PeckShield Says Funds of DataDAO Users Are at Risk

According to PeckShield, a project named DataDAO, which advertises itself as a data marketplace platform, has a backdoor that can be used to steal users’ funds through approvals. Crypto scams are on the rise in the crypto industry, preying on uninformed as the market grows in popularity. On January 31, PeckShield’s Twitter account issued a real-time alert calling the project a scam and highlighting the precise code in question. DataDAO has not yet responded to the notice, and there has been no mention of it in the crypto community. DataDAO is a platform that claims to be seeking to create a dataset marketplace in which data sharing is rewarded. Its mission statement reads, “The pooling of data assets into a meaningful and valuable dataset that its value is greater than the sum of its parts.” Crypto Scams are Rising The project does not have the most professional appearance, with only a few followers on Twitter and a clearly unfinished website. There have been no instances of money being stolen so far. PeckShield, a blockchain security firm founded in 2018, has people from Microsoft, Intel, and Alibaba on its team. It is in the top three of the Ethereum Bounty Program, and it has formed collaborations with a number of blockchain companies. In addition to the DAppTotal and CoinHolmes services, PeckShield also offers security solutions and tools. The company discovered 50 probable fraud tokens on the Binance Smart Chain a few wee...