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Over $1 Billion Ethereum-Based Tokens Vulnerable to ‘Fake Deposit Exploit’

A number of university researchers published a study that demystifies the “fake deposit vulnerability” in Ethereum-based smart contracts. The findings show that over 7,000 tokens worth more than $1 billion built on top of Ethereum are vulnerable to two types of attacks that exploit smart contracts. Researchers from the University of Queensland, Beijing University of Posts and Telecommunications, Zhejiang University, and Peking University have published a paper that describes a vulnerability held by over 7,000 Ethereum-based tokens. Essentially, the tokens created have verification methods that are subpar to ERC20 contracts released after 2017. The vulnerability allows the token’s codebase to…

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$47 Million Worth Of ETH Was Already Sent To 2.0 Testnet Validators

$47 million worth of ETH or 150K tokens were sent to an ETH 2.0 testnet validator address while presenting the launchpad to help validators grasp all of the aspects about the upgraded version as we are reading more in the upcoming Ethereum news. The ETH2 launchpad is live now according to the Ethereum foundation and anyone that wants to participate can now learn how the network will work. $47 worth of ETH coins were sent to the upgraded testent validator address and now they can deposit into Medalla as well. Those who want to become validators in the upgraded version…

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