APXCOIN^®
Smart Contract Security Review

1. Engagement Context and Objective

This document presents a comprehensive security review of the APXCOIN® ERC-20 token smart contract deployed on Ethereum mainnet. The objective of this review is to evaluate the correctness, safety, and security properties of the token contract itself, independent of any presale logic, treasury management, vesting mechanisms, governance systems, or off-chain operational processes.

The audit focuses exclusively on the token’s Solidity implementation as verified on Etherscan. The intent is to identify any vulnerabilities, unintended behaviors, or privileged control paths that could materially affect token holders, counterparties, or downstream integrations relying on standard ERC-20 semantics.

This review is designed for third-party security assessment intake and does not include recommendations, roadmap guidance, or commercial commentary.

2. Scope Definition

The scope of this security review is strictly limited to the APXCOIN® ERC-20 token contract logic.

This scope definition is strict and intentional. Findings and conclusions apply only to the token contract reviewed.

3. Source Code Provenance and Verification

Etherscan identifies the token contract at 0x51f965522728b4ceb93df1e9c2df64a5df9230da as having deployed bytecode that matches the verified source code of contract address 0xbd4b6f3b2278d727ae740c5449aaed6a09788e7c. Etherscan additionally notes that constructor parameters may differ between the two deployments, which is standard behavior for contracts sharing identical runtime bytecode.

The audit relies on the verified Solidity source code published for the exact-match reference contract. All runtime behavior analyzed in this report derives directly from that source.

No obfuscated code, inline assembly, or unverifiable logic was present in the reviewed source.

4. Methodology

The audit was conducted using a deterministic, manual review methodology suitable for minimal-surface ERC-20 contracts.

The process included:

• Static source code inspection of APXCOIN.sol
• Review of inherited OpenZeppelin ERC20 and Ownable behavior
• Evaluation of constructor execution and state initialization
• Analysis of token supply invariants
• Review of ownership and access control semantics
• Identification of all externally callable functions
• Assessment of runtime behavior against ERC-20 expectations
• Review of compiler version and overflow protections
• Evaluation of external call surfaces and reentrancy exposure

No fuzzing or dynamic testing was required due to the absence of custom logic, arithmetic, or external integrations beyond standard ERC-20 flows.

5. Contract Architecture Overview

5.1 Token Definition and Parameters

The APXCOIN® token defines the following immutable parameters at deployment:

• Name: APXCOIN
• Symbol: APX
• Decimals: 18

The total supply is defined as 2,000,000,000 tokens, represented internally as 2,000,000,000 × 10¹⁸ units.

The entire supply is minted during contract construction and assigned to the owner address. No further supply adjustments are possible via this contract.

5.2 Inheritance Model

The APXCOIN® contract inherits directly from two OpenZeppelin contracts:

• ERC20
• Ownable

The ERC20 base provides all standard token functionality including balances, transfers, approvals, allowance tracking, and event emission.

The Ownable base provides ownership state and ownership transfer functionality but does not impose any behavior on token transfers unless explicitly used by the derived contract.

APXCOIN.sol does not override or extend any ERC20 transfer hooks or introduce additional modifiers.

5.3 Constructor Behavior

Upon deployment, the constructor performs the following actions in order:

1. Initializes the ERC-20 token with name “APXCOIN” and symbol “APX”
2. Sets the owner to the deploying address using OpenZeppelin Ownable
3. Mints the full fixed supply of tokens to the owner address

The constructor contains no conditional logic, external calls, or dependency on user-supplied parameters beyond the deploying address.

6. Detailed Security Analysis

6.1 ERC-20 Functional Correctness

The token contract relies entirely on OpenZeppelin’s ERC20 implementation without modification. As a result, the following behaviors are inherited unchanged:

• Balance accounting using mappings
• Transfer and transferFrom semantics
• Allowance approvals and spending
• Event emission for Transfer and Approval

No non-standard logic alters transfer behavior, introduces side effects, or restricts token movement. From a functional correctness standpoint, the token behaves as a canonical ERC-20 implementation.

6.2 Supply Integrity and Minting Controls

The contract mints tokens exactly once during construction via an internal _mint call. No public, external, or owner-restricted minting functions exist in APXCOIN.sol.

