Blockchain security firm Halborn has discovered a vulnerability on Dogecoin and over 280 other networks.
Security firm Halborn identified “several critical and exploitable” vulnerabilities in Dogecoin’s open-source code. The Dogecoin team fixed the code, but upon further investigation, the firm discovered similar “Rab13s” vulnerabilities in more than 280 networks, including Litecoin and Zcash.
The firm further believes that this vulnerability could put over $25 billion worth of crypto assets at risk.
Dogecoin at risk of 51% attack
Rab13’s vulnerability allows bad actors to perform a 51% attack on the blockchain. The Halbourne team found malicious code inside the network’s peer-to-peer (P2P) messaging mechanism, which makes it vulnerable to attack because of its simplicity.
Rob Behnke, Halborn’s chief executive officer (CEO), writes, “With this vulnerability, an attacker could send malicious consent messages to different nodes, causing each to shut down and eventually lead to risks such as 51% attacks and other critical exposes the network to problems.”
A 51% attack on a cryptocurrency blockchain occurs when a group of miners controls more than 50% of the mining hash rate on the network. Because miners own at least 51% of the blockchain, they have the power to change the network.
How is Halbourne dealing with the bug?
The firm has shared the tech with the network’s stakeholders so that they can issue necessary patches to the community and miners. They won’t make much technical information public so it’s not accessible to people with malicious intent.
Halborn also invites affected networks to contact them.
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