Casper Network resumes operations after the latest security incident

• Casper Network has resumed operations after the recent security violation is fixed.
• Two blocks were removed; A new Casper-Node-Binär File was provided and scanned.
• Other violations in July concerned Wazirx ($ 230 million), Compound Finance ($ 24 million) and others.

The Casper network has resumed operation after a temporary interruption due to a security violation.

On July 31, 2024 at 3:18 p.m. UTC, 64 validers, which represented 85 % of the CSPR used, unanimously approved the resumption of network validation. This decision marked the restoration of the network and the return to full functionality.

Two blocks removed from the Casper blockchain

The incident made it clear how important vigilance and proactive measures are in the constantly developed area of blockchain technology.

The Casper team managed to fix the security gap through a coordinated and decentralized effort in cooperation with examiners, engineers and other participants.

The disorder did not appear at the end, but in the middle of an era and represented considerable technical challenges.

To fix the problem, the network removed two blocks with four transactions, which means that these transactions and their effects on the blockchain were effectively orphaned.

A new Casper-Node Board file and standard configuration files were provided and a global scan of the blockchain was carried out to identify other potential exploits.

validators played a crucial role in the recovery process by manually initiated the upgrade and implemented the new version of the software. This step required precise real -time synchronization.

After at least 66.7% of the consensus participation had agreed to restart the node, the problematic blocks were removed and the block creation continued.

In July there were several serious security violations in cryptocurrencies

While Casper Network made considerable progress in the resolution of the violation, other crypto companies were faced with similar incidents in July.

In particular, an amount of $ 230 million was stolen from the Indian Stock Exchange Wazirx, and a strategy for restoring user money is currently being developed.

In addition, Compound Finance ($ 24 million), Li .Fi ($ 8 million), Bittensor and RHO Markets (8 million US dollars each) were affected.