Scammy ETH "Forks" to Steal Users' Private Keys

Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) are new crypto scam projects
11 January 2019   278

Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) fraudulent projects steal private keys from users, offering the latter to participate in the free distribution of coins. This is reported by the Cointelegraph.

There is no white paper on the Ethereum Nowa project site, however, the order of actions that users are invited to perform in order to receive ETN coins is described. In particular, they are advised to send a ETH to a specific address, then export the private key and receive forks using a special online tool.

The tool itself, proposed for obtaining coins, is a clone of the Ethereum wallet MyEtherWallet. It has a lot of design elements of a popular wallet, the only difference is in the domain.

Another scam project - Ethereum Classic Vision - has whitepaper. It says that hardfork will be held today, January 11, at 20:00 GMT. 

The analysis on the code performed by our team has shown that the piece of code provided actually sends your private key data on the Ethereum Classic Vision servers, masking it as an API token.
 

Guarda Wallet Team

The project website contains links to wallets under Windows and Linux.

Constantinople to be Postponed

Ethereum's hardfork will be late due to critical vulnerability found
16 January 2019   196

A scheduled upgrade of the Ethereum network called Constantinople was postponed indefinitely after a critical vulnerability was discovered in one of the improvements, CoinDesk reports.

This is a vulnerability in EIP-1283, which, as identified by the audit company SmartSecurity smart contracts, gave hackers the opportunity to steal user funds.

During a video conference on Tuesday with the participation of Ethereum developers and other clients and projects working on the network, it was decided to temporarily postpone the activation of the hard forks.

In particular, Vitaly Buterin, developers Hudson Jameson, Nick Johnson and Evan van Ness, as well as release manager of Parity Afri Shoedon took part in the meeting. Discussing the revealed vulnerability, they agreed that it would be impossible to eliminate it before the appointed time for hardfork (around 04:00 UTC on January 17).

A vulnerability, called a reentrancy attack, allows an attacker to repeatedly enter the same function and infinitely withdraw funds.

Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.
 

Joanes Espanol

CTO, blockchain analytics firm Amberdata

According to him, this is a lot like the vulnerabilities that were discovered in The DAO in the summer of 2016.

Representatives of ChainSecurity also noted that up to the Constantinople hard fork, data storage on the network cost 5,000 units of gas, which exceeds the 2,300 gas usually needed to call the “transfer” and “send” functions. After the upgrade, “dirty” storage operations will cost 200 units of gas, and an attacking contract can use 2,300 gas to successfully manipulate the variables of vulnerable contracts.

New date of hardfork not yet determined.