BlockThreat - Week 3, 2021
Firo | Nano | LivePeer | Saddle | Tendermint
|Peter Kacherginsky||Jan 25|
It didn’t take too long to see more layer one blockchain attacks. Firo 51% attack is particularly interesting due to a new precedent where asset issuers were held responsible for compensating a double spent exchange. Tendermint fixed a yet unreported critical vulnerability and Nano was slammed with a spam attack. On the DeFi side, LivePeer fixed a staking vulnerability. This week’s edition features plenty of excellent research papers and article for your reading pleasure.
January 28-31, 2021 - Anti-Human Trafficking Cryptocurrency Consortium (ATCC) Virtual Summit featuring multiple panels. Free admission.
February 2, 2021 - Unchained - Blockchain Security Conference CFP deadline.
On January 19, 2021 Firo (formely Zcoin) suffered from a 51% attack where for 25 hours 306 blocks were reorged. Firo team published a post-mortem report which revealed Binance as the target with 866K FIRO ($4M worth) double spent. The Firo team took advantage of Lelantus emergency switch to freeze attacker’s funds. As a new precedent, Firo team will likely compensate Binance by mining the same amount of Firo as locked in the attacker’s account and sending those funds to the exchange.
On January 19, 2021 Saddle Finance DeFi project suffered from multiple arbitrage incidents due to high slippage.
LivePeer DeFi project fixed a staking vulnerability which could allow attackers to withdraw more LPT and ETH than expected.
Tendermint fixed a high-severity vulnerability details of which will be published later next week.
Griefing attacks against Lightning Network continue to plague the experimental network.
MrbMiner cryptominer traced to Iran. The malware targets MSSQL servers.
Chainalysis report on cryptocurrency crime in 2020 identifies multi-billion Ponzi schemes like PlusToken as the largest source of theft. Ransomware profits increased by 311% over previous year netting evildoers $350 million.
MyCrypto report on major blockchain security incidents in 2020 discusses major scammer campaigns and DeFi/exchange hacks.
Was there a Bitcoin double-spend on Jan 20, 2021? Explanation of the recent FUD which caused multiple sell-offs.
Writing Properties - A new approach to testing by Joran Honig on smart contract audits using Scribble.
DeFi Sandwich Attacks by Christoph Michel.
Making DeFi SAFU by Secureum.
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- Peter Kacherginsky (iphelix)