• Latest
  • Trending
Lido and Rocket Pool Deploy Temporary Patches for Staking Node Vulnerability

Lido and Rocket Pool Deploy Temporary Patches for Staking Node Vulnerability

October 7, 2021
Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

June 26, 2022
Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

June 26, 2022
SFLMaven CEO Joe Ladin Joins MoneyTV for an Update on Sales Growth and the Company’s Recent Launch of the World’s First Metaverse Digital Vintage Jewelry Store

SFLMaven Announces Development Work Now Underway on New Boutique Digital Jewelry NFTs to be Sold Through Recently Launched SFLMaven Metaverse Store

June 26, 2022
Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

June 26, 2022
What is DFI Money and Why is It Surging?

What is DFI Money and Why is It Surging?

June 25, 2022
Crucial Decision on Testnet Hard Fork to Be Made Next Week

Crucial Decision on Testnet Hard Fork to Be Made Next Week

June 25, 2022
Misleading Metrics Like Accuracy Are Not Worth Your Time | by Dylan Cunningham | The Capital | Jun, 2022

Misleading Metrics Like Accuracy Are Not Worth Your Time | by Dylan Cunningham | The Capital | Jun, 2022

June 25, 2022
Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

June 25, 2022
How to make money with NFTs: Liquidifty experts share secrets

How to make money with NFTs: Liquidifty experts share secrets

June 25, 2022
  • Contact Us
  • Privacy Policy
Sunday, June 26, 2022
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

Lido and Rocket Pool Deploy Temporary Patches for Staking Node Vulnerability

Automatic by Automatic
October 7, 2021
in Crypto Technical Analysis, Top News
0
Lido and Rocket Pool Deploy Temporary Patches for Staking Node Vulnerability
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Ethereum (ETH)

Lido and Rocket Pool Deploy Temporary Patches for Staking Node Vulnerability

Lido, a staking pool provider for Ethereum 2.0 staking, has successfully patched a security flaw discovered on its platform.The security flaw had caused a scare among Lido’s users, promoting the protocol to delay its launch to get things patched up.

Issues With the Smart Contract Architectures

On Monday, Dmitri Tsumak, the founder of Lido’s competitor StakeWise, announced the discovery of a vulnerability in its staking protocol that would allow node operators to remove funds from ETH 2.0 staking pools. Tsumak had initially identified the exploit in the architecture of Rocket Pool – a third protocol, which is set to launch soon.

After finding out that the protocol would also significantly affect Lido, Tsumak immediately raised the alarm. Lido is currently the largest ETH 2.0 staking pool built on the Ethereum blockchain, with a total value locked at over $4 billion.

Any vulnerabilities to its platform would have been fatal, so Tsumak’s discovery was an important one. Both venues were said to have been suffering from the same issue but in different iterations.

Speaking with industry news sources, Tsumak claimed that he had agreed with Rocket Pool, Lido, and Immunefi – the leading bug bounty protocol for the decentralized finance (DeFi) space – not to include any details about the bug. Rocket Pool and Lido would work on a patch to ensure that everything stays functional going forward.

The bug also had pretty broad ramifications. While Lido had mentioned that “under 100 ETH” was vulnerable, a separate vulnerability disclosure report showed that the number was more than 20,000 ETH.

Off to the Races

For now, Rocket Pool and Lido have implemented temporary patches to ensure the security of users’ funds. But, the problem is far from fixed, so both platforms are still working to get a permanent solution.

They’ve been debriefing their users on social media on developments since the vulnerabilities became public knowledge. Lido assured investors of safety despite its security glitch.

After acknowledging the bug on Monday, Lido proposed a vote to reduce staking limits for all node operators in a bid to reduce the risk posed to its protocol. The company described the bug as “low-impact,” adding that it could only be exploited by the whitelisted node operators.

For its part, Rocket Pool has also delayed its launch. Tsumak had found the vulnerability 24 hours before the platform launched fully, and it is taking steps to rectify things.

The company confirmed yesterday that while the vulnerability was “minimal,” it wouldn’t be taking any chances with customers’ funds. So, it has delayed its launch indefinitely and will announce a new launch date soon.

Rocket Pool also expressed gratitude to Tsumak and the StakeWise team for reporting the bug, despite being a rival to both affected parties.

Jimmy Aki

Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system. When not immersed in the daily events in the crypto scene, he can be found watching legal reruns or trying to beat his Scrabble high score.





Source link

Related articles

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

June 26, 2022
Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

June 26, 2022
ShareTweetShareShare
Previous Post

No, Elon Musk’s Shiba Inu Tweet Isn’t Pumping SHIB’s Price

Next Post

The Coinbase Ventures Guide to NFTs

Related Posts

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

by Automatic
June 26, 2022
0

Ever since early Bitcoin (BTC) investors woke up millionaires as the ecosystem gained tremendous popularity alongside the mainstreaming of the...

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

by Automatic
June 26, 2022
0

Tomiwabold Olajide Large transaction surges are typically linked to increased activity from whales According to IntoTheBlock data, Dogecoin whales, or...

SFLMaven CEO Joe Ladin Joins MoneyTV for an Update on Sales Growth and the Company’s Recent Launch of the World’s First Metaverse Digital Vintage Jewelry Store

SFLMaven Announces Development Work Now Underway on New Boutique Digital Jewelry NFTs to be Sold Through Recently Launched SFLMaven Metaverse Store

by Automatic
June 26, 2022
0

FORT LAUDERDALE, FL, June 24, 2022 (GLOBE NEWSWIRE) — SFLMaven Corp. (OTC Pink: SFLM), (“SFLMaven” or the “Company”) (www.sflmaven.com), a...

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

by Automatic
June 26, 2022
0

On-chain data shows Bitcoin whales are transferring large amounts to derivatives exchanges right now, a signal that more volatility could...

What is DFI Money and Why is It Surging?

What is DFI Money and Why is It Surging?

by Automatic
June 25, 2022
0

The YFII price has rebounded sharply in the past few days as investors buy the coin’s dip. The token is...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store

Top News

Enhance Basic Tech Capacity & Provide All-encompassing Products & Services

The Sandbox offers a long-term buying opportunity after a recent sell-off

Fiat Money Poisons Everything. Fiat money destroys lives | by Jonathan Garner | The Capital | May, 2022

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT