The developers of the Bancor Network liquidity protocol have confirmed they have identified a vulnerability in their new smart contract. According to the company:
"Last night, a vulnerability was discovered in a new version of the BancorNetwork v0.6 contract deployed on June 16 2020. All user funds are safe. We have deployed a new version of the BancorNetwork contract that fixes the vulnerability."
Bancor representatives have also said the vulnerability has not been exploited and that all funds will be returned to users who might have been affected by the vulnerability - those who have interacted with Bancor during the past 48 hours. The company has also provided detailed instructions for users to recover their funds.
The price of the BNT token has dropped by more than 10% after the news was known.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.