Netta Lab reveals a bug in Ethereum virtual machine, but is it that critical?

  • The research company found a serious Ethereum EVM vulnerability.
  • Ethereum developers deny that it is really critical.
  • ETH/USD is still dozing in a tight range.

Netta Lab recently published an announcement Ethereum virtual machine vulnerability that allows executing smart-contracts endlessly without paying for gas. The researches stated that they applied to the operator of American database of vulnerabilities with the request to register the bug.

"Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paid," the tweet reads.

While some vigilant crypto users suspected that the news was fake CEO of NEO project Da Hongfei confirmed the info.

"Briefly talked with the CEO regarding the security issue. It seems quite serious. I am asking the team to check NeoVM also," he said.

Meanwhile, Ethereum's creator Vitalik Buterin explained that that vulnerability applies to Python version of the virtual machine that was revealed 9 days ago on GitHub. It means that the problem does not affect the main clients like go-ethereum; parity и cpp-ethereum.

Ethereum network is getting ready for a major update known as Constantinople, scheduled for January 16, 2019. 

What's going on with Ethereum right now

Ethereum is changing hands at $211 handle at the time of writing, unchanged since the beginning of Monday. ETH/USD is locked in a narrow range, amid depressingly low volatility and ono-existant trading activity. The coin needs to break above $220-$223 area for the upside to gain traction, while the critical support lies with $200.

ETH/USD, 4-hour chart

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