Latest News on OKEX Stopped ERC20: Hong Kong-based OKEX, the 3rd largest cryptocurrency exchange on earth by commerce volume, frozen ERC20 token deposits April 25 after the discovery of that which developers say is just a “fresh, smart contract insect.”
In an article, the market supported that the insect, known as BatchOverFlow, was allowing malicious parties to “generate a considerable quantity of tokens, and then deposit them in a typical address.”
“This leaves all those ERC-20 tokens vulnerable to price manipulations of the attackers,” they wake up.
The events come after a DNS exploit watched a few users of ERC20 wallet resource MyEtherWallet inadvertently socialize with a website, exposing their login data along with funds.
While some sources attributed the attack to weaknesses developers refuted these claims.
At the time of press time, the OKEX problem’s source remains unknown.
The exchange has “contacted the affected token teams to conduct an evaluation and take necessary measures to protect against the attack,” it adds, while customer deposits already sent will be credited when the problem has normalized.