Name: Ares Protocol
SKU: ARES
Price: 0.0005869583543665556 USD

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ARES

JUST IN: $ARES on TRON claims the #1 spot for 24H trading volume on the network, with price rallying over 100%.

In a jawdropping announcement earlier today, team members from the Polkadot-powered Ares Protocol called out founders “Andy” and “Keric” on their underhand business dealings and unethical practices, claiming that the founder-duo held all the funds from investors for themselves instead of channeling them into development or marketing initiatives. 

Ares Protocol Team Slams Founders, Calls Out Unethical Behavior

The token contract has callable functions that manipulate the balance and are not standard token functions like transfer/transferFrom or burn/mint functionality.

Balance of the token can be manipulated in non-standard functions

Balance Manipulation

The token contract has a token minting functionality that can be called only by an external authority and can affect the actual price of the token, diluting the holders.

An external authority can Mint tokens

Centralized Mint

The token contract has approve functionality, using which an external authority can manipulate the allowances of the token holders.

An external authority can Approve tokens for holders

Unauthorized Token Approvals

The token contract's transfer or transferFrom functions have a hidden fee functionality that can be turned on. This may mean that the receiver address can get fewer or a different amount of tokens than passed within the transfer functions.

Hidden fee functionality included in transfers

Hidden fees

The token contract's transfer functionality includes checking the token sender address against a controlled blocklist, which may cause a transfer freeze for certain holders.

Transfers can be blocked for specific senders using Blocklist

Blacklist

The token contract has self-destruct functionality. This means the storage values, including balances, will be wiped after the contract self-destructs.

Self-destructing token contract

Selfdestruct

The amount emitted in the transfer event does not match the actual amount of the balance change. This can be used to misguide the blockchain indexers, user-facing applications and end users by showing them inconsistent transfer history and balances.

Token's transfer event does not match the actual balance change amount

Transfer event amount mismatch

The contract uses the proxy pattern to separate the main address from implementation, with the potential ability to change the main underlying logic.

Implementation of the contract potentially upgradable

Proxy (Upgradeable)

The token contract has a token burning functionality which can be called only by an external authority and can affect the balances of token holders.

An external authority can Burn holders' tokens

Centralized Burn

The token contract has at least one external call in its transfer functions. There is a possibility that these external calls may be used to alter the transfer flow, e.g. blocking the transfers or manipulating the amount of tokens being sent.

Transfer functionality is dependent on other contracts

External call in transfer

The token's approve function lacks approval event emission, which can cause problems with blockchain indexers and user-facing applications to show the approval history and state correctly.

Approve function does not emit the appropriate approval event

Approval event not emitted

The token contract has a pausing mechanism implemented and controlled by an external authority. This may mean token operations, such as transfers, can be paused.

Token operations can be Paused by an external authority

Pausable

The token contract's transfer functionality includes checks such as transfer pausing, cooldown period checks, big transfer amounts checks etc. This may cause a transfer freeze for certain holders.

Transfers can be blocked for specific senders using various checks

Blockable Transfer

The token's transfer functions lack transfer event emission, which can cause problems with blockchain indexers and user-facing applications not being able to show the transfer history and balances correctly.

Transfer functions don't emit transfer events

No Transfer event emitted

The transfer functions in the token contract have time-based checks. This can implement transfer cooldowns or even fully block token transfers.

Transfers can be Time-Constrained (cooldown periods)

Cooldown checks

The token contract's transfer or transferFrom functions have a basic fee functionality that can be turned on. This may mean that the receiver address can get fewer or a different amount of tokens than passed within the transfer functions.

Basic Fee functionality included in transfers

Basic Transfer Fee

The token contract's transfer functions have implemented whitelist functionality. This generally means that some token holders have privileges over others; a whitelist can also be used to block transfers for many token holders.

Whitelist-based functionality implemented in transfers

Whitelist

The token contract has asset sweeping (transferring out) functionality for the assets on its balance. While generally, the token contract itself should not hold any assets on its balance, this may impose a risk for users in case the contract is designed to receive tokens or native assets directly.

An external authority can Sweep (transfer out) native currency from the contract

ETH Balance Sweep

The token's contract does not fully implement all of the ERC20 standard's requirements.

Token is not fully compliant with the ERC20 standard

Not fully ERC20 compliant

The token's transfer functions use assembly code, there is a probability that this can be used to obfuscate the transferring logic.

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JUST IN: $ARES on TRON claims the #1 spot for 24H trading volume on the network, with price rallying over 100%.

Ares Protocol Team Slams Founders, Calls Out Unethical Behavior

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