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 <p class="is-style-lead">Blockchain security firm SlowMist says malicious actors have already exploited the vulnerability in the LDO Token <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a> on several cryptocurrency exchanges.</p> 
 <p>A blockchain security firm, SlowMist, took to X (formerly Twitter) to warn users about a “known operational issue” in the LDO Token <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a>, saying the vulnerability has already been exploited on trading platforms without naming them.</p> 
 <p>In an X post published on Sept. 10, the blockchain firm cautioned users about the so-called “fake deposit” attack, which allows bad actors to remotely execute a transfer operation where the requested value is larger than what the victim owns.</p> 
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    <p lang="en" dir="ltr">Specifically, when the LDO token <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a> executes a transfer operation with a quantity exceeding the user's actual holdings, it doesn't trigger the usual transaction rollback. Instead, it merely returns “false” as the outcome rather than indicating a failure.</p>— SlowMist (@SlowMist_Team) September 10, 2023 
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 <p>Analysts at SlowMist say users should not only rely on the interface data they get when sending or receiving tokens, but also on the actual return values from the token <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a>. They also cautioned the crypto community about token <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a>s that “do not adhere to the ERC20 standard.” However, SlowMist didn’t elaborate on which <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a>s might face the same issue.</p> 
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  <p>“Before integrating new tokens, ensure a deep understanding and analysis of their contract code to ensure the correct deposit logic.”</p> <cite>SlowMist analyst</cite> 
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 <h2 class="wp-block-heading" id="lido-says-tokens-are-safe">Lido says tokens are safe</h2> 
 <p>Lido didn’t publicly confirm any exploits of its <a rel="noopener noreferrer nofollow" title="contract" href="https://thebittimes.com/tag/contract.html">contract</a>. In a response published on X, the project noted that the issue “is expected and conforms to the ERC20 token standard.” Lido also reassured users that LDO and stETH tokens “are safe.”</p> 
 <p>Lido is a liquidity staking protocol, which supports multiple blockchain networks and sidechains, including Polygon. According to data from DeFiLlama, the total value locked (TVL) in Lido stands at over $14 billion as of Sept. 11. LDO is an ERC20 governance token used for voting on improvement proposals in the Lido DAO.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Lido Finance adds over $1b in less than 24 hours after Ethereum upgrade 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/slowmist-warns-about-fake-deposit-flaw-in-lido-token-contract-tbt62238.html">https://thebittimes.com/slowmist-warns-about-fake-deposit-flaw-in-lido-token-contract-tbt62238.html</a></p>

SlowMist warns about ‘fake deposit’ flaw in Lido Token contract

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