Casper

<p class="is-style-lead">Blockchain platform Casper Network announced to the community that a “significant security breach” that occurred yesterday has been contained.</p>
<h2 class="wp-block-heading" id="casper-network-suspends-operations">Casper Network suspends operations</h2>
<p>In an X post today, July 28, the team behind the Casper Network (<a href="https://crypto.news/price/casper-network/" target="_blank" rel="noopener noreferrer nofollow">CSPR</a>) <a href="https://x.com/Casper_Network/status/1817567910275014748" target="_blank" rel="noopener noreferrer nofollow">announced</a> that it is still resolving the issue, but that the security breach has been contained. The blockchain network’s official X account also promised further updates within the day. The post from today also notes that “a solution is being worked on.”</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CasperFam?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CasperFam</a>, <br><br>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 work on a solution is progressing. <br><br>Further updates will be provided Today at European…</p>— Casper (@Casper_Network) <a href="https://twitter.com/Casper_Network/status/1817567910275014748?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 28, 2024</a>
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<p>Yesterday, July 27, Casper Network —&nbsp;which currently has a market capitalization of just over $230 million — announced to the community on X that the chain had suffered a breach and that network activity had been halted.</p>
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   <p lang="en" dir="ltr">🚨 Dear Community,<br><br>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.<br><br>We will have further updates as we…</p>— 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>
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<p>However, <a href="https://www.tradingview.com/chart/PfG56Bes/" target="_blank" rel="noopener noreferrer nofollow">trading</a> of CSPR, the native cryptocurrency of the Casper Network, continues on exchanges despite the blockchain network’s suspension of operations. CSPR is down more than 15% over the past week.</p>
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  CSPR 4-hour price chart, July 21-28 | Source: <a href="https://crypto.news/price/casper-network/" target="_blank" rel="noopener noreferrer nofollow">crypto.news</a>
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<p>You might also like: <a href="https://crypto.news/wazirx-implements-socialized-loss-strategy-following-235m-hack/" rel="noopener noreferrer nofollow"> WazirX implements ‘socialized loss strategy’ following $235m hack </a></p>
<h2 class="wp-block-heading" id="other-recent-crypto-hacks">Other recent crypto hacks</h2>
<p>Earlier this month, Indian cryptocurrency exchange WazirX <a href="https://crypto.news/the-wazirx-hack-is-wreaking-havoc-on-crypto-heres-how/" target="_blank" rel="noopener noreferrer nofollow">suffered</a> a hack that resulted in the loss of user funds exceeding $230 million. Yesterday, the exchange <a href="https://crypto.news/wazirx-implements-socialized-loss-strategy-following-235m-hack/" target="_blank" rel="noopener noreferrer nofollow">announced</a> a controversial “socialized” user compensation program that would let affected users recover at least some of their stolen funds.</p>
<p>As crypto.news previously <a href="https://crypto.news/biggest-crypto-hacks/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, last year, crypto platforms and users lost a total of $1 billion from various hacks and breaches.<br></p>
<p>Read more: <a href="https://crypto.news/monoswap-suffers-hack-urges-users-to-withdraw-funds/&nbsp;  " rel="noopener noreferrer nofollow"> MonoSwap suffers hack, urges users to withdraw funds </a></p>

Casper Network says security breach contained, network still halted

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