Ethereum Bug Gave Hackers the Power to Abuse Crypto Exchanges

A bug centering around the Ethereum-based GasToken that paved the way for abuse on cryptocurrency exchanges has been fixed.

How Did It Work?

The bug made it possible for hackers to force exchanges into paying very high fees, though at press time, it’s unclear which exchanges lacked the specific security means to prevent the problem from expanding. Additionally, the hackers could potentially exploit the bug to garner profits.

The issue was discovered by a group of cryptocurrency researchers, who later issued private messages to “as many digital exchanges as possible.” The platforms later implemented the appropriate security measures to disrupt the bug and end the threat once and for all.

You Need to Get Strict

Many exchanges, the researchers discovered, were not implementing appropriate limits on GasToken utilization or on how many tokens could be sent to random addresses. Thus, upon the completion of a transaction, the hackers could potentially force the exchanges into…

Read Full Story : Live Bitcoin News

2018-12-02 09:00:12

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