Is Coin98 (C98) Safe? Smart Contract Security Analysis

Security Findings

4 Med3 Info

Medium

Owner Can Mint New Tokens

CP-01The owner of the Coin98 token contract has the ability to create an unlimited number of new tokens using the `mint(address,uint256)` function. This means that the total supply of Coin98 tokens can be increased at any time, potentially diluting the value of existing tokens held by users.

IssueThe owner of the Coin98 token contract has the ability to create an unlimited number of new tokens using the `mint(address,uint256)` function. This means that the total supply of Coin98 tokens can be increased at any time, potentially diluting the value of existing tokens held by users.

FixToken holders should be aware that the project's owner can increase the token supply. If this control is not intended to be permanent, the project team should consider implementing a mechanism to renounce or remove the minting capability, or transfer it to a more decentralized governance model.

StatusUnresolved

Medium

Owner Can Pause All Token Transfers

CP-04The owner of the Coin98 token contract can stop all token transfers by calling the `freeze()` function. Conversely, they can re-enable transfers using the `unfreeze()` function. This centralized control allows the owner to halt all trading and movement of Coin98 tokens, which could severely impact liquidity and user access to their funds.

IssueThe owner of the Coin98 token contract can stop all token transfers by calling the `freeze()` function. Conversely, they can re-enable transfers using the `unfreeze()` function. This centralized control allows the owner to halt all trading and movement of Coin98 tokens, which could severely impact liquidity and user access to their funds.

FixToken holders should understand that the project's owner has the power to temporarily stop all token transactions. If this control is not intended for emergency use only, the project team should consider removing or decentralizing this pausing mechanism to ensure continuous token transferability.

StatusUnresolved

Medium

Liquidity not locked

QA-LIQUIDITY0.0% of the pool's LP is burned or time-locked. 99.2% is held, unlocked, by 8 address(es) other than the owner/deployer. One of them — a wallet, 0xc5bc…fc47 — holds 92.4% and can remove that share at once; who controls it is not visible on-chain, so it is not treated as an independent provider. Some pools are concentrated-liquidity (V3/V4) positions; shares above are by position as GoPlus reports them.

Issue0.0% of the pool's LP is burned or time-locked. 99.2% is held, unlocked, by 8 address(es) other than the owner/deployer. One of them — a wallet, 0xc5bc…fc47 — holds 92.4% and can remove that share at once; who controls it is not visible on-chain, so it is not treated as an independent provider. Some pools are concentrated-liquidity (V3/V4) positions; shares above are by position as GoPlus reports them.

FixCheck the lock's end date and beneficiary on the locker's own page before relying on it.

StatusAcknowledged

Medium

The market for this token

QA-MARKETLiquidity $340K (DexScreener, all pools). 24h trading volume $18.2M (CoinGecko, all markets, daily snapshot). 24h trading volume $228K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $6.42 on 2021-08-25; the price is now 99.7105% below it.

IssueLiquidity $340K (DexScreener, all pools). 24h trading volume $18.2M (CoinGecko, all markets, daily snapshot). 24h trading volume $228K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $6.42 on 2021-08-25; the price is now 99.7105% below it.

FixSize any position to the liquidity and daily volume shown — they set how much you can sell and at what price.

StatusAcknowledged

Info

Who holds the supply

QA-HOLDERSThe ten largest holders own 65.1% of supply. Of that, 2.4% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 62.8% in wallets, 0.0% in other contracts. 80,785 holders in total.

IssueThe ten largest holders own 65.1% of supply. Of that, 2.4% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 62.8% in wallets, 0.0% in other contracts. 80,785 holders in total.

FixWatch the largest wallets that are not exchanges, pools or locks — those are the ones that can move the price.

StatusAcknowledged

Info

Identity verified by independent sources

QA-IDENTITYListed on CoinGecko as Coin98 (C98), market cap $19M, rank #911. Traded on Binance. 80,785 holders. Verified by: CoinGecko, exchange listings.

IssueListed on CoinGecko as Coin98 (C98), market cap $19M, rank #911. Traded on Binance. 80,785 holders. Verified by: CoinGecko, exchange listings.

FixMatch the contract address against the project's official channels before trading.

StatusAcknowledged

Info

Asset class: Project token

QA-PROFILEA token issued by a project for use, governance or fundraising. Scored on its contract and market facts. The class itself adds no points; the contract and market facts decide the score. Basis: no class-specific evidence. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-5 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $340K of DEX liquidity across 24 pools. Launch: 1906 days of market history.

