cryptocurrency trends

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Multichain vulnerability put a billion dollars at risk, says security firm

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The Multichain bug that has led to the theft of $2 million in crypto (so far) could have been “enormous,” according to the company that disclosed the vulnerability last week. Blockchain security firm Dedaub, which disclosed the bug on January 10, has published a blog post providing more details. It said that the amount of money at risk could have been worth more than $1 billion. “​​Given the above, the potential practical impact (had the vulnerability been fully exploited) is …

DeFi attacks: the fourth part of the recap

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December 7, 2021, 10:42AM EST • 9 min read Quick Take DeFi users lost $67M this summer in various exploits. The amount could have been ten times more, but in the case of Poly Network, the attacker returned $611M. Unlike previous exploits, some were aimed at cross-chain infrastructure. Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. …

ZenGo X fixes double-spending vulnerability affecting BitClout

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ZenGo X, the research arm of crypto wallet provider ZenGo, says it discovered a double-spending vulnerability related to BitClout, an app on the Decentralized Social (DeSo) network. The security vulnerability in question involved a potential double-spending exploit that ZenGo X’s senior researcher Matan Hamilis said could drain funds held in BitClout’s reserve called Gringotts Bank.  DeSo rewarded ZenGo $75,000 — the highest-ever by the project — for discovering and reporting the vulnerability. ZenGo X also stated that the security did …

A surprising number of Solana projects are closed-source

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Quick Take Of the $10.7 billion locked in Solana’s top 10 projects, around $5 billion sits with closed-source projects.  But Solana’s founders are pushing for projects to open up, and the message seems to be getting through.   This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.