Smart contracts on ETH are complicated. Something similar happened with wLEO too.
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Smart contracts on ETH are complicated. Something similar happened with wLEO too.
Posted via D.Buzz
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
Posted via D.Buzzhttps://medium.com/wanchain-foundation/how-safe-are-todays-wrapped-btc-bridges-b0f35
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!
Posted via D.Buzz