Blockchain
Casper Network Has Been Victim of a Cryptocurrency Cyber Attack!
Cryptocurrency hackers seem to have become very active this month. We have already seen some cryptocurrency hackers in the previous weeks of this money. Another security breach of a cryptocurrency project hits the cryptocurrency community on July 27th.
Casper Network, the new victim of cryptocurrencies
The evening of July 27th sent the crypto community into shock when another crypto hack news broke. Casper Network from its official Twitter account informed the community that they had discovered a significant security flaw on the network. In response to this breach, Casper Network immediately took action and shut down the network to prevent further damage.
Source: X(ex Twitter)
The Casper team along with the Casper Association and Casper Labs froze the network at block 3,329,418 with the help of validators. It has been 13 hours and the blockchain is still frozen, which does not allow any kind of actions such as transactions, minting or staking.
The team, from their Twitter handle, informed the community that the security breach is contained and the issues have been identified. They assured the community that the team is working on a working fix.
Details of the breach
The team is currently still analyzing the data to understand the extent of the damage done. They have asked the community to be patient until the investigation is complete. Once completed, a detailed report will be shared publicly and will be available for everyone to see along with the modified code from the Casper GitHub repository.
Source: X(ex Twitter)
According to the team, only a few major accounts were affected. The nature of this attack is still unknown. This did not affect trading of their native CSPR token on exchanges.
Cryptocurrency hacks one after another are spreading fear among the cryptocurrency communities. Just last week one of the largest cryptocurrency exchanges in India, Wazirx has been hacked and about 45% of cryptocurrency funds were stolen. They are still working to identify and recover the lost funds, while operations on the cryptocurrency exchange are suspended.
In another attack on Scroll Network’s lending protocol, hackers gained access to approximately $7.6 million worth of tokens.
Looking forward
These hacks clearly raise major concerns about the security of investors’ funds. How do these hackers get into wallets or networks? Sometimes it’s faulty smart contracts, other times it’s phishing apps. No matter what these projects say, one question remains unanswered: Can crypto projects become unhackable like blockchain?