NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Over 3,000 Ethereum Smart Contracts Contain Major Security Flaws

newsbtc
newsbtc
4 years ago
2 mins read
ethereum

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum smart contracts are hot technology as of right now. While many companies see merit in this technology, there are security issues a swell. Researchers discovered several vulnerabilities which put millions of Dollars at risk. This is worrisome news, although there is a positive side to it as well.

Security Flaws in Smart Contracts

There are many different aspects to smart contracts. Templates can be used, but any additional code is always a security risk. Considering how there are so many Ethereum-based contracts out there, it is good to know if they are secure or not. According to new research, the future isn’t looking all that bright as of right now.

Through a new approach to sniff out vulnerabilities, researchers aim to improve the security standards. Unfortunately, they already discovered over 3,000 vulnerable contracts in existence right now. These contracts have a combined value of nearly $6m at current Ether prices. If someone were to take advantage of these flaws, things can get out of hand pretty quickly.

The main problem is how smart contracts are used to manage other people’s money. While it sounds convenient, there is always a trade-off to be made. The fact existing contracts cannot be amended is a big problem. Especially if a security flaw is discovered, there is nothing to be done about it. For some reason, this is a major design flaw which never was much of an issue, until now.

Analyzing the Code is Difficult

Even though smart contracts are designed to simplify operations, their code is pretty complex. Every contract is written by a human coder, yet their input is difficult to analyze. As such, it can take months, if not years, until major security flaws come to light. The researchers explained they use a different approach to find flaws:

“Assume we put a few coins in the machine, and just start randomly pushing buttons hoping that the inner workings of the vending machine—which we have no knowledge about, springs and whatnot—eventually releases the latch so you can take the candy.”

By creating a private fork of the Ethereum chain, the researchers can execute permutations of interactions. As such, they can monitor these creations for abnormal behavior. It is not the most convenient approach, but it seems to work just far. No specific information regarding the nature of these flaws has been disclosed as of right now. Rest assured criminals are already probing for weaknesses by the time the information goes public.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 9

  1. lez says:
    7 years ago

    Source?

    Reply
  2. Sypher says:
    7 years ago

    just fud

    Reply
  3. wolfystrade says:
    7 years ago

    What happened to just good old digital currency, how about get step 1 right first.

    Reply
  4. James Willert says:
    7 years ago

    Great, thanks for the FUD inducing title on an obviously unwarranted hit-piece given the details and prior public knowledge about this potential issue. My alt portfolio thanks you as well, you f#@%.

    Reply
  5. David Dunn says:
    7 years ago

    Yeah, this was a super-FUD article…

    Reply
  6. Gareth Smith says:
    7 years ago

    I am guessing this is “Transfer on behalf of” which the peer to peer exchanges like ED utilise but a number of recent ICO have disabled on advice from security auditors.

    Total guess, could be wrong.

    Reply
  7. Damien Somerset says:
    7 years ago

    No sources. No person associated with the quote. This article goes down in my book as rumor.

    Reply
  8. JayDoe says:
    7 years ago

    FUD LOL

    Reply
  9. Voz de Arroto says:
    7 years ago

    JP BUNTINX, FUD BOI

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 9

  1. lez says:
    7 years ago

    Source?

    Reply
  2. Sypher says:
    7 years ago

    just fud

    Reply
  3. wolfystrade says:
    7 years ago

    What happened to just good old digital currency, how about get step 1 right first.

    Reply
  4. James Willert says:
    7 years ago

    Great, thanks for the FUD inducing title on an obviously unwarranted hit-piece given the details and prior public knowledge about this potential issue. My alt portfolio thanks you as well, you f#@%.

    Reply
  5. David Dunn says:
    7 years ago

    Yeah, this was a super-FUD article…

    Reply
  6. Gareth Smith says:
    7 years ago

    I am guessing this is “Transfer on behalf of” which the peer to peer exchanges like ED utilise but a number of recent ICO have disabled on advice from security auditors.

    Total guess, could be wrong.

    Reply
  7. Damien Somerset says:
    7 years ago

    No sources. No person associated with the quote. This article goes down in my book as rumor.

    Reply
  8. JayDoe says:
    7 years ago

    FUD LOL

    Reply
  9. Voz de Arroto says:
    7 years ago

    JP BUNTINX, FUD BOI

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Breaks Critical $2,800 Level — Can Bulls Hold For Major Rally?

Popular market analyst with X username Daan Crypto has provided an important insight into the Ethereum market, stating the altcoin...

Semilore Faleti 8 hours ago
Solana

Solana (SOL) Set For Price Run To $2,700 — But This Condition Must Hold

Solana (SOL) has registered a 0.58% loss in the past day, representing a slight price retracement from its strong weekly...

Semilore Faleti 11 hours ago
Bitcoin

Who Flipped The Switch? Bitcoin STHs Accumulate While LTHs Take Profit

Over the last month, Bitcoin ranged within the $100,000 — $110,000 price region until its recent breakout to reach a...

Opeyemi Sule 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

Scott Matherson 4 hours ago
Bitcoin

Kiyosaki Awaits The Next Bitcoin Sale: ‘My Fellow Pigs And I Are Feasting’

Christian Encila 5 hours ago
Ethereum

Ethereum Chart Confirms Bull Flag Breakout: $3,834 Target Comes Into View

Scott Matherson 7 hours ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    7 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    7 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    7 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.