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

  • Yuri Molchan
    📰 News

    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

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.

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 loves technology and gadgets. He has worked in crypto since 2017. Was quickly ‘converted’ into the ‘faith’ of crypto, believing that blockchain and cryptocurrencies will transform the world in the future. ‘Hodls’ Bitcoin and several altcoins.
He has worked for several Telegram channels, writing about DLT and cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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