Casper Network Resumes Operations After Security Breach

The Casper Network has resumed its operations following a temporary shutdown caused by a security breach.

On July 31, 64 validators, holding 85% of the network’s staked CSPR, voted to restart validation, bringing the network back online.

According to a recent post, the breach was resolved through a collaborative effort from validators, engineers, and other stakeholders. The network had paused operations in the midst of an active era, complicating the situation. To address this, two blocks with four transactions were removed, which required deploying an updated Casper-node binary and standard configuration files.

Validators were required to manually upgrade and synchronize the nodes in real time. A new tool was also introduced to scan the blockchain from its inception to ensure no further exploitation had occurred. Once 66.7% of the consensus stake approved the restart, the network resumed block creation.

READ MORE:

Ark Invest Continues to Sell Coinbase Shares from ARKW ETF

In contrast to Casper Network’s swift resolution, Indian cryptocurrency exchange WazirX, which also faced a security breach leading to a $230 million theft, has announced its strategy for recovering user funds. Unlike WazirX, the Casper team has made notable progress in diagnosing the root cause of their breach.

Other notable crypto incidents in July include breaches at Compound Finance, Li​.Fi, Bittensor, and Rho Markets, totaling millions in losses.

Alexander Stefanov