1. BITBILIHome
  2. Article

Libbitcoin Explorer’s Version 3.x faces severe security breach, users’ funds endangered

• 31 views

TL;DR Breakdown

  • SlowMist warns of a critical vulnerability in Libbitcoin Explorer 3.x, jeopardizing crypto wallets.
  • The vulnerability is traced to flawed pseudo-random number generator implementation.
  • Users who used Libbitcoin Explorer 3.x for wallet seed generation are at risk of private key exposure.

Description

Blockchain security firm SlowMist has issued a cautionary blog post alerting users to a critical vulnerability within version 3.x of the widely-utilized Libbitcoin Explorer. This vulnerability has raised concerns about the security of various cryptocurrency wallets and reportedly resulted in an approximate loss of $900,000, as reported by Milk Sad. Interestingly, this blog post draws … Read more

Blockchain security firm SlowMist has issued a cautionary blog post alerting users to a critical vulnerability within version 3.x of the widely-utilized Libbitcoin Explorer. This vulnerability has raised concerns about the security of various cryptocurrency wallets and reportedly resulted in an approximate loss of $900,000, as reported by Milk Sad. Interestingly, this blog post draws intriguing parallels to past susceptibilities uncovered in Trust Wallet.

The core of the issue, according to SlowMist, lies within Libbitcoin Explorer’s implementation of a pseudo-random number generator (PRNG). By employing the Mersenne twister technique and 32 bits of the system’s time as a seed, PRNGs become susceptible to potential breaches that could compromise users’ private keys.

Individuals who employed Libbitcoin’s explorer 3.x to generate their cryptocurrency wallet’s seed may find their private keys in jeopardy. Various digital currencies, including Ethereum, Bitcoin, Solana, Dogecoin, Litecoin, Zcash, and Bitcoin Cash, are currently exposed to this vulnerability.

Interestingly, some have pointed out that the security flaw in Libbitcoin Explorer was seemingly identified on the project’s GitHub page around six years ago. However, apparent efforts have yet to be made to rectify the issue.

This development raises significant questions regarding the security of popular blockchain tools and the apparent delays in addressing potentially devastating vulnerabilities. Consequently, users and stakeholders are left to ponder the effectiveness of security measures employed by such widely-used platforms.

Moreover, this incident underscores the importance of comprehensive security audits within the blockchain and cryptocurrency sphere. Besides the immediate financial implications, the broader concern pertains to the potential compromise of user data and the trustworthiness of key industry players.

The disclosure of this significant vulnerability in Libbitcoin Explorer’s version 3.x is a potent reminder that even established platforms are not immune to security challenges. The incident propels the industry to reevaluate its approach to code review, security patching, and prompt response to identified issues.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Libbitcoin Explorer’s Version 3.x faces severe security breach, users’ funds endangered

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月11日 23:53
Next 2023年8月12日 00:48

Related articles

  • Congressman Ritchie Torres asks SEC to stop its assault on crypto

    TL;DR Breakdown Congressman Ritchie Torres has urged the SEC to review its strict approach toward cryptocurrencies. Torres criticized the SEC’s use of the Howey Test and suggested digital assets could be part of securities contracts. He also highlighted the SEC’s lack of clear communication with the industry, stressing the current regulatory uncertainty. Description US Congressman Ritchie Torres has written a scathing letter to the SEC Chair, Gary Gensler, urging SEC to stop its assault on cryptocurrencies. In the aftermath of a decisive lawsuit loss against Ripple Labs, wherein the court ruled XRP was not a security, Torres questioned the SEC’s continued, harsh scrutiny of digital assets in one … Read more US Congressman Ritchie Torres has written a scathing letter to the SEC Chair, Gary Gensler, urging SEC to stop its assault on cryptocurrencies. In the aftermath of a decisive lawsuit loss against Ripple Labs, wherein the court ruled XRP was not a security, Torres questioned the SEC’s continued, harsh scrutiny of digital assets in one of his recent letters.  The Bronx representative criticized the SEC’s usage of the Howey…

