Summary

The absence of a time-lock mechanism in the contract exposes the escrow process to potential security and fairness risks

Vulnerability Details

The contract immediately transfers the funds to the escrow contract upon its creation, without any time-lock mechanism. This means that the funds become immediately available for release to the seller.

Without a time-lock, the buyer does not have a defined period to inspect the services received before the funds are released. This poses a risk for the buyer as they may not have sufficient time to verify the quality and authenticity of the received items.

The absence of a time-lock also means there is no specific window for dispute resolution. If a dispute arises after the funds are transferred, it might be challenging to resolve the issue fairly and transparently.

Impact

the impact of not having a time-lock mechanism in the contract affects the fairness, security, and transparency of the escrow process. Implementing a time-lock mechanism is essential to provide a structured and secure escrow process, giving buyers ample time to inspect services, protecting them against potential risks, and facilitating fair dispute resolution.

Tools Used

manual

Recommendations

Implement Time-Lock Mechanism