Report: is the smart contract of the LEO token unclear?
Report: is the smart contract of the LEO token unclear?
Crypto

Report: is the smart contract of the LEO token unclear?

By Alfredo de Candia - 8 Jul 2019

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According to a report written by Cointelligence, which deals with data research and analysis in the crypto world, the smart contract behind the LEO token of Bitfinex would hide some unclear functions.

The LEO token, which is based on the Ethereum ERC20 standard, was launched on May 10th by iFinex Inc.

Cointelligence checked the code of the smart contract on Etherscan and then tested it on the Ropsten testnet to draw up the report.

Reviewing all the code, a series of elements were discovered that would allow doing practically anything to the “controller” of the contract, in this case, 0xf17ebb3a24dc6d6b56d38adf0df499c1cd9e5672, thus allowing to transfer, approve, burn and change the controller.

report leo token

There was also a function in the code called “generateTokens” which, as the name suggests, allows creating tokens in an unlimited way.

leo token report

There is also a destroyTokens feature that allows burning LEO tokens simply by choosing the address that contains the LEO tokens and specifying the total to burn, via owner and amount.

leo token report

To prove the truth of these claims, Cointelligence tested the function and burned a staggering number of tokens (1 billion to the power of 4).

leo token report

Clearly, these functions have been created to prevent certain harmful scenarios from happening, such as deleting funds from a compromised account or blacklisting wallets from a hacked exchange.

With regard to the above, the CTO of Bitfinex, Paolo Ardoino, stated in a tweet that these functions, and in particular that of creating new tokens, have been included in view of a long period of activity of the token itself.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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