GoPlus Warns Hello402 Risk: Unlimited Mint & Centralization
GoPlus’s Chinese community has flagged a critical Hello402 contract risk: the smart contract’s addTokenCredits function lacks MAX_SUPPLY checks, enabling infinite minting. The high-privilege admin can allocate unlimited H402 mint quotas and use the WithdrawDevToken function to mint all unassigned tokens at once, posing severe centralization threats. Though the project team announced WithdrawDevToken is reserved for private sale adjustments, ecosystem incentives, and profit allocation, these commitments lack on-chain enforcement, raising breach risks. Major exchange OKX is investigating Hello402 contract risk by tracking abnormal on-chain activity and may pursue legal action. To address this Hello402 contract risk, traders should monitor H402 supply closely, as unchecked minting and centralized control could distort market supply and token value.
Bearish
The disclosure of Hello402’s unlimited minting and centralized control vulnerabilities undermines token trust and supply integrity. Historically, similar smart contract flaws—such as unchecked mint functions—have led to rapid sell-offs and significant price declines when market participants anticipate overissuance. The OKX investigation amplifies negative sentiment, potentially triggering further sell pressure. In the short term, traders may liquidate positions to avoid newly minted tokens flooding the market. Over the long term, persistent centralization risks can erode project credibility, depress token demand, and limit listing opportunities on reputable platforms. Overall, these factors point to a bearish outlook for H402 trading dynamics.