No check is performed to confirm that the new _owner
address is a valid (non-zero) address.
If the owner calls the transferOwnership
function and for some odd reason the new _owner
address is not valid. Ownership can be transferred into a dead or most likely in this case a zero address as there are no checks for that in the codepiece.
A loss of ownership and of funds.
Manual code review
A require or a revert statement should be added to make sure the address is valid.
e.g require(_owner != address(0), "New owner is the zero address");
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