Everyone says smart contracts can’t be changed after deployment, so why can some projects still be upgraded? Many people can’t explain it clearly!
During an upgrade, an account with upgrade permissions changes which logic contract the proxy contract points to. The address users interact with stays the same, but the logic being executed changes.
If upgrade permissions are controlled by a single private key and that key is stolen, an attacker can replace the contract with malicious logic.
It’s best to only put in money you can afford to lose without it affecting your life.
$ETH 2367.73（-6.09%）
During an upgrade, an account with upgrade permissions changes which logic contract the proxy contract points to. The address users interact with stays the same, but the logic being executed changes.
If upgrade permissions are controlled by a single private key and that key is stolen, an attacker can replace the contract with malicious logic.
It’s best to only put in money you can afford to lose without it affecting your life.
$ETH 2367.73（-6.09%）