Ethereum Smart Contract Bug Causes Suspension of ERC20 Deposits

25 Apr

Ethereum Smart Contract Bug Causes Suspension of ERC20 Deposits

Source: Crypto News
Ethereum Smart Contract Bug Causes Suspension of ERC20 Deposits

Ethereum smart contract bug

Several crypto exchanges have temporarily suspended ERC20 deposits due to the discovery of an Ethereum smart contract bug.

A Medium post from April 22nd announced the discovery. Labelled as the “batchOverflow” vulnerability, this Ethereum smart contract bug allows hackers to generate a large number of tokens from nothing and then deposit those tokens into a regular Ethereum address.

The initial discovery was of an extremely large transfer of BeautyChain, or BEC, tokens. Two large token transfers were completed, each being deposited into two different addresses. After further analysis of other contracts, the results showed …

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