SuperRare $730,000 exploit was easily preventable — Experts weigh in

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NFT trading platform SuperRare suffered a $730,000 exploit on Monday due to a basic smart contract bug that experts say could have easily been prevented with standard testing practices.

SuperRare’s (RARE) staking contract was exploited on Monday with around $731,000 worth of RARE tokens stolen, according to crypto cybersecurity firm Cyvers.

The vulnerability stems from a function meant to allow only specific addresses to modify the Merkle root, a critical data structure that determines user staking balances. However, the logic was mistakenly…



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SuperRare $730,000 exploit was easily preventable — Experts weigh in


NFT trading platform SuperRare suffered a $730,000 exploit on Monday due to a basic smart contract bug that experts say could have easily been prevented with standard testing practices.

SuperRare’s (RARE) staking contract was exploited on Monday with around $731,000 worth of RARE tokens stolen, according to crypto cybersecurity firm Cyvers.

The vulnerability stems from a function meant to allow only specific addresses to modify the Merkle root, a critical data structure that determines user staking balances. However, the logic was mistakenly…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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