Augur Discovers a Weakness in The System
Augur has just announced the uncovering of a new bug that may have allowed a user with malicious intent to unload false data onto the platform and result in losses for all active users. The discovery was made by HackerOne and reported immediately. As of now, no damage or losses have been reported. The Augur (REP) app did see the company take their time in launching the application and added a $200K reward system in July for anyone discovering significant threats or exposures to its platform.
Viacheslav Sniezhkov, a programmer on the HackerOne program found the bug and said that any site may introduce what is known as a hidden iframe and essentially control and configure Augur nodes of any operational Augur applications. Augur concludes the first month of its decentralized application and environment on Friday. Even though user activity in regards to the idea of the application was significant, especially during the World Cup this year, user numbers and activity did drop after.
As per reports, only around 40 active users were operating on Augur within the past day, a far drop from its record high of 265 users in July. Even with its established reputation for predictions, dApp usage on the platform remains incredibly low.
As of now, and luckily, only the applications user interface was affected by the vulnerability and no additional threats have been discovered in the Augur digital contract. Since then, the weakness has been handled and updated and Sniezhkov was rewarded with $5K for the discovery. The application was released with an instant emergency termination switch for the initial 14 days after its launch and the switch was removed after the digital contract had received its safety confirmation.
The apps price on the market has seen heavy struggles as a result of the previous shakedown on the market, with REP plummeting down to around $23.20 on Binance and a total 22 percent loss in the last week. A lack of liquidity present on Bithumb as a result of several closed wallets also resulted in the strange pricing of $93. Known to be used as part of a “celeb-death prediction” platform may also be a possible factor in many turning away from Augur. Despite this, REP continues drawing in more participants with its now low prices in hopes of a bigger boom later on.