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The Daily Hodl
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Ethereum Smart Contract Bug: Updates from SmartMesh, Enigma, Poloniex and HitBTC

by Daily Hodl Staff
April 25, 2018
in Scams, Schemes and Hacks

Digital asset exchange OKEX announced today that it suspended deposits of all ERC-20 tokens “due to the discovery of a new smart contract bug – BatchOverFlow.” The bug allows hackers to exploit certain ERC20 smart contracts by spinning up vast amounts of tokens out of thin air.

Multiple exchanges, including HitBTC, Poloniex, Changelly and QUOINE, also temporarily suspended trading.

Poloniex

Poloniex re-enabled deposits and withdrawals for all ERC20 tokens.

HitBTC

HitBTC is tracking every coin’s status on their System Health page.

OKEX

OKEX reports, “To protect public interest, we have decided to suspend the deposits of all ERC-20 tokens until the bug is fixed. Also, we have contacted the affected token teams to conduct investigation and take necessary measures to prevent the attack.” The exchange notes that abnormal trading activity first began with BeautyChain (BEC) at around 13:00 on April 22 (Hong Kong Time).

SmartMesh

SmartMesh (SMT), an ERC20 token, has responded with an update:
A whopping 65,133,050,195,990,400,000,000,000,000,000,000,000,000,000,000.891004451135422463 counterfeit tokens were created due to the smart contract hack.

The major exchanges where SMT is listed, such as Huobi, Gate, OKEX, CEX, suspended SMT trades and transfers, “and the loopholes have been repaired.” The SmartMesh Foundation will destroy tokens to stop price manipulation and keep the total supply of SMT at the value of 3,141,592,653.

The Details

The BatchOverFlow bug was detailed on April 23rd by user ranimes in a Medium blog, “New batchOverflow Bug in Multiple ERC20 Smart Contracts (CVE-2018–10299).”

Addressing the ERC20 fear, uncertainty and doubt (FUD), Dan Emmons, a certified Ethereum and full stack developer who posted on Medium, claims the problem can be solved. “It’s essentially the same type of overflow that can occur in any type of arithmetic, since multiplication is just repetitive addition. The problem can be avoided: using SafeMath for uint256.”

Enigma

In response to inquiry: the Enigma ERC20 token is NOT affected by any smart contract vulnerabilities that were disclosed. All is well 🙂

— Enigma – We ?? Privacy (@EnigmaMPC) April 25, 2018

Enigma, an ERC20 project incubated at MIT Media Lab, updated their community with a tweet that they were not affected by the smart contract bug.

Below is a partial list of coins that were affected by the BatchOverFlow bug.

1 MESH 0x3ac6cb00f5a44712022a51fbace4c7497f56ee31
0x01f2acf2914860331c1cb1a9acecda7475e06af8
2 UGToken 0x43ee79e379e7b78d871100ed696e803e7893b644
3 SMT 0x55F93985431Fc9304077687a35A1BA103dC1e081
4 SMART 0x60be37dacb94748a12208a7ff298f6112365e31f
5 MTC 0x8febf7551eea6ce499f96537ae0e2075c5a7301a
6 FirstCoin 0x9e88770da20ebea0df87ad874c2f5cf8ab92f605
7 GG Token 0xf20b76ed9d5467fdcdc1444455e303257d2827c7
8 CNY Token 0x041b3eb05560ba2670def3cc5eec2aeef8e5d14b
9 CNYTokenPlus 0xfbb7b2295ab9f987a9f7bd5ba6c9de8ee762deb8
Source: Peckshield.com
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