Hundreds Of Blockchain Projects Threatened With Vulnerabilities Except For Dogecoin, ZCash, And Litecoin

Dogecoin, Litecoin, and Zcash are said to have successfully overcome vulnerabilities in the network. (Photo; Doc. Block)

JAKARTA - A number of popular blockchains such as Dogecoin, Zcash, Litecoin, and Horizens have overcome security vulnerabilities in their projects, according to a report from blockchain security firm Halborn on March 13. Halborn called these vulnerabilities "Rab13s" and said that more than 280 other blockchain networks have variations of this vulnerability.

While some problems stem from previously known vulnerabilities in Bitcoin, there is also a unique attack path for Dogecoin and other networks.

According to Halborn, the main vulnerability in Rab13s allows attackers to create blockchain nodes that have not been fixed offline by sending consensus messages to the node.

This could allow attackers to carry out 51 percent attacks on relevant blockchain networks and carry out multiple expenditure attacks or damage the network. There are also two secondary vulnerabilities that allow attackers to stop nodes through RPC requests and execute code through the RPC.

To solve this problem, Dogecoin, Zcash, and Horizens have released an update that fixed the vulnerability on March 13. Meanwhile, Litecoin appears to have fixed the vulnerability on March 12. However, Litecoin did not directly mention Halborn or their findings.

Halborn said that they had shared exploit kits with blockchain projects that were exposed to vulnerabilities. While not all exploitation can be done across the network, this widespread problem could put more than US$25 billion (Rp384 trillion) in cryptocurrencies at risk. Therefore, timely updates are essential to ensure the safety and stability of blockchain networks.

Security vulnerability on blockchain is not new, however, as technology, security and privacy develops, it is becoming a major concern. Therefore, companies and blockchain projects must ensure that they always update their security systems to overcome vulnerabilities and maintain the security of their networks.

As a consumer, it is important to conduct research before investing in crypto and ensure that the platform or exchange used is safe and reliable.

In the face of security vulnerabilities, proper communication between blockchain security companies and blockchain projects is essential. Halborn demonstrates the success of helping blockchain projects to overcome Rab13s vulnerabilities by providing exploit kits.

Therefore, cooperation between blockchain security companies and blockchain projects can help improve security and privacy in the blockchain industry.