Core Contracts
Regnum Aurum Acquisition Corp
HardhatReal World AssetsNFT
77,280 USDC
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Submission Details
Severity: low
Valid

Missing Burn Functionality in RAACNFT

bshyuunn

01. Relevant GitHub Links

02. Summary

The website mentions that users can burn NFTs to redeem assets. However, the contract code does not provide a burn function. Instead, _update prevents sending NFTs to the zero address, effectively blocking any potential burning operation.

03. Vulnerability Details

The site explains that you can burn NFT tokens and actually receive assets for them.

Real estate is held in a corporate structure that is designed to protect Regna Minima NFT holders. Eligible users can burn the Regna Minima NFT to redeem the real estate title.

However, the actual NFT implementation not only doesn't have a burn function, but it also overrides the _update function, making it impossible to burn.

function _update(address to, uint256 tokenId, address auth) internal override(ERC721, ERC721Enumerable) returns (address) {
if (to == address(0)) revert RAACNFT__InvalidAddress();
return super._update(to, tokenId, auth);
}
​

04. Impact

Users cannot burn their NFTs to redeem real estate or other assets, contrary to the documentation and advertised functionality.

05. Tools Used

Manual Code Review and Foundry

06. Recommended Mitigation

Implement a burn function andadd a mitigation to prevent the mint function from re-minting tokens that have already been burned.

Updates

Lead Judging Commences

inallhonesty Lead Judge about 1 month ago
Submission Judgement Published
Validated
Assigned finding tags:

RAACNFT lacks redemption mechanism, preventing NFT holders from exchanging tokens back for their underlying asset value and forcing reliance on secondary markets

inallhonesty Lead Judge about 1 month ago
Submission Judgement Published
Validated
Assigned finding tags:

RAACNFT lacks redemption mechanism, preventing NFT holders from exchanging tokens back for their underlying asset value and forcing reliance on secondary markets

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