After deployment:

• The total supply cannot increase
• No inflation mechanism is present
• No rebasing or supply adjustment logic exists

The absence of post-deployment minting ensures that supply is immutable at the contract level.

6.3 Ownership Semantics and Privilege Surface

Although the contract inherits Ownable and establishes an owner, APXCOIN.sol itself does not declare any functions guarded by the onlyOwner modifier.

As a result:

• Ownership does not confer control over transfers
• Ownership does not allow minting or burning
• Ownership does not allow freezing or blacklisting
• Ownership does not allow confiscation of balances

The only owner-related actions possible are ownership transfer or renunciation, both of which are inherited from Ownable and do not affect token behavior. Ownership therefore exists for signaling and potential ecosystem integration purposes, not for token-level control.

6.4 Transfer Restrictions and Behavioral Constraints

The contract introduces no logic related to:

• Transaction taxes or fees
• Transfer gating or whitelisting
• Blacklisting or address blocking
• Pausing or emergency stops
• Anti-bot or time-based restrictions

All transfers are processed solely by the ERC20 base contract without additional checks or modifiers. This eliminates common honeypot and transfer-restriction vectors found in customized tokens.

6.5 Burn Mechanics

The APXCOIN® contract does not expose a public burn function. While OpenZeppelin’s ERC20 includes an internal _burn method, it is not made accessible through any public or external function in APXCOIN.sol. As a result, token burning cannot be initiated through this contract interface.

6.6 Upgradeability and Mutability

The contract does not implement or reference any proxy or upgrade pattern. Specifically, it does not include:

• Initializer functions
• Delegatecall-based logic routing
• UUPS or transparent proxy patterns
• External upgrade authorities

The contract is deployed as a standalone implementation with immutable runtime logic.

6.7 External Calls and Reentrancy Considerations

Standard ERC-20 transfers do not invoke external calls on recipient contracts. The APXCOIN® contract does not perform any low-level calls, delegatecalls, or external contract interactions beyond inherited ERC20 behavior. As a result, reentrancy risks are not applicable in the context of this token contract.

6.8 Arithmetic Safety and Compiler Behavior

The contract is compiled using Solidity version 0.8.30. Solidity 0.8.x enforces automatic overflow and underflow checks on arithmetic operations, eliminating entire classes of integer arithmetic vulnerabilities present in earlier Solidity versions. The absence of custom arithmetic in APXCOIN.sol further reduces exposure in this area. Compiler optimization was disabled. This affects gas efficiency but does not impact correctness or safety.

6.9 On-Chain State Observations

At the time of review, Etherscan indicates that:

• The reviewed deployment shows a single holder holding the full supply
• The exact-match reference deployment shows multiple holders

These observations reflect deployment and distribution state rather than code behavior and do not indicate a vulnerability within the token logic.

7. Security Properties and Invariants

Based on the reviewed source code, the following properties are guaranteed by the contract:

These invariants hold for the lifetime of the deployed contract.

8. Limitations and Assumptions

This review assumes that:

• The verified source code accurately represents the deployed runtime logic
• No malicious behavior is introduced via off-chain processes or external contracts
• Token integrations rely solely on standard ERC-20 behavior

9. Conclusion

The APXCOIN® ERC-20 token contract is a minimal, fixed-supply implementation using OpenZeppelin’s standard ERC20 and Ownable libraries. The contract’s logic is straightforward, with no custom transfer behavior, no hidden minting paths, no upgrade mechanisms, and no administrative controls affecting token movement.

From a smart contract security perspective, the token exhibits a low attack surface and predictable behavior consistent with widely accepted ERC-20 standards.

This review is limited strictly to the APXCOIN® token contract and does not extend to any associated ecosystem components.

10. Disclaimer

This document represents a security review of the APXCOIN® token contract based solely on publicly available verified source code and on-chain metadata. It does not constitute a guarantee of security or a certification of fitness for any specific purpose. Security outcomes depend on factors beyond the scope of this review, including operational practices, external integrations, and user behavior.

ANNEX A

Token Contract Security Representation APXCOIN® (ERC-20)

This annex accompanies third-party technical reviews and is intended for exchange compliance, legal, and risk assessment teams.