Over 70% ICOs Have Smart Contracts Vulnerabilities

As researchers report, only one ICO held in 2017 did not contain any critical flaws
26 June 2018   1197

Security researchers from Positive found on average five vulnerabilities in each ICO, held last year. This is reported Bleeping Computer.

According to researchers, only one ICO project didn't contain bugs.

The study found that 71% of the projects contained vulnerabilities in smart contracts. Among the common problems, analysts pointed out the inconsistency with the ERC-20 standard, the incorrect generation of random numbers and other significant shortcomings.

Experts said that such vulnerabilities appear due to lack of proper qualification of programmers and insufficient testing of source code.

Most of the security breaches analysts found in ICO-projects of mobile applications development. Among the common vulnerabilities were named: unsafe data transmission, unreliable storage of user data in phone backups and disclosure of the session identifier.

Some vulnerabilities in web applications were aimed at attacking investor funds. For example, because of a lack of proper security, hackers could register a domain similar to ICO, create phishing sites, thereby deceiving investors.

According to the research, every third project contained vulnerabilities that allow hackers to access data and savings of companies-organizers. Analysts also noted that many initiators of ICO did not use two-factor authentication for important accounts.

Huobi to Launch Prime Lite IEO Platform

Huobi Prime Lite is a “niche project” with some tokensale differences from Prime platform and the first project on it will be ThunderCore
24 April 2019   80

Huobi will launch an improved initial exchange offer (IEO) platform called Prime Lite.

Representatives of the company note that Huobi Prime is a “niche project”. Listing requirements for this platform are the same as for the main IEO site. However, tokensale on the new platform will have several differences from Huobi Prime:

  1. Shorter listing cycle and more flexible listing schedule
  2. Trading allocations for users are more flexible
  3. To facilitate the development of HT (Huobi Token), all HT exchanged will be burnt

The launch of the new platform is scheduled for May 9th. The first IEO on Prime Lite will be ThunderCore, which develops a blockchain with a bandwidth of more than 1,200 transactions per second. The project plans to raise about $ 500 thousand.