Another Blockchain Network Hacked – Staking Activities Paused

This month has seen an increase in crypto hacks, with the latest involving the Casper Network on July 27.

On July 27, Casper Network reported a significant security breach via Twitter. To prevent further damage, they immediately halted the network at block 3,329,418, stopping all transactions, minting, and staking activities.

Casper Network assured users the breach is contained and they are working on a solution. They are currently assessing the damage and will share a detailed report once the investigation is complete. Only a few major accounts were affected, and trading of the CSPR token remains unaffected.

The Casper Network breach follows other recent hacks, including a major attack on India’s largest crypto exchange, WazirX, and a $7.6 million theft from Scroll Network’s lending protocol.

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These incidents raise serious concerns about the security of investors’ funds, highlighting vulnerabilities in crypto projects and prompting questions about achieving blockchain-level security.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.