The Litecoin team provided an update following an alleged software bug that caused invalid transactions to appear on the network's privacy layer.
Valid transactions that occurred during the affected blocks were not impacted and remain on the main chain, the Litecoin development team said. Litecoin, a layer-1 proof-of-work blockchain network, was hit by a “zero-day” vulnerability on Saturday, which caused a 13-block reorganization of the chain, according to the Litecoin team. while other developers say the bug may have been previously known.
The bug caused a denial of service attack on mining pools with newly updated software, suppressing their hashing power, according to anThis allowed older nodes to “peg out” coins to decentralized exchanges and cross-chain swap protocols, resulting in invalid transactions being posted to the network’s MimbleWimble Extension Blocks privacy layer, according to the team. The updated nodes eventually regained control of the network’s hashing power, executing a 13-block reorganization that reversed the invalid transactions, which will not appear on the main chain.
The bug has now been fully patched, the Litecoin team said. The incident comes amid an uptick in zero-day vulnerabilities -- that is, potential code exploits that are unknown to the software developers launching the product -- as AI systems like Anthropic’s Claude MythosKelp exploit highlights problem with non-isolated DeFi lending: Crypto execsA Binance address funded the attacker earlier in the week, suggesting that they had pre-planned the attack and had knowledge of the code exploit beforehand,“The fact that protocol automatically handled the reorg once DoS stopped, which is great, means that some portion of the hashrate was actually running an updated code. Thus, this bug was known, and it's not a zero-day. ”
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