BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Business

Security Firms Report that 280 Blockchains Could be at Risk of Zero-Day Exploits

BlockNews Team by BlockNews Team
March 15, 2023
in Business, Crypto, Finance, Media
Reading Time: 3 mins read
A A
blockchain security
1
SHARES
14
VIEWS
Share on TwitterShare on Reddit
  • Cybersecurity firms warn blockchain networks of possible hacks.
  • Dogecoin and Litecoin are quick to clean up patches in the system.
  • Halborn warns of possible Reserve Procedure Call hacks.

Cybersecurity firm Halborn in a blog post warned of vulnerabilities that it dubbed “Rab13s”. Halborn also said they had already worked towards fixing the vulnerability with other blockchains like Dogecoin, Litecoin, and Zcash.

You might also like

Crypto Clients Of Signature Bank Have Been Advised To Close Their Accounts Before April 5

Circle To launch USDC Stablecoin on Cosmos via Noble Network

MetaMask Issues Warning Against Fake Airdrop Rumors

Halborn announced that at least 280 blockchain networks are at risk of exploitation that could drag the crypto space down a black hole and put at least $25 billion worth of cryptocurrency in danger. 

The cybersecurity firm said they had been hired around this time last year to conduct a security analysis of Dogecoin’s codebase and found problematic and exploitable vulnerabilities that could have endangered the blockchain space. 

Halborn also figured out while reviewing Dogecoin’s codebase that the vulnerabilities it found in it also affected 280 other networks in the blockchain space, which could lead to the loss of billions of dollars worth of cryptocurrencies.

The security firm outlined three vulnerabilities that they deemed the most critical and had high possibilities for hackers to send malicious messages to individual nodes that could lead to a total system shutdown. 

Halborn also added that over time, the malicious messages could expose the blockchains to a 51% attack where a hacker could have access to controlling the majority of the network’s mining hash rate or their staked tokens to enable them to create a new version of the blockchain or to take it offline.

Halborn also found other zero-day vulnerabilities that would enable potential attackers to crash blockchain nodes by sending out Remote Procedure Call (RPC) requests. This protocol would allow a program to communicate and request a service from another protocol.

However, they added that the likelihood of Reserve Procedure Call hacks is as low as it would require valid credentials to proceed with the attack. In addition, the difference in codebase between the networks would make it difficult for all vulnerabilities to be exploitable on all the networks. Still, it would work for at least one exposure on each network. 

Halborn said that it would refrain from releasing any more information on the technical details of the possible attacks due to the seriousness of the problem and also added that it had contacted all the affected networks to inform them about the potential danger and also helped in providing a solution on how to patch up the vulnerabilities.

Dogecoin, Zcash, and Litecoin have already fixed their vulnerabilities, but with the number of networks that the cybersecurity firm mentioned, hundreds are still exposed to the exposure of exploits.

Conclusion

Blockchain networks are not the only ones that have been at the mercy of vulnerabilities in their system. Just recently, OpenSea had to quickly patch up a vulnerability in its system after a cybersecurity expert pointed it out and the danger surrounding it. 

OpenSea was quick to respond to the alert and fixed up the patch. If the affected networks do the same, it would be suitable for all involved. 

Tags: BlockchainBlockchain SecuritycryptoDogecoinLitecoin
TweetShareShare

Recommended For You

Crypto Clients Of Signature Bank Have Been Advised To Close Their Accounts Before April 5

by BlockNews Team
March 31, 2023
0
signature bank

US FDIC advises crypto clients to move their funds and close all accounts on Signature bank before April 5. Signature's payments platform, Signet, is still up for grabs...

Read more

Circle To launch USDC Stablecoin on Cosmos via Noble Network

by BlockNews Team
March 31, 2023
0
circle pay crypto

USDC will be launched on the Cosmos ecosystem as a replacement for Terra’s fallen UST Noble aims to provide a solution for bridging assets from the Cosmos ecosystem...

Read more

MetaMask Issues Warning Against Fake Airdrop Rumors

by BlockNews Team
March 31, 2023
0
metamask

MetaMask has issued a warning to its users about rumors of an imminent MetaMask airdrop circulating on social media, which the company has dismissed as false and dangerous....

Read more

AllianceBlock Partners With Crunchbase To Make Its Data Accessible To Data Tunnel Users

by BlockNews Team
March 31, 2023
0
Allianceblock

AllianceBlock announces a partnership with Crunchbase to give its Data Tunnel users access to Crunchbase's data. This is a working example of a partnership between Web2 and Web3....

Read more

NFT Investor Accidentally Burns $135K CryptoPunk Trying to Borrow Money

by BlockNews Team
March 31, 2023
0
cryptopunk #685

NFT collector accidentally burns a $135K CryptoPunk while trying to borrow money through wrapping, sparking discussions on confusing user interfaces and wash trading in NFT markets. While trying...

Read more
Next Post
us tresury

Fed Begins Liquidity Injections after SVB and Signature Closure

Related News

Brail-Crypto

Brazil Registers Record Number of Institutions Declaring Cryptocurrency Holdings

October 10, 2022
Phantom Galaxy

Phantom Galaxies Project Review

August 29, 2022
bitcoin

U.S. Government Transfers $1B Bitcoin: Investors Spooked, Bitcoin Dips

March 13, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Crypto Clients Of Signature Bank Have Been Advised To Close Their Accounts Before April 5 March 31, 2023
  • Circle To launch USDC Stablecoin on Cosmos via Noble Network March 31, 2023
  • MetaMask Issues Warning Against Fake Airdrop Rumors March 31, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?