[ad_1]
A bug focused on EthTeum-based GasToken has been corrected which has paved the way for cryptocurrency abuse.
How did it work?
The bug allowed hackers to force exchanges to pay very high commissions, although at the time of printing, it is unclear to which exchanges lacked specific means of security to prevent the problem from expanding. In addition, hackers could potentially exploit the error to make profits.
The problem was discovered by a group of cryptocurrency researchers, who later issued private messages for "as many digital exchanges as possible". Then the platforms implemented the appropriate security measures to stop the bug and end the threat once and for all.
You must become strict
Many exchanges, the researchers found, were not implementing appropriate limits on the use of GasToken or how many tokens could be sent to random addresses. Thus, upon completion of a transaction, hackers could potentially force trades to pay very large sums for the current calculation and thus deplete trading reserves. They could also mint new GasToken if they wanted (coinage is the process of creating entirely new coins for a profit).
Hackers could also impose high fees on users who do business with random accounts. On a positive note, not all exchanges were made vulnerable to the bug, as it was initially reported that only trades that took part in transactions based on Ethereum could be persecuted.
Very few could be interested
This was subsequently reduced to exchanges that initiated such transactions, not those that processed them, which resulted in a limited number of platforms that could be affected. The decentralized exchanges (DEX) and those that used smart contracts to process users' money transfers, for example, could not be attacked.
The bug was first discovered at the end of October. The researchers then went on to inform those who might be interested, advising that they implement "reasonable gas limits on all transactions" to defend themselves from the possibility of a threat. At the time of writing, exchanges have implemented the necessary defenses and the problem is now null.
This seems familiar
This is not the first time that Ethereum has opened its doors to malicious activity. At the beginning of this year, research staff discovered a vulnerability in Coinbase that allowed users to reward themselves with virtually unlimited quantities of token ether. Furthermore, a flaw in the Monero wallet system allowed users to steal XMR from digital exchanges.
To learn more about the recent bug, click here.
Will we continue to see problems like these in the future? Why or why not? Post your comments below.
Image courtesy of ShutterStock
Source link
