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Is Coinbase Wrapped BTC Safe?

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Coinbase Wrapped BTC CBBTC
cbbtcf…iMij
Solana Not verifiedLast checked 3d ago 1 audit on record
DexScreener ↗
How is this score calculated? → Critical Risk
Executive SummaryAI Copilot

The Coinbase Wrapped BTC (cbBTC) SPL token mint presents critical security risks due to unrevoked Mint and Freeze authorities, which allow the respective key holders to mint unlimited tokens or freeze any holder's funds. Additionally, the top 10 holders control 64.98% of the supply, posing a concentration risk. While third-party registry data was available, specific holder distribution details beyond the top 10 were not.

2 Critical1 Medium1 Low
Volume 24h
$7.44M
Liquidity
$7.64M
Price
$80951.6700
Token Age
1y
Top 10 Holders
67.1%

Security Findings

2 Crit1 Med1 Low
Critical

Mint Authority Not Revoked

C-01The mint authority is CTQE6P…wy3p. The holder of this key can mint unlimited new tokens, diluting all current holders to zero value.
IssueThe mint authority is . The holder of this key can mint unlimited new tokens, diluting all current holders to zero value.
FixVerify on-chain that the mint authority is set to null before treating supply as fixed.
StatusUnresolved
Critical

Freeze Authority Not Revoked

C-02The freeze authority is DSFAkP…AVnz. The holder can freeze any holder's account, blocking transfers and effectively confiscating funds.
IssueThe freeze authority is . The holder can freeze any holder's account, blocking transfers and effectively confiscating funds.
FixAvoid tokens whose freeze authority is not revoked unless the issuer is a regulated stablecoin operator.
StatusUnresolved
Medium

Holder Concentration > 50%

M-01Top 10 token accounts hold 64.98% of supply. Coordinated sell-off would crash price; single-whale dumps are common in this range.
IssueTop 10 token accounts hold 64.98% of supply. Coordinated sell-off would crash price; single-whale dumps are common in this range.
FixAccount for the risk of significant price volatility due to concentrated holdings.
StatusUnresolved
Low

Mutable Metadata

L-01Token name, symbol, or image can be changed post-launch.
IssueToken name, symbol, or image can be changed post-launch.
FixVerify metadata against off-chain expectations before trusting branding.
StatusUnresolved

Category Ratings

TechnicalHigh2/10

The cbBTC token operates on the standard `spl-token` program with a total supply of 335,920,214,592 units and 8 decimals. Both the Mint Authority () and Freeze Authority () remain active, posing significant control risks (7.3 Access Control). The token is not balance-mutable, non-transferable, or default-frozen, indicating standard transfer behavior for existing accounts.

GovernanceHigh1/10

The token exhibits a significant holder concentration (7.4 Economic), with the top 10 accounts holding 64.98% of the total supply, which could lead to price volatility from large sell-offs. Liquidity is robust at $6,984,966 USD, and the 24-hour volume of $4,044,613 USD results in a normal Volume/Liquidity Ratio of 0.58, not indicating wash trading. The DEX pair has been active for 662 days, providing a reasonable track record (7.6 External).

UpgradesHigh3/10

The token's metadata is mutable (7.7 Upgrades), meaning its name, symbol, or image can be altered post-launch. Crucially, the Mint Authority and Freeze Authority are still enabled, allowing for potential future changes to supply and account states, which represents a critical upgrade risk. The token does not utilize Token-2022 extensions like transfer hooks or permanent delegates, simplifying its core functionality.

Security Checklist

1/4 checks passed
Contract VerifiedFail
No Mint Function?
Liquidity LockedFail
Not a ProxyPass
HoneypotNoneBuy Tax0.0%Sell Tax0.0%

Liquidity Depth

$16.92M across 30 pairs
Orca wpSOLanalysed$7.64M45.1%Orca wpUSDC$5.77M34.1%Meteora DLMMUSDC$2.68M15.8%Meteora DLMMSOL$219.2K1.3%Orca wpSOL$157.9K0.9%Meteora DLMMSOL$156.1K0.9%
Show 4 more pairsShow less
Meteora DLMMUSDC$82.2K0.5%Meteora DLMMUSDC$40.5K0.2%Meteora DLMMUSDC$29.2K0.2%Orca wpSOL$25.5K0.2%

The 20 remaining pairs hold $127.4K 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.

What Raised This Score

8 factors
  • Ownership status UNKNOWN (owner could not be resolved)
  • Mint capability UNKNOWN (implementation ABI unreadable)
  • Contract source NOT verified
  • Top-10 concentration > 50% (67.1% total → 67.1% effective; 67.1% in EOAs, 0.0% in contracts — heavy)
  • Liquidity NOT locked (owner can withdraw — rug-pull risk)
  • 2 Critical finding(s) from audit
  • 1 Medium finding(s) from audit
  • 1 Low finding(s) from audit

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

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