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Is Toshi a Scam?

TOSHIBNB Chain
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Last checked Oct 20, 2026 · 1 audit on record
SummaryAI Copilot

The HypERC20 contract is an upgradeable cross-chain token bridge implementation.

Read the full analysis
What raised the score
  • Mintable supply — no cap found, dilution unbounded; held by mailbox: Multisig
  • Upgradeable proxy — the admin can replace the logic; admin: ProxyAdmin -> Multisig
  • Liquidity not locked
  • Code: Missing Payable Modifier
  • Code: State Variable Shadowing
Exact factors
  • Mintable supply — no cap found, dilution unbounded; held by mailbox: Multisig
  • Upgradeable proxy — the admin can replace the logic; admin: ProxyAdmin -> Multisig
  • Liquidity NOT locked (100% of the pool; this pool is 99% of DEX liquidity) — held by independent providers — market-depth risk
  • Code: Missing Payable Modifier (High, static analysis)
  • Code: State Variable Shadowing (High, static analysis)

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 Toshi (TOSHI) on BNB Chain. 3 of 7 security checks passed — see the full breakdown below.

Security Checklist

as of audit · Oct 203 of 7 checks passed
Contract verifiedVerified
OwnershipRetained
MintMintable
Liquidity lockNot locked
UpgradeabilityUpgradeable
HoneypotNone found
Buy / sell tax0% / 0%

Holders

as of audit · Oct 20, 202617,733 holders
33.3%Contracts56.8%DEX pools9.0%
33.3%Contracts56.8%DEX pools9.0%
ContractsWalletsDEX poolsEveryone elseBubble area = share of supply
91.0%of supply sits with the top 10 holders
  • Contractstreasury, vesting, bridge, staking33.3%
  • Walletsanonymous holders, free to sell0.9%
  • DEX poolsthe pools' own liquidity56.8%
  • Everyone else17,723 holders9.0%
Effective concentrationwhat the score reads14.2%
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 Oct 20, 2026

Liquidity

as of audit · Oct 20$398.5K across 3 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$393.1KShare of depth98.6%
Top-1 Unlocked Holder72.7%
Top-3 Unlocked100.0%
Unlocked LP held by
0xc324…5cab0xdd60…5879

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

Security Findings

2 High2 Medium4 Info
High

Missing Payable Modifier

The _dispatch function is marked as nonpayable but is intended to handle native currency transfers. This will cause transactions to revert if they include a msg.value.CD-01

Issue

The _dispatch function is marked as nonpayable but is intended to handle native currency transfers. This will cause transactions to revert if they include a msg.value.

Fix

Add the 'payable' modifier to the _dispatch function to correctly handle native currency transfers.

Status

Unresolved

High

State Variable Shadowing

The contract contains instances of state variable shadowing, where local or inherited variables hide state variables of the same name. This can lead to unexpected behavior and logic errors during execution.CD-02

Issue

The contract contains instances of state variable shadowing, where local or inherited variables hide state variables of the same name. This can lead to unexpected behavior and logic errors during execution.

Fix

Rename shadowed variables to ensure clarity and prevent accidental modification of the wrong state variables.

Status

Unresolved

Medium

Privileged Minting Capability

The functions transferRemote and handle allow for the creation of new tokens. This increases the total supply and dilutes existing holders, which is a significant economic risk if the mailbox or remote router is compromised.CP-01

Issue

The functions transferRemote and handle allow for the creation of new tokens. This increases the total supply and dilutes existing holders, which is a significant economic risk if the mailbox or remote router is compromised.

Fix

Implement strict validation on the origin of minting requests and consider adding a hard cap on the total supply that can be minted via the bridge.

Status

Unresolved

Medium

Liquidity not locked

0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 2 address(es) other than the owner/deployer. One of them — a wallet, 0xc324…5cab — holds 72.7% 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.QA-LIQUIDITY

Issue

0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 2 address(es) other than the owner/deployer. One of them — a wallet, 0xc324…5cab — holds 72.7% 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.

