Summary

The owner of a contract can transfer ownership to an incorrect address effectively losing control of the contract.

Vulnerability Details

Ownable transfers ownership of a contract in a single step. The owner can mistakenly set the new address to an invalid address (zero address) or to the incorrect address because of a typo or any other reason.

Impact

The owner can brick functionality of contracts that inherit from Ownable if he uses transferOwnership to the 0 address or transferOwnership to the incorrect address.

Tools Used

Manual review

Recommendations

Use [Ownable2Step](Use Ownable2Step by OpenZeppelin instead.) by OpenZeppelin instead.