Is MPP32 (M32) Safe? Smart Contract Security Analysis

Security Findings

1 Info

Info

No code-level findings — an SPL mint exposes no auditable program source

I-01This token is an SPL token mint, not a deployed program: there is no contract source code on-chain for a line-by-line review, so no code-level vulnerability could be identified either way. The assessment on this page therefore rests on holder concentration, which are read directly from chain state and from third-party risk registries.

IssueThis token is an SPL token mint, not a deployed program: there is no contract source code on-chain for a line-by-line review, so no code-level vulnerability could be identified either way. The assessment on this page therefore rests on holder concentration, which are read directly from chain state and from third-party risk registries.

FixRead the risk score breakdown below as the substance of this audit. For a code-level review, the token would need an accompanying verified program.

StatusAcknowledged

Category Ratings

TechnicalMedium6/10

The MPP32 (M32) token is implemented using the spl-token-2022 program. Its mint authority is revoked, ensuring no new tokens can be created, fixing the total supply at 999,786,235,735,063 raw units with 6 decimals. The freeze authority is also revoked, preventing any individual token accounts from being frozen. No Token-2022 extensions like a transfer hook or default account state frozen are active, indicating standard token transfer behavior.

GovernanceHigh2/10

The token exhibits moderate holder concentration, with the top 10 accounts holding 30.94% of the total supply, which does not indicate an immediate risk of market manipulation. Liquidity stands at $96,084 USD, which is sufficient for small to medium trades without severe slippage. The 24-hour volume of $100,275 USD results in a healthy Volume/Liquidity Ratio of 1.04, showing organic trading activity without signs of wash trading. The pair has been active for 138 days, providing a reasonable track record.

UpgradesMedium5/10

The token's mint and freeze authorities are both revoked, meaning no further changes can be made to the token's supply or account freeze status. The token does not utilize any Token-2022 extensions that would allow for upgradable features like transfer hooks or transfer fees. Furthermore, the metadata is immutable, ensuring that the token's name, symbol, and image cannot be altered post-launch.

Security Checklist

1/4 checks passed

Contract VerifiedFail

No Mint Function?

Liquidity LockedFail

Not a ProxyPass

HoneypotNoneBuy Tax0.0%Sell Tax0.0%

Liquidity Depth

$75.2K

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

5 factors

Ownership status UNKNOWN (owner could not be resolved)
Mint capability UNKNOWN (implementation ABI unreadable)
Contract source NOT verified
Top-10 concentration > 30% (32.7% total → 32.7% effective; 32.7% in EOAs, 0.0% in contracts — moderate)
Liquidity NOT locked (owner can withdraw — rug-pull risk)

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

Is MPP32 Safe?