VELVET Token Security: Trust Score 52, Grade B
Introduction
The VELVET token has a trust score of 52, a grade of B, and a scam probability of 48%, with a significant risk factor being the top 10 holders controlling 91.9% of the supply. The contract can mint new tokens, posing a supply inflation risk. It's currently trending, with many investors looking into its security.
What the scan found
Our on-chain security scan found that the VELVET token has a trust score of 52 and a trust grade of B. The scam probability is 48%, and there is no honeypot signal detected. The buy and sell tax percentages are both 0. The contract is mintable and freezable, but ownership has been renounced, and the contract source code is verified. The liquidity in USD is $22,861, with 0% of tracked liquidity locked. There are 12,476 holders, but the top 10 holders control 91.9% of the supply.
What this means for you
Considering the VELVET token, it's essential to be aware of the risks. The high concentration of token supply among the top 10 holders and the ability of the contract to mint new tokens pose significant risks. However, the verified contract source code and the large number of holders are positive signals. It's crucial to weigh these factors before making any investment decisions. For a comprehensive understanding of token security, refer to the full token security checklist.
This analysis is based on automated on-chain data and should not be considered as financial advice. For the full live scan of the VELVET token, visit /scan/0x8b194370825e37b33373e74a41009161808c1488. You can also use our free scanner tool at /tools?tab=rugshield to check the security of other tokens.