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Is ProShares UltraPro Short QQQ - Backpack Securities Safe?

SQQQSolana
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Last checked Nov 6, 2026 · 1 audit on record
SummaryAI Copilot

The token exhibits significant centralization risks due to active Mint, Freeze, and Permanent Delegate authorities.

Read the full analysis
What raised the score
  • Owner can change any holder's balance
  • Freeze authority not revoked — any holder's account can be frozen
  • Mintable supply — no cap found, dilution unbounded
  • Permanent Delegate set
  • LP lock status UNKNOWN — the pool's LP could not be read; this pool is 72% of DEX liquidity
Exact factors
  • Owner can change any holder's balance (seize or credit tokens)
  • Freeze authority NOT revoked — any holder's account can be frozen
  • Mintable supply — no cap found, dilution unbounded
  • Permanent Delegate set (any holder's tokens can be moved or burned)
  • LP lock status UNKNOWN — the pool's LP could not be read; this pool is 72% of DEX liquidity

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

Security Checklist

as of audit · Nov 64 of 6 checks passed
Contract verifiedVerified
MintMintable
Liquidity lockUnknown
UpgradeabilityFixed code
HoneypotNone found
Buy / sell tax0% / 0%

Holders

as of audit · Nov 6, 20269,625 holders
14.7%Contracts6.2%27.8%DEX pools51.3%Everyone else
14.7%6.2%27.8%DEX pools51.3%Everyone else
ContractsWalletsDEX poolsEveryone elseBubble area = share of supply
48.7%of supply sits with the top 10 holders
  • Contractstreasury, vesting, bridge, staking14.7%
  • Walletsanonymous holders, free to sell6.2%
  • DEX poolsthe pools' own liquidity27.8%
  • Everyone else9,615 holders51.3%
How holder types affect the score

Solana holder types come from the account itself: a program-derived account (no private key — vaults, vesting, pools) counts as a contract; anything else is a wallet. DEX pools are matched to the token's own pools and left out of the concentration the score reads.

Holder balances as recorded by the audit of Nov 6, 2026

Liquidity

as of audit · Nov 6$322.6K across 30 pairs
LP tokensUnknown

Whether the LP tokens are locked could not be determined.

Analysed pool$231.3KShare of depth71.7%

Security Findings

3 Critical1 High1 Medium1 Low4 Info
Critical

Mint Authority Not Revoked

The mint authority is EzHCq2…KsUE. The holder of this key can mint unlimited new tokens, diluting all current holders to zero value.C-01

Issue

The mint authority is . The holder of this key can mint unlimited new tokens, diluting all current holders to zero value.

Fix

Verify on-chain that the mint authority is set to null before treating supply as fixed.

Status

Unresolved

Critical

Freeze Authority Not Revoked

The freeze authority is 2cVYpa…af4a. The holder can freeze any holder's account, blocking transfers and effectively confiscating funds.C-02

Issue

The freeze authority is . The holder can freeze any holder's account, blocking transfers and effectively confiscating funds.

Fix

Avoid tokens whose freeze authority is not revoked unless the issuer is a regulated stablecoin operator.

Status

Unresolved

Critical

Permanent Delegate Configured

2cVYpa…af4a has permanent delegate authority and can transfer any holder's tokens without consent.C-03

Issue

has permanent delegate authority and can transfer any holder's tokens without consent.

Fix

Treat this token as fully custodial.

Status

Unresolved

High

What the token's controller can do

The contract lets its controller — the freeze authority — mint new supply; change any holder's balance (seize or credit tokens); freeze or blacklist individual addresses; change the token's name, symbol and image. Nothing independent vouches for whoever holds them, so each is a live risk to holders.QA-POWERS

Issue

The contract lets its controller — the freeze authority — mint new supply; change any holder's balance (seize or credit tokens); freeze or blacklist individual addresses; change the token's name, symbol and image. Nothing independent vouches for whoever holds them, so each is a live risk to holders.

Fix

Check who holds these powers and whether a timelock or multisig stands between them and holders.

