"There's a major flaw in the ERC20 code, not ours, all ERC20 code."
-Nicholas Amato
Nicholas Amato is the CEO of 803 Mine, a new crypto mining ICO that distributes 50% of their mining revenues to token holders. During a live interview on Coin Interview today, Oct. 10th, Amato dropped a bombshell. What seemed like a normal question about smart contracts turned into the CEO revealing with confidence that "there's a major flaw in the ERC20 code".
Amato: "We''ll see in a few days...we might need more info on it, but, um, that comes from about as high up as you can get in Ethereum, and that's a security risk. I'm not gonna put anybody invested with us, or even myself, at risk of an attack on an Ethereum contract."
Seemingly in disbelief, the Coin Interview host (Christian, I believe), pushed back.
Coin Interview: "You're telling me you think the ERC20 is orked [forked?fucked?], and no one knows about it?"
Amato: "You'll have to see in a few days. I've specifically been told to keep this one hush hush cause, I think, um, if this gets any wind on any Ether channels I'm gonna have a lot of people calling me up saying 'What?! What issue?'"
Coin Interview: "You do realize this is live television right? This is not the right place to uh"
Amato: "Hey, Ether, if there's Ether core devs watching, you know what I'm talking about, so, please post."
Well, we caught wind of it. Core devs, white hats, what's up?
Ken Crypto,
Cryptokens
Links:
Watch the full video interview
Watch the relevant section starting at 27m 13s
Or watch here:
Yikes. I'm curious to find out what the issue is. I'm sure we won't know the details until it is fixed though.
I agree, if there is a vulnerability, it's unlikely well enough funded bad actors will find it before the next update on Oct 16th. In any case, this whole crypto space needs better bug recovery.
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