Fix

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

Status

Acknowledged

Info

Who holds the supply

The ten largest holders own 91.0% of supply. Of that, 56.8% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 0.9% in wallets, 33.3% in other contracts. 17,733 holders in total.QA-HOLDERS

Issue

The ten largest holders own 91.0% of supply. Of that, 56.8% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 0.9% in wallets, 33.3% in other contracts. 17,733 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

Identity verified by independent sources

Listed on CoinGecko as Toshi (TOSHI), market cap $45M, rank #493. 17,733 holders. Verified by: CoinGecko.QA-IDENTITY

Issue

Listed on CoinGecko as Toshi (TOSHI), market cap $45M, rank #493. 17,733 holders. Verified by: CoinGecko.

Fix

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

Status

Acknowledged

Info

The market for this token

Liquidity $399K (DexScreener, all pools). 24h trading volume $2.2M (CoinGecko, all markets, daily snapshot). 24h trading volume $180K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $0.00226 on 2025-01-26; the price is now 95.2816% below it.QA-MARKET

Issue

Liquidity $399K (DexScreener, all pools). 24h trading volume $2.2M (CoinGecko, all markets, daily snapshot). 24h trading volume $180K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $0.00226 on 2025-01-26; the price is now 95.2816% below it.

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: Meme token

A community token whose value comes from attention rather than a product. Being a meme is not a risk in itself: it is scored on exactly the same contract and market facts as any other token. The class itself adds no points; the contract and market facts decide the score. Basis: CoinGecko category: Base Meme. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-5 multisig. Code: upgradeable proxy. Fees: no buy or sell tax. Market: $399K of DEX liquidity across 3 pools. Launch: 474 days of market history.QA-PROFILE

Issue

A community token whose value comes from attention rather than a product. Being a meme is not a risk in itself: it is scored on exactly the same contract and market facts as any other token. The class itself adds no points; the contract and market facts decide the score. Basis: CoinGecko category: Base Meme. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-5 multisig. Code: upgradeable proxy. Fees: no buy or sell tax. Market: $399K of DEX liquidity across 3 pools. Launch: 474 days of market history.

Fix

Expect attention-driven volatility; the facts in this report say whether the contract itself can be used against holders.

Status

Acknowledged

Analysis

AI Copilotas of audit · Oct 20
Executive SummaryWhat the contract is and what the review found

The HypERC20 contract is an upgradeable cross-chain token bridge implementation. It utilizes a standard proxy pattern and integrates with an external mailbox system for interchain messaging. While the architecture follows established patterns for cross-chain interoperability, the implementation contains high-severity issues regarding state management and function modifiers that require immediate remediation.

Technical5/10Medium risk

The architecture leverages a robust modular design for cross-chain communication via the Mailbox pattern. 7.1 Architecture is well-structured for scalability, and 7.2 Code Security is generally high, though 7.3 Access Control contains critical flaws. Specifically, the use of nonpayable functions for value-transfer operations and state shadowing present significant risks to contract stability.

Governance3/10High risk

7.4 Economic and 7.5 Governance risks are centered on the minting capabilities inherent in the bridge mechanism. The ability to mint tokens via the handle function allows for potential supply inflation if the mailbox or remote router is compromised. Governance is currently centralized under a 3-of-5 multisig, providing a reasonable balance between security and operational agility.

Upgrades1/10High risk

7.7 Upgrades are managed via a Transparent Proxy pattern with a dedicated ProxyAdmin. This setup is industry-standard and allows for secure, controlled updates to the implementation logic. 7.8 Operations are supported by clear administrative functions for enrolling remote routers and configuring gas parameters.

Final RecommendationWhat to do about this score

Immediate remediation of the high-severity findings is required before further deployment or scaling.

Specifically, ensure all functions handling native currency are marked as payable and resolve all state variable shadowing to prevent logic errors. It is recommended to implement a circuit breaker or pause mechanism that can be triggered by the multisig in the event of a detected anomaly in the cross-chain messaging layer. Regular monitoring of the mailbox and remote router configurations is essential to ensure the integrity of the minting process.

Contract & Record

1 audit on record
TypeTransparentUpgradeableProxy
NetworkBNB Chain
Token age1y
Contract0x6a26…db3f
Deployer0xd476…65d0
Proxy Upgrade Controls
Proxy TypeEip1967 Transparent
AdminOZ ProxyAdmin → Multisig 3-of-5
ImplementationVerified source
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Audit History
  1. Oct 20, 202658Medium

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

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