Status

Acknowledged

Medium

Balance Mutability Authority

GoPlus balance_mutable is True, indicating a balance-mutating authority can adjust user balances.M-01

Issue

GoPlus balance_mutable is True, indicating a balance-mutating authority can adjust user balances.

Fix

Review the token program configuration to identify the scope of balance mutation.

Status

Unresolved

Low

Mutable Metadata

Metadata is mutable, meaning the token name, symbol, or image can be changed post-launch.L-01

Issue

Metadata is mutable, meaning the token name, symbol, or image can be changed post-launch.

Fix

Verify metadata against off-chain expectations before trusting branding.

Status

Unresolved

Info

Who holds the supply

The ten largest holders own 48.7% of supply. Of that, 27.8% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 6.2% in wallets, 14.7% in other contracts. 9,625 holders in total.QA-HOLDERS

Issue

The ten largest holders own 48.7% of supply. Of that, 27.8% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 6.2% in wallets, 14.7% in other contracts. 9,625 holders in total.

Fix

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

Status

Acknowledged

Info

Not listed by any independent source

9,625 holders. Not listed by CoinGecko or any exchange GoPlus tracks. Nothing independent confirms who is behind this token, so every power its contract grants is scored at face value.QA-IDENTITY

Issue

9,625 holders. Not listed by CoinGecko or any exchange GoPlus tracks. Nothing independent confirms who is behind this token, so every power its contract grants is scored at face value.

Fix

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

Status

Acknowledged

Info

The market for this token

Liquidity $323K (DexScreener, all pools). 24h trading volume $2.5M (DexScreener, all pools).QA-MARKET

Issue

Liquidity $323K (DexScreener, all pools). 24h trading volume $2.5M (DexScreener, all pools).

Fix

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

Status

Acknowledged

Info

Asset class: Project token

A 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: the freeze authority. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $323K of DEX liquidity across 30 pools. Launch: 42 days of market history.QA-PROFILE

Issue

A 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: the freeze authority. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $323K of DEX liquidity across 30 pools. Launch: 42 days of market history.

Fix

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

Status

Acknowledged

Analysis

AI Copilotas of audit · Nov 6
Executive SummaryWhat the contract is and what the review found

The token exhibits significant centralization risks due to active Mint, Freeze, and Permanent Delegate authorities. While liquidity is sufficient for current volume, the presence of a permanent delegate allows for unauthorized fund transfers, and the mint authority permits unlimited supply inflation. Third-party registry data confirms these high-risk configurations.

Technical4/10Medium risk

The token utilizes the Token-2022 program, incorporating advanced extensions. 7.1 Architecture relies on a centralized authority model. 7.2 Code Security is not applicable as this is a standard SPL mint. 7.3 Access Control is highly permissive, with active Mint and Freeze authorities. 7.8 Operations are subject to the Permanent Delegate's ability to move user funds.

Governance2/10High risk

7.4 Economic factors show a healthy $237,991 liquidity pool with a 42-day history. 7.5 Governance is centralized, with top 10 holders controlling 13.38% of the supply. The volume/liquidity ratio of 5.11 indicates active trading without extreme wash-trading signals. Liquidity lock status remains unverified.

Upgrades1/10High risk

7.7 Upgrades are not applicable in the EVM sense, but 7.3 Access Control allows for metadata mutability. The token metadata can be changed by the owner at any time. No authority revocation has occurred, maintaining the current high-risk configuration.

Final RecommendationWhat to do about this score

Investors should exercise extreme caution due to the Permanent Delegate and Freeze Authority.

Verify the identity of the authority holders before interacting with the token, as these keys have total control over user balances and transfer capabilities. Monitor the mint address on-chain to check for future revocation of authorities. If the authorities are not renounced, the token should be treated as a custodial asset rather than a decentralized one.

Contract & Record

1 audit on record
TypeSPL Token-2022
NetworkSolana
Token age1mo
ContractSQQQAa…WaGE
Token-2022 Extensions
Permanent DelegateSet (any holder can be force-burned)
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Audit History
  1. Nov 6, 202675High

Score changes are recorded as dated snapshots — history is append-only and cannot be edited.

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