Let’s talk about upgradeable contracts.
When upgrading, an account with upgrade permissions changes the proxy contract to point to a new logic contract. The address users interact with stays the same, but the logic being executed changes.
One thing many people overlook: if upgrade permissions are held by just one private key, an attacker who steals that key can replace the contract with malicious logic.
Keep an eye on upgrade proposals announced by the protocols you use. If you’re unsure about the changes, consider reducing the funds you have in the protocol first.
Related asset: $ETH quoted at 2453.26, 24h +2.51%.
#ETH
When upgrading, an account with upgrade permissions changes the proxy contract to point to a new logic contract. The address users interact with stays the same, but the logic being executed changes.
One thing many people overlook: if upgrade permissions are held by just one private key, an attacker who steals that key can replace the contract with malicious logic.
Keep an eye on upgrade proposals announced by the protocols you use. If you’re unsure about the changes, consider reducing the funds you have in the protocol first.
Related asset: $ETH quoted at 2453.26, 24h +2.51%.
#ETH