IBC Protocol Vulnerability Fixed: Cosmos Safeguards $126M Asset Value
Cosmos developers swiftly addressed a critical security vulnerability within the Inter-Blockchain Communication (IBC) protocol, safeguarding assets valued at over $126 million. Prompted by a private alert from Asymmetric Research.
This vulnerability, present since the protocol’s inception in 2021. Became exploitable due to recent codebase enhancements but was resolved before any funds faced compromise, preventing any malicious exploitation. Asymmetric Research stressed the significance of ongoing research and development efforts to fortify cross-chain security measures. Enhancing protection for the multichain ecosystem against potential threats.
Clever Robot News Desk 25th April 2024
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