GoPlus Security Alert: WebKey DAO and NVB Bank Token Contracts Have Unlimited Minting Capabilities

Web3 security firm GoPlus Security has published an article stating that it conducted a security analysis of 11 tokens in the second round of the $4.4 million liquidity support program weekly competition on BNB Chain, and found that some of the tokens have potential risks.

Of the 11 tokens it listed, WebKey DAO and NVB Bank were marked as high-risk alerts, BabyMove was marked as a medium-risk alert, and the rest were marked as low-risk ratings (no obvious security risks were found).

GoPlus Security stated that the WebKey DAO token contract has unlimited minting capabilities, and there are still a large number of tokens that can be minted. This means that developers can create a large number of new tokens at any time, thereby significantly diluting the value of tokens held by users; the NVB Bank token also has unlimited minting capabilities, and there is no limit to token creation. The BabyMove contract makes external calls to an upgradeable proxy contract, which may lead to potential problems.

Token Risk Alert on @BNBCHAIN $4.4M Liquidity Support Program Round 2

Dear users, we have conducted a security analysis of 11 tokens from the BNB Chain $4.4M Liquidity Support Program Round 2 Weekly Competition and found potential risks in some of them. To protect your assets, please note the following risk warnings:

1. 0x194B302a4b0a79795Fb68E2ADf1B8c9eC5ff8d1F
🤖 Name: WebKey DAO ｜ wkeyDAO/USDT
🔴 High Risk Warning: This token contract has unlimited minting capabilities, with a large amount of tokens still available to be minted. This means the developers can create large quantities of new tokens at any time, significantly diluting the value of tokens you hold. This design is typically used for "pump and dump" schemes. Please exercise extreme caution.

2. 0x3595AfFf15A7ccaeeEb787Fd676f7A297319C24c
🤖 Name: NVB Bank | NVB/USDT
🔴 High Risk Warning: This token similarly has unlimited minting functionality with no cap on token creation. Developers can mint tokens without any restrictions, which is a classic high-risk characteristic that could lead to token value collapse.

3. 0x3ca729BFD4bbaD155f072752510226b37A5b7723
🤖 Name: AGON Agent | AGON/USDT
🟢 Risk Rating: Low: No obvious security risks detected.

4. 0xC468aCf451922712Cf45aF9801dF89578B0418b4
🤖 Name: DOODiPALS | DOODi/USDT
🟢 Risk Rating: Low: No obvious security risks detected.

5. 0x17480b68F3E6c8B25574e2db07BFEB17C8faa056
🤖 Name: HOPE | HOPE/USDT
🟢 Risk Rating: Low: No obvious security risks detected.

6. 0xF263cC32caED261A819713f3Dcc494A96c3e5111
🤖 Name: OnePiece | 1Piece/USDT
🟢 Risk Rating: Low: No obvious security risks detected.

7. 0x5C85D6C6825aB4032337F11Ee92a72DF936b46F6
🤖 Name: mubarak | mubarak / USDT
🟢 Risk Rating: Low: No obvious security risks detected.

8. 0x7d814b9eD370Ec0a502EdC3267393bF62d891B62
🤖 Name: Bubblemaps | BMP / USDT
🟢 Risk Rating: Low: No obvious security risks detected.

9. 0xF563E86e461dE100CfCfD8b65dAA542d3d4B0550
🤖 Name: COCO COIN | COCO / USDT
🟢 Risk Rating: Low: No obvious security risks detected.

10. 0xb994882a1b9bd98A71Dd6ea5F61577c42848B0E8
🤖 Name: World of Dypians | WoD/USDT
🟢 Risk Rating: Low: No obvious security risks detected.

11. 0x9767324c5228abFf7ca7E452B685a7Fa9533F1b4
🤖 Name: BabyMove ｜ BabyMove/USDT
🟡 Medium Risk Alert: This contract makes external calls to an upgradable proxy contract, which may lead to potential issues.

Security First 🪖