Casper Network resumes operations after recent security issues.
Casper Network has resumed operations after resolving the latest security breach. Two blocks were removed; A new Casper-node binary is deployed and scanned. Other July breaches affect WazirX ($230M), Compound Finance ($24M) and more.
Casper Network resumes operations after being temporarily halted due to security breach.
In the year On July 31, 2024, at 3:18 PM UTC, 64 validators, representing 85% of CSPR shares, unanimously agreed to resume network validation. This decision signaled the network's recovery and return to full functionality.
Two blocks have been removed from the Casper blockchain
The incident highlighted the critical importance of vigilance and proactive measures.
The Casper team worked with verifiers, engineers and other stakeholders to successfully resolve the breach through a coordinated and decentralized effort.
Not at the conclusion, but the interruption of the Middle Ages presented great technical challenges.
To solve the problem, the network removed two blocks containing four transactions, effectively orphaning these transactions and their impact on the blockchain.
New Casper-node binaries and standard configuration files were deployed, and a global scan of the blockchain was conducted to identify other potential exploits.
Validators played a critical role in the recovery process, manually initiating the update and applying the new software version. This step requires real-time synchronization.
Once at least 66.7% of the consensus stake approves the restart of the node, the problematic blocks are removed, and block creation resumes.
July saw several high-profile crypto security breaches.
While Casper Network has made significant progress in addressing the breach, other crypto entities experienced similar incidents in July.
Notably, Indian exchange WazirX experienced a $230 million theft and is developing a strategy to recover user funds.
Additionally, the breaches affected Compound Finance ($24 million), Li .Fi ($8 million), Bittensor and Rho Markets ($8 million each).
