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Is Shiba Inu a Scam?

SHIBEthereum
Not verified This record has not gone through deep verification and is not being monitored. The score is a dated snapshot — the token’s risk can change at any time.Own this token? Put it under verification →
Last checked Sep 4, 2026 · 2 audits on record
SummaryAI Copilot

This audit covers a standard ERC20 token implementation based on OpenZeppelin Contracts v2.x.

Read the full analysis
What raised the score
  • Ownership status UNKNOWN
  • Top-10 concentration > 50%
  • Liquidity not locked, but no owner/deployer address holds LP — market-depth risk, not rug risk
  • 1 Medium finding(s) from audit
Exact factors
  • Ownership status UNKNOWN (owner could not be resolved)
  • Top-10 concentration > 50% (64.2% total → 64.2% effective; 64.2% in EOAs, 0.0% in contracts — heavy)
  • Liquidity not locked, but no owner/deployer address holds LP — market-depth risk, not rug risk
  • 1 Medium 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

Our automated scanner reviewed Shiba Inu (SHIB) on Ethereum. 3 of 5 security checks passed — see the full breakdown below.

Security Checklist

as of audit · Sep 43 of 5 checks passed
Contract verifiedVerified
OwnershipUnknown
MintNo mint
Liquidity lockNot locked
UpgradeabilityFixed code

Holders

as of audit · Sep 4, 2026
64.2%Wallets35.8%Everyone else
64.2%Wallets35.8%Everyone else
WalletsEveryone elseBubble area = share of supply
64.2%of supply sits with the top 10 holders
  • Walletsanonymous holders, free to sell64.2%
  • Everyone elsethe rest of the supply35.8%
Effective concentrationwhat the score reads64.2%
How holder types affect the score

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.

Holder balances as recorded by the audit of Sep 4, 2026

Liquidity

as of audit · Sep 4$4.17M across 18 pairs
LP tokensNot locked

The LP tokens of the analysed pool are not locked or burned, so whoever holds them can withdraw that liquidity.

Analysed pool$2.88MShare of depth69.0%
Top-1 Unlocked Holder25.2%
Top-3 Unlocked44.8%
Unlocked LP held by
0xe151…1a310x805e…96650xc78b…70100xe70f…1d7b0x9f06…afed0x5bbc…d3b80x06e7…5c730x3c08…ccb70xdb6a…68940x93a0…2569

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

Security Findings

1 Medium3 Info
Medium

ERC20 approve Race Condition Vulnerability

The ERC20 standard's approve function is susceptible to a known front-running attack. If a user calls approve(spender, newAmount) while the spender is concurrently attempting to transferFrom an oldAmount, a malicious actor could front-run the newAmount transaction. This could allow the spender to spend both the oldAmount and the newAmount, effectively doubling their allowance for a brief period. While this is an inherent design flaw in the ERC20 standard, it can lead to unexpected token transfers.M-01

Issue

The ERC20 standard's approve function is susceptible to a known front-running attack. If a user calls approve(spender, newAmount) while the spender is concurrently attempting to transferFrom an oldAmount, a malicious actor could front-run the newAmount transaction. This could allow the spender to spend both the oldAmount and the newAmount, effectively doubling their allowance for a brief period. While this is an inherent design flaw in the ERC20 standard, it can lead to unexpected token transfers.

Fix

Implement and encourage the use of increaseAllowance and decreaseAllowance functions, which are designed to safely modify allowances by adding or subtracting from the current value. These functions prevent the race condition by ensuring that allowance changes are atomic relative to the current allowance. The provided OpenZeppelin ERC20 contract description mentions these functions as mitigations, but they are not present in the provided snippet.

Status

Unresolved

Info

Base ERC20 Implementation

The provided contract code represents a base implementation of the ERC20 standard. It includes core functionalities like transfer, transferFrom, approve, balanceOf, and totalSupply. However, it does not include mechanisms for token minting, burning, or any specific business logic. Its full functionality and security profile will depend on how it is extended by a derived contract.I-01

Issue

The provided contract code represents a base implementation of the ERC20 standard. It includes core functionalities like transfer, transferFrom, approve, balanceOf, and totalSupply. However, it does not include mechanisms for token minting, burning, or any specific business logic. Its full functionality and security profile will depend on how it is extended by a derived contract.

Fix

Ensure that any derived contracts that extend this base ERC20 implementation are thoroughly audited. Pay close attention to the implementation of minting, burning, or any custom logic, as these are common sources of vulnerabilities if not handled correctly.

