Casper

2024

when

Security

WazirX

Casper Network, a blockchain platform, has temporarily suspended all operations following a security breach. The network’s team discovered the breach and promptly collaborated with validators to halt the system, preventing potential exploitation and ensuring the safety of user assets.
The suspension occurred at block 3,329,418, era 14544, freezing all transactions including transfers, minting, and staking. This decisive measure aims to protect users and assets while the underlying issue is thoroughly addressed.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨 Dear Community, We discovered a significant security breach on the Casper Network. In order to minimize the effects of this security breach, we have worked with the validators to halt the network until this security breach has been patched. We will have further updates as we…— Casper (@Casper_Network) <a href="https://twitter.com/Casper_Network/status/1817145818631098388?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 27, 2024</a>
 </blockquote>
 </div>
</figure>
The Casper Association, Casper Labs, and the network’s validator community are working together to resolve the problem. An official statement from Casper Network confirms that the security breach has been contained and its cause identified.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Casper Association, Casper Labs and the Validators/community are actively working to resolve the issue. The network has been halted and the security breach is contained. The issue has been identified and a solution is being worked on. Further updates will be provided.— Casper (@Casper_Network) <a href="https://twitter.com/Casper_Network/status/1817252082560258372?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 27, 2024</a>
 </blockquote>
 </div>
</figure>
The network has also announced plans to release a detailed post-mortem report, explaining the breach and the steps taken to address it.&nbsp;
Additionally, any code updates resulting from this event will be made publicly available on Casper’s GitHub repository, demonstrating a commitment to transparency and accountability.
While the Casper Network team has not provided a specific timeline for when operations will resume, users and stakeholders are advised to stay informed through official Casper Network communication channels for further updates on the situation.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/27/wazirx-announces-recovery-plan-post-230m-hack/" rel="noopener noreferrer nofollow">WazirX Announces Recovery Plan Post $230M Hack</a>
</blockquote>

Casper Network Halts Operations After Security Breach

The Crypto Times

Other articles published on Jul 28, 2024

BinaryX Announces Historic Vote to Burn 74% of BNX Tokens

Crypto Mining Poses National Security Risks – Senator Elizabeth Warren

Swiss regulator FINMA targets stablecoin issuers in new proposal

Bitcoin in the United States: The amazing results of a new study

Bitcoin Boosts Investor Sentiment to 16-Month High

Donald Trump Receives Extended Support From Bitgo CEO & JD Vance

Join our free newsletter for daily crypto updates!