Developers of smart contracts should understand that any of their mistakes can become critical, and therefore they need to think like aerospace engineers, says the famous bitcoin developer.

The former BitGo developer, well-known crypto enthusiast and supporter of bitcoin Jameson Lopp made his comments on the discovery of a new critical vulnerability in the Ethereum smart contracts, which affected a number of ERC20 standard tokens. According to Lopp, smart contract developers should think like aerospace engineers rather than like web developers.

The 'BatchOverFlow' vulnerability of Ethereum smart contracts allowed scammers to create huge volumes of tokens, transfer them to ordinary addresses and sell, thereby essentially earning money from actually nothing. After reports of vulnerability detected, a number of cryptocurrency exchanges like Huobi Pro, OKex, HitBTC and others suspended deposits and withdrawals of ERC20 tokens.

According to PeckShield, blockchain security startup, data, more than a dozen ERC20 smart contracts 20 are vulnerable to the detected bug.

Criminals have already managed to take advantage of the vulnerability. On 22 April, cybercriminals created 8 vigitillion of BeautyChain tokens and 65 novemdecillion of SmartMesh tokens.