Lido Finance Addresses Security Flaw, Ensures Safety of User Funds
Summary:
Ethereum staking protocol Lido Finance assures users that their funds remain safe despite alleged exploitation of a known security flaw in Lido DAO's token contract. The flaw enables "fake deposit" attacks, but Lido argues that it is a common issue among ERC-20 tokens. Lido plans to update their token integration guides to address the flaw.
Lido Finance, the Ethereum staking protocol, has reassured users that their funds are safe despite allegations of hackers exploiting a known security flaw in Lido DAO's token contract. While Lido did not confirm any exploits, they acknowledged the flaw and emphasized the safety of LDO and stETH funds. Blockchain security firm SlowMist raised concerns about the flaw, stating that it enables "fake deposit" attacks on exchanges. However, Lido argued that this flaw is present in all ERC-20 tokens, not just Lido's LDO token. SlowMist suggested that LDO holders should check the return values of token contract transfers. Lido plans to update their token integration guides to address this issue.
Published At
9/11/2023 1:37:19 AM
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