Sign Up on MEXCCosmos Ecosystem Chains Affected By CosmWasm Vulnerability
Cosmos ecosystem chains were impacted by a significant high-severity security vulnerability, which can disrupt the confirmation of new transactions on-chain causing a potential network-wide outage. Some of the major Cosmos-based chains are Injective, Celestia, Cronos, THORChain, Osmosis, Kava, Terra Luna Classic, and others.
CosmWasm Smart Contract Security Vulnerability
CertiK recently uncovered a significant vulnerability in the CosmWasm smart contract platform within the Cosmos ecosystem and shared it with Confio for a patch to resolve the critical issue.
Over 20 app chains were impacted by the high-severity vulnerability. It allows untrusted Wasm submissions on chains to disrupt the confirmation of new transactions on-chain, which could have led to a potential network-wide outage.
The CosmWasm team worked in collaboration with CertiK to develop and release an effective patch on January 10. The affected app chains were notified to ensure preventive measures and address the issue without impacting users, while finalizing backports to CosmWasm 1.2, 1.3, 1.4, and 1.5.
“We extend our gratitude to the CertiK team for their professionalism and commitment to maintaining the security of CosmWasm and the broader crypto ecosystem. Our appreciation also extends to the dedicated community of white-hats, whose continuous efforts play a crucial role in safeguarding the broader crypto ecosystem,” said CosmWasm.
Also Read: Binance Files Joint Response To US SEC’s Terra Lawsuit Supplemental Authority
Performance Of Cosmos Ecosystem Tokens
Only some Cosmos ecosystem tokens’ prices were impacted by the vulnerability in the last few weeks. The timely release of the patch and other measures prevented severe network outages.
Celestia (TIA) price has rallied over 50% in a week amid several developments including staked unique wallets surpassing 300,000. TIA price trades up 2% at $19.88 in the last 24 hours.
Injective (INJ) price trades at $39.30, up nearly 4% in the past 24 hours. Trading volume has jumped marginally over the last 24 hours.
LUNC price fell nearly 1% in the past 24 hours, with the price currently trading at $0.0001213.
Also Read: Scammers Favor Tether (USDT) For Illegal Activities — Report
- Bitcoin Will 200x From Here, Twenty One Capital CEO Says as BTC Breaks $117K After Fed Rate Cut
- BNB Chain Takes Lead in RWA Tokenization, Expert Sees BNB Rally to $1,300
- Grayscale’s GDLC Fund Holding SOL and ADA Gets SEC Nod for NYSE Debut
- Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?
- Ripple Partners DBS, Franklin Templeton To Launch Trading And Lending Backed by RLUSD
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
