0x Exchange Shuts Down After Finding Security Vulnerabilities

0x decentralized exchange had to suspend all of trading services after discovering a critical security flaw that might pose risk to it’s users.

This vulnerability would allow an attacker to fill certain orders with invalid signatures. This vulnerability does not effect the ZRX token contract; your digital assets are safe.” However, as a precaution, 0x shut down the Exchange contract and Asset Proxy contracts responsible for performing asset transfers on the 0x protocol.

Will Warren , 0x CEO

This vulnerability was discovered by 3rd party security researcher Sam Sun , who was nice rnough to disclose it’s details to 0X exchange team.

What Is 0x?

0x is an open protocol for exchanging ERC-20 tokens on the Ethereum blockchain using an off-chain order relay and on-chain settlement strategy. It’s native token, ZRX, is used for trading fees and ultimately, governance. 0x is a public system of smart contracts with a formalized message schema that outlines how an order should be structured. 0x is not a decentralized exchange itself3, but rather democratizes the process of building a decentralized exchange. The founders believe the true value lies in equipping teams with the tools, libraries and smart contracts needed to build for-profit relayers (0x’s version of DEXs) and creating a global pool of shared liquidity. Thus, 0x is to relayers what Ethereum is to dApps – a platform to build upon.