GoPlus: Hello 402 Contract Faces Risks of Unlimited Issuance and Centralized Manipulation

GoPlus Chinese community on X platform disclosed that the Hello 402 contract faces some hidden risks - the risks of unlimited issuance and centralized manipulation. The administrator address has extremely high permissions, controlling the minting and distribution of H402 tokens. For example, the addTokenCredits function allows the administrator to allocate H402 token minting shares to users without checking if it exceeds the MAX_SUPPLY total, creating a potential loophole for unlimited issuance. The redeemTokenCredits function allows users to mint H402 tokens based on their shares. The WithdrawDevToken function allows the administrator address to mint all undistributed shares at once, posing a high risk of centralized manipulation. The project team's declaration in X that the WithdrawDevToken function is only used for post-private placement 'token replenishment,' 'ecosystem incentives,' 'profit space,' etc., promises have not been specifically implemented at the contract level, posing a high risk of centralized breach of contract. Previously, OKX stated that it has launched an investigation into the abnormal behavior of Hello 402 and will continue to track on-chain evidence and reserve the right to take legal action.

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