The fake deposit attack happening. Where the transfer value or the requested value is larger than what the user actually owns. Ethereum staking protocol Lido Finance is giving surety that both DAO and stake Ether tokens remain safe.
Hackers are continuously targeted and exploit a known security flaw in LDO’s token contract. Blockchain security firm SlowMist posted that Lido didn’t confirm any exploits but admitted that the security flaws were known and reassured that LDO and stETH funds continuously working on their safety so investors don’t have to worry.
SlowMist shows that LDO’s flawed token contract allows bad actors to facilitate ‘fake deposits’ attacks on exchange because LDO’s token has a major flaw that gives access to users to make transactions even though users don’t have enough funds for transactions.
The reports show that the fake deposit attacks came from LDO’s token contract making transfers where a larger value is available than what users actually have in their accounts. That triggers a false return resist to reverting the transaction.
The blockchain security firm said,
Token contract implementations and behaviors vary by project and to conduct comprehensive testing before integrating any new tokens.
Read More:
News Source: https://shorturl.at/asHTW
Image Source: https://shorturl.at/isxF5
About Author
