The vulnerability has been dispatched, even after its affects on different leading transaction simulating vendors. As per some recent blogs, ZenGo, a crypto wallet developing company said that they had uncovered some of the security vulnerabilities in the simulation solution for transactions that many DApps use. They have marked the issue as red pill attack, and ZenGo revealed that the attack allows dishonest dApps to steal the used data based on their approvals of transaction order. The name of theis vulnerability in web 3 got its name from the red pill scene of the Matrix movie.
ZenGo has already claimed that their researches has revealed that some of the leading vendor firms like Coinbase has been vulnerable to this new problem in Web3 at some point. They said that all the vendors has been receptive to the reports they have published and most of them opted to fix the issues.
As per the news, this problem is created due to an oversight during the programming among the smart contacts section. ZenGo said that there are no right value for these variables and the developers who wanted to take a shortcut has created these problems for the companies.
ZenGo Reveals A New Vulnerability In The Crypto Market:
In a video posted, the developers of the crypto wallet maker showed how the simulation of smart contact on Polygon asked users for native coins in exchange for others can get compromised with this method. The company said that the only fix for the problem is easy. Instead of populating the variables with the arbitrary values, this simulation will populate them with some meaningful values. The ZenGo frm has presented some screenshots for the bug bounties that was awarded by Coinbase even to solve the issue. Coinbase gave 50K USD grant to ZenGo as well for their research on this simulation.