Blockchain and the Law

Category Archives: Hacks and Vulnerabilities

Subscribe to Hacks and Vulnerabilities RSS Feed

Smart Contract Bug Leads Exchanges to Halt ERC-20 Token Trading

When a smart contract coding vulnerability resulted in the Parity wallet “freeze” that compromised over $150 million worth of user funds, we discussed the pitfalls of unsecure code in the context of cryptoassets and the extent to which software developers might be held liable to their users for losses arising from mistakes in, or the … Continue Reading

Blockchain Digital Assets in Virtual Reality, Video Games and eSports – Ready Lawyer One?

Virtual worlds similar to the OASIS in Steven Spielberg’s upcoming film Ready Player One may be closer than we think – and provably scarce, blockchain-based digital assets could provide the leap forward that gets us there. Already, developers are testing early implementations. Since CryptoKitties launched at the end of 2017, promptly causing a traffic jam … Continue Reading

When Smart Contracts are Outsmarted: The Parity Wallet “Freeze” and Software Liability in the Internet of Value

The recent Parity wallet “freeze” provides yet another example of a coding vulnerability in a smart contract (rather than a flaw in the underlying blockchain or cryptography) resulting in an exploit that compromises cryptocurrency worth millions. It again highlights some of the pitfalls of insecure code in the context of digital assets and raises questions … Continue Reading

Blockchain and Quantum Computing

2018 promises great inroads in the realm of “quantum computing.”  While conventional computers use binary data or bits (i.e., 0s and 1s) to store and process information (a bit can either store a 0 or 1), a quantum computer operates based on the laws of quantum mechanics and uses quantum bits or “qubits,” which can … Continue Reading
LexBlog