Lido assures LDO, stETH tokens remain safe despite flaw in token contract

📆 9/11/2023 4:52 AM
📰 Cointelegraph

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Ethereum staking service Lido Finance has confirmed LDO and stETH funds are safe despite a “fake deposit” exploit in LDO’s token contract putting funds at risk, according to on-chain security firm SlowMist. The two firms are disputing the origins of the security flaw.

SlowMist said LDO’s flawed token contract allows bad actors to facilitate “fake deposit” attacks on exchanges because LDO’s token contract enables users to execute transactions even where they don’t have sufficient funds. This code deviates from theHowever, Lido Finance argued the flaw is built into all ERC-20 tokens — not just Lido’s LDO token:

This behaviour is expected and conforms to the ERC20 token standard . Both LDO and stETH remain safe.— Lido SlowMist said the “fake deposit” attacks came from LDO’s token contract executing transfers where the value is larger than what the user actually owns, triggering a false return as opposed to reverting the transaction. While the firm said Lido's token contract has recently been exploited via this attack, no on-chain evidence was provided.

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