Cosmos Ecosystem Chains Affected by Security Vulnerability
A high-severity security vulnerability has impacted several chains within the Cosmos ecosystem, including Injective, Celestia, Cronos, THORChain, Osmosis, Kava, Terra Luna Classic, and others. This vulnerability could disrupt the confirmation of new transactions on-chain, potentially leading to a network-wide outage.
CosmWasm Smart Contract Vulnerability Discovered
CertiK discovered a significant vulnerability in the CosmWasm smart contract platform and collaborated with Confio to develop a patch. Over 20 app chains were affected by this high-severity vulnerability, which allowed untrusted Wasm submissions to interfere with transaction confirmation.
Patch Released to Address the Issue
The CosmWasm team worked with CertiK to release an effective patch on January 10. The affected app chains were notified and preventive measures were taken without impacting users. Backports to CosmWasm versions 1.2, 1.3, 1.4, and 1.5 were also finalized.
Appreciation for CertiK and White-Hat Community
CosmWasm expressed gratitude to the CertiK team for their professionalism and commitment to security. They also acknowledged the efforts of the white-hat community in safeguarding the broader crypto ecosystem.
Impact on Cosmos Ecosystem Tokens
Only some tokens within the Cosmos ecosystem were affected by the vulnerability in recent weeks. The timely release of the patch and other measures prevented severe network outages.
Rally in Celestia (TIA) Price
The price of Celestia (TIA) has rallied over 50% in a week, with staked unique wallets surpassing 300,000. Currently, TIA is trading up 2% at $19.88 in the last 24 hours.
Positive Movement for Injective (INJ) Price
The price of Injective (INJ) has increased nearly 4% in the past 24 hours, trading at $39.30. Trading volume has also seen a marginal increase.
Decline in LUNC Price
The price of LUNC fell nearly 1% in the past 24 hours and is currently trading at $0.0001213.
Hot Take: Cosmos Ecosystem Chains Face Security Vulnerability but Tokens Remain Resilient
The Cosmos ecosystem chains recently faced a high-severity security vulnerability that could have led to network-wide outages. However, thanks to the timely release of a patch and preventive measures, severe disruptions were avoided. Despite the vulnerability’s impact on some tokens within the ecosystem, such as Celestia and Injective, these tokens have shown resilience and even experienced positive price movements. This incident highlights the importance of proactive security measures and collaboration within the crypto community to protect users and maintain the integrity of blockchain networks.
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