Knownsec security experts brief on Ethereum-based game Fomo3D
Chinese security company Knownsec briefed the media about the Ethereum-based gambling game Fomo3D. The security experts said Fomo3D is a decentralized and untrusted blockchain game that runs directly on Ethereum network. It is a decentralized app [dapp] just like Cat.
For the uninitiated, the gambling game has gone viral in the crypto world over the past week and accrued seven-day trading volume of 180,000 ETH. The only problem is everyone plays but only to lose it.
The experts from Knownsec explained that the game was uncontrolled by anyone and it was carefully programmed and deployed by smart contracts. Ethereum Smart Contract is a set of code (functions) and data (state of the contract) located at a specific address in the Ethereum blockchain. Smart Contracts are mostly written in Solidity language.
The game will keep running until the Ethereum network dies, no matter how enticing the pot is, it will only pay according to the rules of the game.
Fomo3D has added a random airdrop mechanism through which one can have a chance to win the airdrop reward in the transaction. When the 0.1-1 ETH is paid, there will be a 25 percent probability of winning the airdrop reward, Knownsec explained.
The company said, “After analyzing the entire contract, we believe that the problem of resolving the probability by recursively creating a contract should be considered as a mechanism for airdrop rewards that cannot be avoided with smart contracts.”
The creator of the contract should avoid generating random numbers on the blockchain. Seeds can only partially avoid the impact of the problem.
So far, about 12 million airdrop-related contracts have been affected in Fomo3D, but this is only less than one percent of Fomo3D.
Fomo3D on its official website advised users to be wary of fraud sites. It noted that JUST team, the makers of the game, did not release a short version of Fomo3D.
known criminals attempted to defraud the Ethereum through a fraudulent website. Please help us protect the community. In addition, the amount of Ethereum in the Fomo3D prize pool is currently 21,593.92.
Image via Shutterstock
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