ChatGPT audit shows major security flaw in memecoin

According to Coinsult’s security audit, the TWIF contract does not have mint, blacklist and setting fees functions. The owner cannot also use the token as a honeypot — a feature rendering users unable to sell their assets.

TWIF has already accumulated a total market cap of $7.7 million, per GeckoTerminal, and is currently trading at $0.0219 at the time of writing. However, its daily trading volume is sitting at only $26,200.

Ultimately, TWIF’s contract adheres to most of the standard ERC20 functionalities, its trustworthiness mostly depends on its owner due to the high level of control over the smart contract.

The single-owner design of the meme coin poses high centralization risks. In addition, it’s always highly suggested to do your own research before investing in cryptocurrencies, especially meme coins.

Disclaimer: This analysis is not definitive proof that TWIF could be a fraudulent asset, but it highlights the risks inherent to coding blockchain algorithms respective of security flaws.