Summary

The current implementation of The Predicter protocol overly centralizes control in the hands of Ivan, the organizer. This overcentralization poses significant risks to the integrity and security of the protocol.

Vulnerability Details

Single Point of Failure: If anything happens to Ivan's account, such as loss of access or malicious attack, players' funds could be irretrievably lost. There is no backup mechanism or alternative authorized personnel to take over in such scenarios.

Inexperienced Developer: The README file indicates Ivan's lack of adept experience in building Web3 applications. This raises concerns about the robustness and security of the smart contracts and the protocol as a whole.

Impact

Financial Risk: Players’ funds are at risk of being permanently inaccessible if Ivan's account is compromised or if Ivan is unable to perform his duties as the sole organizer.

Lack of Trust: Potential participants may be deterred from joining the betting system due to the overcentralization and the potential for mismanagement.

Operational Inefficiency: All administrative tasks, including player approval and withdrawal of fees, depend on Ivan. This could lead to delays and inefficiencies in the operation of the protocol.

Recommendations

Decentralize Control: Introduce a multi-signature wallet or a decentralized governance mechanism to distribute control among multiple trusted parties. This reduces the risk of a single point of failure.

Implement Role-Based Access: Define and implement roles with specific permissions to ensure that no single individual has unchecked control over the protocol.