CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Cosmos hub halts for 24 hours after Neutron governance attack

Protos logo

Published on

Add as a preferred source on Google
Cosmos hub halts for 24 hours after Neutron governance attack

Cosmos Hub validators halted block production on Tuesday, following a governance attack on Neutron which initially led to losses of $9.5 million.

Of that sum, the attacker was only able to extract around 20%, with the remainder stuck on halted networks.

With block production having resumed since 12:00 UTC on Wednesday, Cosmos Hub was ultimately offline for over 24 hours after halting at block height 33086740.

This latest incident marks the third security scare in recent months for the wider Cosmos ecosystem.

Cosmos Hub validators will restart the network at 12:00 UTC on September 23 (08:00 EDT).

Reminder: the Hub itself was not exploited and no funds were impacted apart from the assets moved from Neutron. More details 👇 https://t.co/6LlvUjpKIj

Read more: Cosmos Labs under fire over disclosure of bug affecting four blockchains

A malicious “AI Agent Takeover” governance proposal was passed on Neutron, a Cosmos-ecosystem chain which entered its “long-term maintenance phase” earlier this year.

The proposal allowed the attacker to take control of two Neutron-based applications, Astroport and Drop, and drain contracts of assets worth $4.9 million and $4.4 million, respectively.

The attacker reportedly spent just $20,199 to acquire the NTRN tokens needed to pass the vote.

In response to the attack, Neutron was paused, trapping an estimated $5 million worth of assets.

2 million) held in the attacker’s address. The scheduled restart is set to include a queued refund of the trapped ATOM balance.



Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.