OpenZeppelin’s Integration of ERC-2771 Introduces a Vulnerability for Address Spoofing

OpenZeppelin's Integration of ERC-2771 Introduces a Vulnerability for Address Spoofing

OpenZeppelin Identifies Root Cause of Smart Contract Vulnerability

Thirdweb recently reported a security vulnerability in a widely used open-source library that could impact various smart contracts in the Web3 ecosystem. OpenZeppelin conducted an investigation and discovered that the vulnerability is caused by the integration of two specific standards: ERC-2771 and Multicall. This integration allows for the overriding of certain call functions, potentially exposing sender address information and enabling spoof calls. OpenZeppelin advised users to take several steps to ensure safety, including disabling trusted forwarders, pausing contracts, preparing upgrades, and evaluating snapshot options.

Mitigation Tool Launched by Thirdweb

In response to the vulnerability, Thirdweb has released a mitigation tool that allows users to check if their contracts are vulnerable by connecting their wallets. This tool helps users identify and address any potential risks.

Velodrome Deactivates Relay Services

Stay ahead in the crypto world with our newsletter!

Subscribe now for the latest updates, insights, and trends in the cryptocurrency market.

Decentralized finance platform Velodrome has deactivated its Relay services until a new version is installed. This decision was made after reviewing the details of the vulnerabilities disclosed by OpenZeppelin.

The Potential of AI in Smart Contract Auditing

James Edwards from Librehash highlighted the potential of AI chatbots in vetting smart contracts. While deploying AI chatbots in live environments is risky, recent tests have shown their ability to audit contracts with high accuracy. Although it’s not yet as effective as human auditors, AI can provide a strong initial review to expedite the auditing process and enhance its comprehensiveness.

Hot Take: Addressing Smart Contract Vulnerabilities for Enhanced Security

The recent discovery of a security vulnerability in commonly used smart contract standards highlights the importance of proactive measures to ensure the security of the Web3 ecosystem. OpenZeppelin’s identification of the root cause and the subsequent mitigation tool released by Thirdweb demonstrate the collaborative efforts within the crypto community to address such vulnerabilities. Additionally, the potential role of AI in smart contract auditing presents an intriguing opportunity for streamlining the auditing process and enhancing its accuracy. As the industry continues to evolve, it is crucial to prioritize security measures and stay vigilant against potential threats.

Author – Contributor at | Website

Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan’s insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats.

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.
Share via
Share via