Error receiving smart contracts
Coinbase, the headquarters in San Francisco, yesterday announced publicly that it had a failure in its systems. It should allow Coinbase users to manipulate Ethere. By using the smart contract, users were able to increase the number of their Etherea even without real ownership.
Such manipulation of smart contracts has been revealed only recently, but the system bug should have been reported as early as December 2017. Vicompany, a Dutch company that has identified the problem, received a $ 10,000 cash prize from Coinbase.
"Vicompany's research revealed a problem with the codes that deal with the acceptance of Etherea by contract. This allowed Etherea to be sent to Coinbase via a contract, even if the contract had not been completed successfully.
But the exchange later said that the bug was already removed. She also confirmed that this malfunction was not misused.
"The error was removed due to a change in the logic involved in accepting contracts. After analyzing the problem, we found out that it was not misused. "
In principle, this error would mean that people can send an unlimited amount of Etherea to their accounts without owning it. It would have to be done using smart contracts. However, even in the event of a contract failure, the amount would be added to the Coinbase account.
Coinbase is not alone
Coinbase, however, is not the only stock market that has had such problems. The Zaif Japanese stock exchange revealed at the end of February that due to an error in its systems, users could buy Bitcoin for $ 0 (a good deal no?).
Just over a month ago, Overstock had solved a totally quaint problem, which, however, pleased the individual. The bug in their system allowed customers to buy Bitcoin Cash products at the Bitcoin price. So few customers would save a lot of money.
conclusion
Even though such a mistake could have made Coinbase dearly, fortunately almost nobody was able to abuse it. Certainly, however, it does not add to the popularity of cryptomas that such errors occur quite often. On the other hand, it has to be said that this technology is really primordial to be flawless.