Coinbase’s Base Network Faces Over 34,000 Smart Contract Vulnerabilities

Coinbase’s Base network has been reported to contain over 34,000 high-risk vulnerabilities in its smart contracts, according to data from Trugard Labs. These vulnerabilities include issues with malicious boolean checks and library tampering, particularly with standard libraries like SafeMath, which had nearly 22,000 issues. Additionally, over 6,300 instances of malicious boolean checks on token transfers were identified. The vulnerabilities could significantly affect security by potentially blocking or manipulating token transfers. Other threats identified include unauthorized token burns and controlled minting attacks. The findings highlight a notable transition of Web2 cybercriminals towards exploiting the Web3 space, adapting traditional strategies to target smart contracts and decentralized finance protocols. The report suggests that as decentralized finance grows, it becomes increasingly attractive to cyber threats.