Some crypto exchange platform has temporarily halted trading after Peckshield, a Blockchain smart contract security Firm uncovered batchOverflow and proxyOverflow vulnerabilities in multiple ERC20 tokens.
World’s leading crypto exchange, Binance is safe and has ensured that none of the ECR20 tokens listed on Binance platform suffer from these Vulnerabilities. Binance had engaged Quantstamp, a smart contract security audit firm to Audit all its listed tokens to make sure they are not affected by these Bugs.
The two Vulnerabilities, batchOverflow and proxyOverflow, are resulting in an integer overflow, a typical computing error that occurs when trying to place an integer into a memory space that is too large for the integer data type.
After the Quantstamp audit, at least it is clear that none of the tokens listed on Binance are affected by these vulnerabilities. QuantStamp applauded Binance team for the diligence that they exhibited during the Audit process and immeasurable dedication to the security of their customers.
Notably Richard Ma, CEO, QuantStamp said:
“Quantstamp shares Binance’s safety-first philosophy in protecting their customers and supports the exchange’s ambitions to create the gold standard in security for the mass adoption of digital currencies. In light of the recent vulnerabilities, we are proud to have assisted Binance in its mission to help protect their token holders and the wider Ethereum community.”
It is worth noting that, Quantstamp expressed that these bugs are not a flaw within the ERC20 standard itself. They are just a typical case of poor code in the Smart Contracts of the, particularly affected tokens.