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ERC20 token example at the main ethereum.org page leading to loss of money for customers #755

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Dexaran opened this issue Dec 20, 2017 · 1 comment

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@Dexaran
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Dexaran commented Dec 20, 2017

As I wrote earlier, ERC20 token standard suffers two critical problems that already leads to loss of millions of dollars.

There is an "Issue your token" button and a corresponding section at the main ethereum.org page of Ethereum project.

This page provides a minimal viable code and it's exactly ERC20 vulnerable code. As for customer, it looks like an official recommendation to use this code (or this token standard) as an officially confirmed and secure implementation, but it is not. This already leads to loss of millions of dollars due to a flaw of ERC20 token.

erc20-code

I think that it's a terrible idea to advise your customers to use code that is vulnerable and that will lead to loss of money.

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