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.

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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.

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The post Cosmos Ecosystem Chains Affected By CosmWasm Vulnerability appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am