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19 May 2018
On May 19th, Neo Global Development (NGD) issued a joint statement with Red4Sec in regards to a bug that was discovered in the ‘Smart Contracts’ of some of the DAPPS deployed on the Neo Smart Economy Blockchain. Red4sSec and NGD are empowered with constant monitoring of the NEO security.
Red4Sec uncovered a storage injection vulnerability in the code of various NEP-5 smart contracts. This flaw, however, does not affect the NEO Blockchain itself. A hacker could potentially make changes in the storage container of the contract, burn coins and alter the displayed value of the ‘total supply’. This, however, does not change the actual ‘total supply’!
While the risk of such an attack is very low due to the high cost and limited resulting damage, NGD has notified the affected projects. It was concluded that some projects were not affected or already solved the issue. Some affected DAPPS could decide to fix the bug and NGD confirmed that the assets were safe. Neo Global Development is directing developers towards GITHUB, with respect to ‘development guidance’.
NEO Global Development and Red4Sec also stated that they will remain committed to continuously monitoring the NEO ‘Core’ and ‘project codes’ for any bugs. You can read the official statement here!
Several projects have come out proactively with their own statements regarding the issue and reinsured their token holders that their assets are safe.
On a somewhat lighter note. Get ready for the ‘Shanghai Makers’ Blockchain Technology Forum on May 22! The innovation forum is hosted by the Science and Technology Committee. NEO invites us through its Official Twitter Channel to join the forum. Many experts will be attending the Shanghai Makers, including Peter Lin of NEO Global Development (NGD). He will give a speech about the ‘NEO Smart Contract Infrastructure and Applications’.
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