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Also this: A security company has found a security hole in Dogecoin, Zcash & Litecoin. Over $25 billion in assets are at risk. The bug seems to be partially patched.
Some blockchains contain massive vulnerabilities, according to a March 13 report from blockchain security firm Halborn. The vulnerabilities are summarized under the collective term “Rab13s”.
Security issue at DOGE, ZEC & LTC
According to Halborn, a review of the Dogecoin code was commissioned in March 2022. The company reports that the project has now patched all the vulnerabilities found.
Zcash also announced on March 13 that it had released an update that fixes the vulnerability. The project says the vulnerability originated in the Bitcoin Core code. There would be no evidence of an attack on Zcash itself.
Litecoin appears to have released an update on March 12 that fixes the vulnerability – although it doesn’t directly mention Halborn or their findings.
Horizen also says that Halborn added the potential vulnerability. He disclosed the vulnerability and released a fix on March 13.
The largest vulnerability allows attackers to take blockchain nodes offline by sending consensus messages to those nodes. By shutting down nodes, an attacker could enable a 51% attack against the blockchain network in question. Later, the attacker could launch a double attack or otherwise damage the network.
A second vulnerability allows the attacker to stop nodes via an RPC request, and a third vulnerability allows attackers to execute code via RPC. Both attack vectors require valid credentials and are therefore difficult to execute.
Hundreds of blockchains at risk
According to Halborn, more than 280 other blockchain networks have variations of those vulnerabilities — so the company has shared exploit kits with these projects.
The security firm emphasizes that some issues are already known Bitcoin vulnerabilities, although other attack vectors are unique to Dogecoin and other networks. According to the blockchain security firm, not every network can be exploited.
The currently widespread problem could put more than $25 billion in cryptocurrencies at risk, Halborn says. It remains to be seen how the respective coins will deal with the situation now.
The promise of Dogecoin alternatives
While Dogecoin investors are still recovering from the shock of the vulnerability, a new meme coin is pushing forward. Love Hate Inu (LHINU) wants to overtake dogecoin and scores with smart use: Here users can vote on a wide range of topics and thus earn crypto money – the concept is called Vote-to-Earn, and it clearly strikes a chord. The project has already raised more than half a million dollars in capital. Currently 1 MONTH costs 0.000085 USDT, in 3 days and 16 hours the price will increase to 0.00009 USDT.
Text credit: Cryptoslate
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