Report Claims 34,000 Ethereum Smart Contracts Are Vulnerable to Bugs.

bitcoinpositive

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Crypington

full member

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Isn't this basically what happened with the infamous DAO hack that spawned ethereum classic? Bad contract code? It does not surprise that it is still going on, all these ERC20 ico, airdrops, and bounties ... It seems like people are rushing to get their ideas out there and perhaps not paying attention to detail.

JuniAiko

member

Activity: 126

Merit: 10

DOGE:DDvXm3ZkXSFeZF9YVaTWGNyBZzfwVf8nnh

I think this is one of the many big issues that Cardano is trying to re-solve.

The code for Cardano is built from the ground up such that bugs can be mathematically "discovered" and weeded out.

RDNX

member

Activity: 392

Merit: 11

Wow! This is insane. How come? Is this error purely from the smart contract dev? Or from Ethereum side?
Hopefully my token wasn't one of them.

MoonIsBlue

full member

Activity: 406

Merit: 111

Quote from: singlebit on February 23, 2018, 06:59:03 PM

Their technical report, which is currently undergoing peer review, suggests that millions of dollars in ether may be at risk from poorly coded smart contracts that contain a variety of bugs.

https://news.bitcoin.com/bad-code-has-lost-500-million-of-cryptocurrency-in-under-a-year/

“finding contracts that either lock funds indefinitely, leak them carelessly to arbitrary users, or can be killed by anyone”.
The most notorious case was the Parity bug which led to $168 million of ether being rendered permanently inaccessible.
If we think in a given time all that we have holds of many token that have bad code was appear on this issues?What should we do Embarrassed

Do they also state reasons for this such as difficulty writing with solidity?

BitcoinGuruOne

member

Activity: 364

Merit: 13

Yeah, this is huge problem. Many exchanges and smart contracts are low hanging fruit for hackers. Last year Parity wallet holding 300 million was destroyed:
https://twitter.com/devops199/status/927912053297303552

singlebit

sr. member

Activity: 518

Merit: 264

Their technical report, which is currently undergoing peer review, suggests that millions of dollars in ether may be at risk from poorly coded smart contracts that contain a variety of bugs.

https://news.bitcoin.com/bad-code-has-lost-500-million-of-cryptocurrency-in-under-a-year/

“finding contracts that either lock funds indefinitely, leak them carelessly to arbitrary users, or can be killed by anyone”.
The most notorious case was the Parity bug which led to $168 million of ether being rendered permanently inaccessible.
If we think in a given time all that we have holds of many token that have bad code was appear on this issues?What should we do Embarrassed

Topic: Report Claims 34,000 Ethereum Smart Contracts Are Vulnerable to Bugs. (Read 75 times)