8473911a380dE270137615

Contract’s current owner address: 0x36266ebabeca70881e8473911a380de270137615

 

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VELOREX token distribution

 

VELOREX token distribution

 

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Issues Checking Status

 

Issues Checking Status

 

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Security Issues

 

High Severity Issues

No high severity issues found.

 

Medium Severity Issues

No medium severity issues found.

 

Low Severity Issues

1. Out of gas

Issue:

❏ The function includeInReward() uses the loop to find and remove addresses from the _excluded list. Function will be aborted with OUT_OF_GAS exception if there will be a long excluded addresses list.

❏ The function _getCurrentSupply also uses the loop for evaluating total supply. It also could be aborted with OUT_OF_GAS exception if there will be a long excluded addresses list.

 

Recommendation:

Use EnumerableSet instead of array or do not use long arrays.

 

Owner privileges (In the period when the owner is not renounced)

❏ Owner can change the tax, burn and liquidity fee.

❏ Owner can change the maximum transaction amount.

❏ Owner can exclude from the fee.

❏ Owner can include & exclude from swapAndLiquify (swapAndLiquify won't be called)

❏ Owner can change uniswap router & pair

❏ Owner can lock and unlock. By the way, using these functions the owner could leave as owner even after the ownership was renounced.

 

Notes

❏ swapAndLiquify() function sends all swap balance to charity wallet.

 

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Conclusion

 

Smart contracts contain low severity issues. LP pair contract is not checked.

Liquidity locking details were not provided by the team.

 

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Source: https://github.com/TechRate/Smart-Contract-Audits/blob/main/VELOREX%20Full%20Smart%20Contract%20Security%20Audit.pdf

 

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