RATE Group | Ethereum bug causes integer overflow in tons of ERC20 smart contracts
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Ethereum bug causes integer overflow in tons of ERC20 smart contracts

25 Apr Ethereum bug causes integer overflow in tons of ERC20 smart contracts

Posted at 16:35h in Ethereum News by

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Blockchain security startup PeckShield has come across a critical vulnerability in multiple Ethereum smart contracts (based on the ERC20 protocol) which results in integer overflow – a common issue which occurs when computers deal with numeric values outside of the range that can be represented with a given number of bits.

The researchers have noted that their study found that the bug is present in a number of tokens, including UGToken, SMART, MTC, FirstCoin, GG Token, CNY Token, MESH and SMT tokens.

According to the researchers, the bug makes it possible for attackers to “transfer huge amount of tokens to an address with zero balance,” tacking the sender with huge fees in the meanwhile.

PeckShield remarks that while Ethereum has traditional mechanism in place to protect against such cases, it is of utmost importance to audit smart contracts thoroughly.

“A proper way to recover from these vulnerabilities and devastating effects requires…

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