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   695

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.

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Top-3 Upcoming ICO 18th - 24th Nov. Acc. to Our Readers

Continue reading to get info on the latest ICO poll results
19 November 2018   9

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three upcoming ICO according to our readers.

1. Brain Space 

“The creation of an infrastructure that will become a strong foundation for the intellectual property market in the world, as well as reduce the process of identifying and developing the potential of authors to the level of access to the international arena at times”: the Brain Space team works to solve this task, because without the accessible, convenient and understandable procedures for registration and recording of the results of intellectual activity, and without the necessary and understandable tool it is difficult to imagine the achievement of the goal indicated in the strategies of a multitude of institutions scientifically technological development of the cultural sphere.

Brain Space ICO
Brain Space ICO

There's no info on Brain Space funds except pic above.

2. Cryptobuyer

Cryptobuyer started back in December of 2015 helping people in countries with high levels of hyperinflation and devaluation such as Venezuela and Argentina, where we had an unprecedented success with more than 40,000 registered users in a very short time and in an organic manner. Rapidly we continue to grow and start our operation with Crypto ATMs, becoming the definitive way to connect the FIAT world with the digital one, breaking down the educational barriers on this technology thanks to its ease of use. In 2018 we incorporated a practical point-of-sale solution that is already in use in more than 50 stores and that allows any merchants to easily accept crypto-currencies as a form of payment without having to worry about understanding the technology, breaking down another barrier for adoption. This set of solutions built from scratch by a solid foundational team with extensive experience in the area have made Cryptobuyer a 100% operational ecosystem, with real customers and merchants.


Cryptobuyer ICO

There's no info about ICO process except the pic above.

3. FinanceX

The FinanceX exchange platform enables users to trade using the local currency from a range of countries. This makes trading faster and easier as users can buy/sell cryptocurrencies directly instead of a slower and more difficult method using an intermediate, such as BTC or ETH. It also means that users can trade from many different countries with no added difficulty, setting us apart from other exchanges.


FinanceX ICO

175,000,000 FNX sold during tokensale. Great result!

Hope you’ve liked the results. Stay tuned!