Experts Spot Huge Volumes of New Ethereum Smart Contracts, Asset Gathering Assumed

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Tue, 07/24/2018 - 14:37
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Yuri Molchan
An Ethereum address is making up to 12,000 smart contracts in a week: report
Experts Spot Huge Volumes of New Ethereum Smart Contracts, Asset Gathering Assumed
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Analysts report that the smart contracts have sent almost 600 ETH to an unknown account within a week.

The experts believe that these actions may be the sign of some organization collecting financial assets, using the smart contract technology.

Analysts at work

The security department at RatingToken mentioned that the smart contracts they encountered were of high-design level. They also had deployment bots, included money collectors and money pools aimed at different tasks.

The analysts reckon that these smart contracts were designed to launch automatically. The production of the contracts took over 20 ETH of Gas fees.

RatingToken agency works in the sphere of data analysis and business ratings for Blockchain companies.

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Staying alert

The analytical team intends to keep an eye on the address the transactions have been made from in case there is more smart contract activity to do with finance.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.