Possibilities of Security Concerns Prompting Cosmos Developers to Warn About Liquid Staking Module After North Korean Links
The post Possibilities of Security Concerns Prompting Cosmos Developers to Warn About Liquid Staking Module After North Korean Links appeared on BitcoinEthereumNews.com.
Recent developments in the Cosmos network have raised serious concerns about the integrity of its Liquid Staking Module (LSM). These issues have been exacerbated by allegations of North Korean involvement, which has caused a significant drop in the network’s token value. As security flaws become apparent, Cosmos developers are pushing for drastic changes, including the potential removal of the LSM. Cosmos developers are taking significant steps to address serious security threats posed by the Liquid Staking Module, including ties to North Korean agents, as investor confidence wanes. Developers Move to Remove Liquid Staking Module Amid Security Concerns In a critical shift, developers associated with the Cosmos network are moving to eliminate the Liquid Staking Module (LSM) from the Cosmos Hub. This action follows alarming reports from blockchain development firm All in Bits (AiB) regarding substantial security vulnerabilities present within the LSM, compounded by connections between the module’s development and North Korean operatives. The urgency of this decision is underscored by a notable decline in the value of Cosmos’ ATOM token, which has dropped over 2.5% over the past day, making the ATOM token valued at $4.44 at the time of reporting. North Korean Links Spark Security Alarm According to findings released by AiB, a significant share of the LSM’s development was reportedly completed by actors linked to the North Korean government. This revelation has sent shockwaves through the Cosmos ecosystem, as the LSM is designed as an extension of existing Cosmos staking modules. The interdependent nature of its architecture raises the stakes, indicating that a security breach in the LSM may endanger the entire staking framework and all staked ATOM tokens. Moreover, AiB accused leading developers Iqlusion and Zaki Manian of a lack of transparency concerning these dangerous affiliations; they allegedly failed to inform the community about the potential risks…
Filed under: News - @ October 16, 2024 3:27 pm