Critical vulnerability was spotted in Augur tokens

Hackers were able to create a "time paradox" in order to make token transfer impossible
29 July 2017   3262

The team of the Augur together with Zeppelin Solutions reported that the Serpent programming language, that was used to create the project revealed a critical vulnerability. This is reported by Forbes.

At this point, a vulnerability that threatened REP tokens has already been eliminated.

From a technical point of view, using the detected vulnerability, hackers could change the time stamp of tokens creating to a date in the future and thereby make it impossible to transfer tokens.

To solve the problem, the vulnerability was deliberately activated. Timestamp of creation was increased on approximately 31 billion years. The old REP contract was frozen at the same time.

At the same time, representatives of Augur assure that REP owners do not threaten the owners of tokens.

As Zeppelin Solutions notes, Serpent can not be considered safe for use until many problems are solved. The company's specialists also recommended that all projects using Serpent smart contracts, migrate to Solidity, using contracts for tokens ERC20 standards that have been developed by the OpenZeppelin.

The migration will be a simple translation from one language to another. This is a straightforward process, similar to translating a document written in English into another language you’re fluent in, then running your translated text through a series of tests to ensure nothing was lost in translation.

Augur Blog

Poloniex, Kraken, Bittrex, Liqui, Bity, Gatecoin, BTER, Mr.Ripple, GateHub, HitBTC, ShapeShift, Changelly, Jaxx, Parity, MyEtherWallet, MetaMask , OASIS and EtherDelta are the products, which confirmed that they will have to update their software.

The vulnerability has been discovered in the course of the audit, which is conducted Zeppelin Solutions for Augur.

Augur is an open-source, decentralized, peer-to-peer prediction market platform built on Ethereum. As developers assure, "Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool - and the chance for real money trading profits".

Vulnerability in Ethereum-purse Parity led to the theft of more than $ 30 million last week.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   332

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.