IssueA token issued by a project for use, governance or fundraising. Scored on its contract and market facts. The class itself adds no points; the contract and market facts decide the score. Basis: no class-specific evidence. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-5 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $340K of DEX liquidity across 24 pools. Launch: 1906 days of market history.

FixCheck the project's own documentation for what the token is used for; this report covers what the contract allows.

StatusAcknowledged

Category Ratings

TechnicalLow8/10

The Coin98 contract implements standard ERC-20 functionality and utilizes `Ownable` and `Pausable` patterns for administrative control. The internal `_transfer` function is consistently used for both `transfer` and `transferFrom`, ensuring unified logic (7.2 Code Security). However, the owner possesses the ability to mint an arbitrary amount of new tokens via `mint(address,uint256)`, which can dilute existing token holders (7.4 Economic). Additionally, the owner can halt all token transfers using `freeze()` and `unfreeze()`, impacting token liquidity and usability (7.3 Access Control).

GovernanceHigh1/10

The contract's ownership is managed by a 3/5 multisig, which enhances security by requiring multiple approvals for critical operations (7.5 Governance). Despite this, the owner retains significant centralized control over the token's economic parameters. Specifically, the owner can mint new tokens, potentially leading to inflation and value dilution, and can pause all token transfers, which could disrupt the token's utility and market stability (7.4 Economic, 7.3 Access Control).

UpgradesMedium4/10

The Coin98 contract is not designed as an upgradeable proxy, which eliminates the complexities and potential risks associated with upgrade mechanisms (7.7 Upgrades). As a non-upgradeable contract, any discovered vulnerabilities or desired feature enhancements would require a new contract deployment and a migration process, which can be costly and disruptive for users (7.7 Upgrades).

Security Checklist

2/5 checks passed

Contract VerifiedPass

Ownership RenouncedFail

No Mint FunctionFail

Liquidity LockedFail

Not a ProxyPass

HoneypotNoneBuy Tax0.0%Sell Tax0.0%

Holder Composition

65.1% in top 10

62.8% in wallets0.0% in contracts

Effective Concentration62.8%

Share held by contracts — treasury, vesting, bridge or staking — is discounted against share held by wallets when the score is computed: a contract cannot decide to sell the way an anonymous holder can, though it can still be drained or voted to sell. Effective concentration is the figure the risk score is actually calculated from.

Liquidity Depth

$340.1K across 24 pairs

Pancakeswap v2WBNBanalysed$329.0K Pancakeswap v3WBNB$4.9K BiswapWBNB$4.0K BaryonswapKRS$449 Pancakeswap v2XHM$320 BaryonswapAURA$318

Show 4 more pairsShow less

BabyswapUSDT$309 Pancakeswap v2grok2.0$297 DinosaureggsWBNB$123 BaryonswapCUSD$100

The 14 remaining pairs hold $304 between them and are not listed.

The risk score reads depth across every pair. The volume figure and the volume-to-liquidity ratio elsewhere on this page describe only the pair this audit analysed, so the two are not directly comparable.

LP Distribution

Top-1 Unlocked Holder92.4%

Top-3 Unlocked96.7%

Key Addresses

11 addresses

Deployer

0x433b…db3f

Unlocked LP Held By

0xc5bc…fc470x73fe…e24e0xa5f8…76520xae14…f6830x1480…965c0xda0a…d91f0x3353…671c0xedf8…14280xc1ad…539c0xa708…d515

No privileged address appears among these holders: the unlocked liquidity sits with independent providers, not with the deployer.

What Raised This Score

4 factors

Owner can pause all transfers
Mintable supply — no cap found, dilution unbounded
Liquidity NOT locked (100% of the pool; this pool is 97% of DEX liquidity) — held by independent providers — market-depth risk
Top-10 concentration > 50% (65.1% total → 62.8% effective; 62.8% in EOAs, 0.0% in contracts; 2.4% burned, locked or in pools excluded)

Each factor is an on-chain fact recorded at the time of this analysis. The score is computed from them by a deterministic function, so the same contract returns the same score for anyone who runs the audit. How scores are computed

Not Signed In

Is Coin98 Safe?

Security Findings

Owner Can Mint New Tokens

Owner Can Pause All Token Transfers

Liquidity not locked

The market for this token

Who holds the supply

Identity verified by independent sources

Asset class: Project token

Category Ratings

Security Checklist

Holder Composition

Liquidity Depth

LP Distribution

Key Addresses

What Raised This Score

Related Audits

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