Apparently a wrapped token by @jacobgadikian, #WBLURT was hacked, and drained of #ETH.
- I suspect it was a Custodian Wrapped Token.
https://blurt.blog/blurt/@jacobgadikian/wblurt
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Apparently a wrapped token by @jacobgadikian, #WBLURT was hacked, and drained of #ETH.
https://blurt.blog/blurt/@jacobgadikian/wblurt
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Smart contracts on ETH are complicated. Something similar happened with wLEO too.
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Yeah, most people don't realize that the creators of Wrapped Tokens often have a Key to withdraw all of the collateral should they choose to.
It's called = Custodian Wrapped Tokens
https://medium.com/wanchain-foundation/how-safe-are-todays-wrapped-btc-bridges-b0f35
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That's on top of all the potential problems that could exist within the smart contract code itself. We've seen millions being lost this way.
Yeah, but it is a guaranteed risk for Custodian wrapped tokens, and one that most people don't know about 😬
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Let's hope these Buzzes receive enough attention and educate the people!
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Bro, why does a line appear in the fire of my posts and I can't make money?
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I think you changed the Max-Accepted-Payout to 0?
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Yes. I did it
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Ahh, that's why.
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Thank you very much, what a shame.
Too bad I lost my previous income.
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Ahhh it's okay.. next time 😁
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