Why you should verify the tokens you own: A deep dive into two vulnerable ERC20 contracts
The prices of two crypto tokens — BeautyChain and SmartMesh — dramatically crashed this week. One or more attackers exploited bugs in the their smart contracts and generated huge amounts of tokens out of thin air, massively diluting token supplies. These events could have been easily avoided. In this post, we describe the attacks, illustrate them with Solidity code examples, and argue that these hacks are a wake-up call for token investors and developers to be more cognisant and diligent about smart contract security
Koh Wei Jie