The Strangest Smart Contract Bug You Haven’t Heard About
▻https://hackernoon.com/the-strangest-smart-contract-bug-you-havent-heard-about-a6ebc8dbc0a5?sou
A bug.Note: I have no intention of discrediting the project or anyone involved with it. The beautiful part about crypto and smart contract development is all of the code is on display. I’m just commentating on a monumental screwup and a very interesting situation.Legolas Exchange (LGO) raised ~$30M USD early in 2018 and deployed an ERC-20 token on #ethereum. The token has a peculiar feature built into the code that is supposed to reward hodlers (sic). For every 6 month period in the first 2 years, all of the accounts that haven’t moved their funds yet should receive an additional 5% in tokens as a reward for their loyalty. The reward has the potential to be higher than 5% — increasing as others abandon their rewards.Sounds great right?Unfortunately the immutable contract was coded such that (...)