    Article 2023年7月19日

  • Brian Armstrong calls on U.S. lawmakers to sign on crypto bills

    TL;DR Breakdown Brian Armstrong urges U.S. citizens to support the Financial Innovation and Technology for the 21 Century Act (FIT21), aiming to provide regulatory clarity for crypto. Armstrong believes FIT21 could protect American digital assets, stimulate innovation, create jobs, and fortify national security. Description In a drive to press forward the growth of the cryptocurrency industry, Brian Armstrong, the CEO of Coinbase, is turning the heat up on U.S. lawmakers. He’s called for action, using his influential position to push for the approval of two crucial cryptocurrency bills. This urging is not without substance or reason but stems from … Read more In a drive to press forward the growth of the cryptocurrency industry, Brian Armstrong, the CEO of Coinbase, is turning the heat up on U.S. lawmakers. He’s called for action, using his influential position to push for the approval of two crucial cryptocurrency bills. This urging is not without substance or reason but stems from Armstrong’s vision to provide the crypto space with the much-needed regulatory clarity it sorely needs. Armstrong’s battle for crypto’s regulatory clarity The bills,…

    Article 2023年7月28日

  • Community Approves Proposal to Reinstate IBC Between Terra Luna and Cosmos Chain

    TL;DR Breakdown Proposal 271, aimed at re-enabling IBC between Terra Luna Classic and Crescent, has passed with 99.98% votes in favor, indicating strong community support. Despite current market fluctuations, the community remains hopeful about the potential benefits of this decision, including enhanced liquidity and efficiency in the blockchain ecosystem. Description In a significant development in the blockchain world, the community has voted unanimously in favor of a proposal to re-enable inter-blockchain communication (IBC) between Crescent and Terra Luna Classic. This decision comes as a result of Proposal 271, aptly titled “Re-enable IBC Client to Terra Classic.” The proposal has not only passed but has done … Read more In a significant development in the blockchain world, the community has voted unanimously in favor of a proposal to re-enable inter-blockchain communication (IBC) between Crescent and Terra Luna Classic. This decision comes as a result of Proposal 271, aptly titled “Re-enable IBC Client to Terra Classic.” The proposal has not only passed but has done so with overwhelming support, receiving 99.98% of votes in favor, while a minuscule 0.02% voted against it….

    Article 2023年8月7日

  • Lawsuit targets FTX law firm over shady setup

    TL;DR Breakdown Fenwick & West LLP faces class-action lawsuit over alleged involvement in FTX’s multi-billion-dollar scandal. The law firm is accused of creating “shadowy entities” to divert FTX customer funds. FTX collapsed in November 2022, unable to handle massive customer withdrawals. Description Dark clouds gather over Fenwick & West LLP, formerly FTX’s primary counsel, as they find themselves in the eye of a stormy class-action lawsuit. This tumultuous legal action alleges that the law firm played a role in the crypto exchange’s supposed multi-billion-dollar scandal. Fenwick & West LLP’s suspicious entanglement FTX customers have rallied to file … Read more Dark clouds gather over Fenwick & West LLP, formerly FTX’s primary counsel, as they find themselves in the eye of a stormy class-action lawsuit. This tumultuous legal action alleges that the law firm played a role in the crypto exchange’s supposed multi-billion-dollar scandal. Fenwick & West LLP’s suspicious entanglement FTX customers have rallied to file a suit in California’s District Court, aiming their criticism at the law firm’s questionable involvement in FTX’s business maneuvers. They accuse Fenwick & West LLP…

    Article 2023年8月10日

  • I asked AI to predict when Ether will hit its all-time high again, and I am shocked

    TL;DR Breakdown GPT-4, an advanced AI model, has made a bold prediction about Ethereum hitting a new all-time high by January 15, 2024. This prediction is based on ETH’s current bullish outlook, optimistic market sentiment, and developments such as the adoption of its Proof of Stake mechanism. The forecast has stirred excitement and anticipation in the crypto community, marking a significant potential milestone for the cryptocurrency. I recently engaged in an enlightening dialogue with an AI model, GPT-4, renowned for its analytical prowess. This encounter led to a startling prediction concerning Ethereum, the second-largest cryptocurrency by market capitalization. Decoding GPT-4’s Ethereum prediction Artificial Intelligence continues to disrupt various sectors, with the finance and cryptocurrency landscape being no exception. Renowned for its deep learning capabilities, GPT-4 has emerged as an insightful commentator in the digital currency ecosystem. Recently, I interacted with this cutting-edge model to discuss Ethereum’s outlook, given its current market status. At the time of our exchange, the largest altcoin was trading at $1,873, within a narrow price range. Engaging in an insightful dialogue, GPT-4 articulated a thought-provoking analysis…

    Article 2023年6月6日
TOP