- The Casper Network team quickly worked with validators to put the network on suspension.
- At block 3,329,418, era 14544, validators essentially froze all activity.
A security vulnerability forced the temporary suspension of all activities on the Casper Network, a blockchain platform known for its decentralized applications. After discovering the hack, the Casper Network team quickly worked with validators to put the network on suspension.
In order to lessen the blow of the security compromise and forestall any possible exploitation, this step was taken. Until the vulnerability is fixed, transactions will not be completed due to the network stop.
Collaborative Endeavor
Moreover, the validator community, Casper Labs, and the Casper Association are all collaborating to fix the problem. Also, the goal of this collaborative endeavor is to efficiently discover a solution by combining the resources and experience.
According to a formal announcement made by Casper Network, the security vulnerability has been successfully managed. The team is now focusing on resolving the root cause of the incident. The goal of this procedure is to fix the breach in its entirety and stop similar ones from happening in the future.
At block 3,329,418, era 14544, validators essentially froze all activity by stopping all transactions, including transfers, minting, and staking. Release of a post-mortem report and subsequent public release of code modifications to Casper’s GitHub repository are both announced in its Telegram group.
Furthermore, a larger pattern of crypto community security vulnerabilities is mirrored by the Casper Network event. A similar incident occurred on July 18 at WazirX, a renowned Indian crypto exchange. Thus, prompting the launch of a customer compensation plan.
Unlike WazirX, which failed to discover any evidence of compromised devices belonging to WazirX signers during an initial examination of the attack that occurred on July 18, the Casper team has identified the core source of the breach.
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