An important bug in the ICON smart contract disabled ICX token transfers. The information has been reported on June the 15th by a Reddit user.
According to the Redditor, the ICON smart contract had a bug that was the same found in a currency known as Yggdrash.
I just published “Official statement regarding ERC20 ICX transfer error” https://t.co/GtAGZEZopK
— ICON (@helloiconworld) June 16, 2018
According to some reports the error is located in the ‘onlyFromWallet’ modifier, which controls the enable/disable ICX token transfer function. The smart contract understands that the wallet address is not equal to a specified address. It is important to mention that only the contract creator is able or disable toke transfers, creating an important problem to the network.
Binance decided to suspend ICX withdrawals and deposits, but later it re-enabled the transactions in the platform.
According to the redditor, the information has been reported by Wolf Crypto News on Twitter some hours before.
The error is not difficult to fix, but at the moment it has not been changed. Min Kim, ICON co-founder, explained that they are working on the problem trying to find a solution to it.
Users are complaining that such an important project as ICON should have some kind of testing and not create such a problems for the users and investors
At the moment of writing this article, ICON is being traded around $2.03 dollars and it is losing 5.73% in the last 24 hours. It has a market capitalization slightly under $800 million dollars and it is the 23rd most important crypto in the market between Zcash and Bytecoin.