Key Takeaways
- Once 66.7% or more of the consensus stake reached this point, the network was unpaused.
- 64 validators, representing 85% of the CSPR staked on the network, agreed to restart validation.
The Casper Network has resumed operations following a temporary halt due to a security breach. On July 31 at 3:18 pm UTC, 64 validators, representing 85% of the CSPR staked on the network, agreed to restart validation.
A security vulnerability was discovered on July 26, affecting fewer than 15 accounts. The Casper team worked with validators, engineers, and other stakeholders to resolve the issue. The Casper team noted in an update that the pause in network operations posed a technical challenge, particularly since it occurred in the middle of an active era rather than at the end.
To fix the problem, two blocks containing four transactions were removed, effectively reversing those transactions on the blockchain. As per the official statements, efforts to contain the problem involved the Casper Association, Casper Labs, and the crypto project’s validator community.
The upgrade process involved deploying a new Casper-node binary and configuration files. Validators had to manually upgrade and implement the new version, which required real-time synchronization. A tool was also created to scan the entire blockchain to ensure no other exploits had occurred.
With the validators’ approval, the nodes were restarted, removing the problematic blocks and making the necessary global state changes. Once 66.7% or more of the consensus stake reached this point, the network was unpaused, and block creation resumed.
Casper Network’s exploit reflects a broader trend within the Web3 space where firms are becoming increasingly susceptible to hacks. In July alone, online hackers stole over $266 million from the crypto space and its investors through 16 separate attacks.
Last month, India-based crypto exchange WazirX lost a staggering $230 million in an exploit, representing 86.4% of the total crypto lost to hacks in the month.
