Blockchain Security Firm Discovers Vulnerability Potentially Affecting $1 Billion Worth of Crypto
Blockchain security firm dWallet Labs has revealed a vulnerability that could impact up to $1 billion worth of cryptocurrency, including assets such as Ether (ETH), Aptos (APT), BNB, and Sui (SUI).
In a paper sent to Cointelegraph, dWallet Labs reported a potential vulnerability in validators hosted by an infrastructure provider called InfStones. According to dWallet Labs, they discovered a chain of vulnerabilities that allowed them to gain full control, run code, and extract private keys of hundreds of validators on multiple major networks, potentially leading to direct losses equivalent to over one billion dollars in cryptocurrencies such as ETH, BNB, SUI, APT, and many others.
According to dWallet Labs, an attacker who exploits the vulnerability can acquire the private keys of validators across different blockchain networks. “Over one billion dollars of staked assets were staked on all of these validators, and such an attacker would have been able to gain full control of all of them,” they added.
In response to the potential vulnerability, InfStones denied that the bug could affect $1 billion in assets. Darko Radunovic, a representative from InfStones, stated that the potential vulnerability could only affect a small fraction of the live nodes they’ve already launched. The company also published a blog post saying the vulnerability was resolved.
Radunovic also highlighted that in response to the vulnerability, they’ve done internal reviews and had an accredited security firm audit their systems and company policies. The company also launched a bug bounty program to encourage any third party to work with them directly on any bugs they may find.
This discovery raises concerns about the security of blockchain networks and the potential for large-scale losses in the cryptocurrency market. It also underscores the importance of ongoing vigilance and security measures to protect against vulnerabilities and potential attacks.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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