Status

Unresolved

Info

Older OpenZeppelin Contracts Version

The contract uses pragma solidity ^0.5.0 and appears to be based on an older version of OpenZeppelin Contracts (likely v2.x). While these versions are generally robust, newer versions (e.g., v4.x, v5.x) offer updated patterns, gas optimizations, and potentially new features or security enhancements that have been developed since this version was released.I-02

Issue

The contract uses pragma solidity ^0.5.0 and appears to be based on an older version of OpenZeppelin Contracts (likely v2.x). While these versions are generally robust, newer versions (e.g., v4.x, v5.x) offer updated patterns, gas optimizations, and potentially new features or security enhancements that have been developed since this version was released.

Fix

Consider migrating to a more recent version of OpenZeppelin Contracts if possible. This would allow the project to benefit from the latest security best practices, gas efficiencies, and features. A migration would require careful testing and potentially adjustments to the codebase.

Status

Unresolved

Info

Missing increaseAllowance/decreaseAllowance Functions

The ERC20 contract description within the OpenZeppelin code explicitly mentions decreaseAllowance and increaseAllowance as functions added to mitigate the well-known issues around setting allowances (the approve race condition). However, these functions are not present in the provided ERC20 contract snippet. This means users are exposed to the approve race condition without the standard OpenZeppelin-provided safe allowance modification methods.I-03

Issue

The ERC20 contract description within the OpenZeppelin code explicitly mentions decreaseAllowance and increaseAllowance as functions added to mitigate the well-known issues around setting allowances (the approve race condition). However, these functions are not present in the provided ERC20 contract snippet. This means users are exposed to the approve race condition without the standard OpenZeppelin-provided safe allowance modification methods.

Fix

Implement the increaseAllowance and decreaseAllowance functions as provided in standard OpenZeppelin ERC20 implementations. This will provide users with safer methods to adjust allowances, reducing the risk associated with the approve function.

Status

Unresolved

Analysis

AI Copilotas of audit · Sep 4
Executive SummaryWhat the contract is and what the review found

This audit covers a standard ERC20 token implementation based on OpenZeppelin Contracts v2.x. The provided source code includes the IERC20 interface, SafeMath library, and the base ERC20 contract. The contract leverages well-audited components, contributing to a generally robust foundation. However, the inherent ERC20 approve function vulnerability and the base nature of the implementation are noted.

Technical10/10Low risk

The technical architecture (7.1) is a standard ERC20 token, utilizing battle-tested OpenZeppelin libraries like SafeMath, which effectively prevents common integer overflow/underflow vulnerabilities (7.2 Code Security). The implementation adheres to the ERC20 standard, ensuring broad compatibility. However, the approve function, a part of the ERC20 standard, is susceptible to a known front-running race condition (7.2 Code Security). The provided code is a base ERC20, meaning its full security relies on how it is extended by derived contracts.

Governance3/10High risk

The provided contract code is a base ERC20 token and does not include any specific governance mechanisms (7.5 Governance) or complex economic models (7.4 Economic). Therefore, there are no inherent governance or economic risks within this specific codebase. Any economic or governance considerations would arise from how this base token is integrated into a broader protocol.

Upgrades6/10Medium risk

The contract is a standard, non-upgradeable ERC20 implementation (7.7 Upgrades). It does not utilize any proxy patterns or other upgradeability mechanisms. Consequently, there are no upgrade-specific risks associated with this contract. Any future changes would require a new deployment and migration of assets.

Final RecommendationWhat to do about this score

It is recommended to implement the increaseAllowance and decreaseAllowance functions to provide safer alternatives for modifying allowances, mitigating the known ERC20 approve race condition.

For any derived contracts extending this base ERC20, ensure that all custom logic is thoroughly audited for reentrancy, access control, and other common vulnerabilities. Consider upgrading to a more recent version of OpenZeppelin Contracts for potential gas optimizations and updated security patterns.

Contract & Record

2 audits on record
TypeTokenMintERC20Token
NetworkEthereum
Token age5y
Contract0x95ad…c4ce
Deployer0xb8f2…fa08
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Audit History
  1. Jul 27, 202626Low
  2. Jul 26, 202675High

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

Frequently Asked Questions

Is Shiba Inu a scam?

Based on automated analysis, Shiba Inu scores 75/100 (Critical Risk) on our risk scale. No honeypot was detected, but always verify independently before investing.

Is Shiba Inu safe to buy?

Our scanner flagged a risk score of 75/100. Ownership has not been renounced, which is a risk factor. DYOR before purchasing any token.

Has Shiba Inu been audited?

The contract is open-source and verified on-chain. Verification is not the same as a full security audit. Use Quantum Audit's free tool to run a deeper analysis of the contract code.

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