Quantstamp

Binance Gets A Clean Bill Of Health After Audit Of Its ERC-20 Tokens After ‘BatchOverflow' Bug

The smart contract security firm, Quantstamp has given the all clear to the international cryptocurrency coin exchange Binance over its ERC-20 tokens upon the conclusion of its audit. The audit itself was to determine whether or not any of the listed tokens were the subject of a recent series of bugs called ‘BatchOverflow' or ‘ProxyOverflow'.

With the conclusion of its audit in late April, Quantstamp published its final report, which gave Binance the all clear in terms of the tokens it had listed. These bugs provide a risk to the long-term value of the afflicted tokens; literally allowing users to duplicate them out of thin air.

In A Statement, Quantstamp Validated Binance's All Clear Status:

“Quantstamp shares Binance’s safety-first philosophy in protecting their customers and supports the exchange’s ambitions to create the gold standard in security for the mass adoption of digital currencies, said Richard Ma, CEO of Quantstamp… “In light of the recent vulnerabilities, we are proud to have assisted Binance in its mission to help protect their token holders and the wider Ethereum community.”

While there is a legitimate concern over whether specific tokens are affected by these bugs, only a select number of them are, thinning the list of potential concerns exchanges and users may have.

While the list is a small one, these bugged tokens do appear on a number of international coin exchanges, with some of them taking precautionary measures such as suspending trading operations or simply de-listing the tokens temporarily.

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