Cosmos (ATOM) Blockchain based on altcoin Juno, went offline as a result of the attack against the network.
Juno continues to be offline at the time of this writing, but according to the developer team’s statement, users’ funds have not suffered any damage and work is underway to resolve the issue.
The Juno developer said in a statement that the attack on the network was caused by a malicious smart contract camouflaged with an extremely simple appearance.
Update on the Juno situation. We have tested the upgrade path and it is working. It’s now time to set a restart time for @JunoNetwork. Restart will be tomorrow at 21:00 UTC. This should be early morning Asia, midday Americas, Evening Europe. Long live JUNO! Lets go validators.
— Jack Zampolin (@jack_zampolin) April 7, 2022
The suspected attacker has sent over 400 sequences of transactions via smart contracts over the past three years, and it seems that after a trial and error process, he was able to find the combination that caused the network to crash.
speaking to the press altcoin The developer said that the attacker exploited a blockchain vulnerability that was scheduled to be fixed by releasing an update a few hours after the attack. The developer stated that they shared the vulnerability with the public because it affects all Blockchains using the CosmWasm smart contracts platform.
Is Angry Whale Responsible for the Attack?
This development was recorded as Juno’s second major challenge in the last month. As a result of a controversial management vote on the altcoin platform in March, the whale was found to have cheated in the airdrop in the early days of JUNO. cryptocurrencies had been taken. This made history as the first instance in the world of decentralized finance (DeFi) where the community confiscated coins from a wallet.
For this latest attack, where the attackers could not gain any financial gain, some users pointed to the whale whose coins were taken away last month.
*Not investment advice