Casper Network says security breach contained, network still halted

Blockchain platform Casper Network announced that a “significant security breach” that occurred yesterday has been brought under control.

Casper Network has suspended its operations

The Casper Network (CSPR) team announced in an X post today, July 28, that they are still troubleshooting the issue but that the breach has been brought under control. The blockchain network’s official X account also promised more updates throughout the day. Today’s post also states that “a fix is ​​being worked on.”

#CasperFamily,

The Casper Association, Casper Labs, and Validators/community are actively working to resolve the issue. The network has been shut down and the breach has been contained. Work on a solution is ongoing.

Further updates will be provided in Europe today…

— Casper (@Casper_Network) July 28, 2024

Yesterday, on July 27, Casper Network, which currently has a market cap of just over $230 million, announced to the X community that there had been a breach on the chain and that network activity had been halted.

🚨 Dear Community,

We discovered a significant security breach in the Casper Network. To minimize the impact of this breach, we worked with validators to shut down the network until the breach was fixed.

We will have updates as we learn more…

— Casper (@Casper_Network) July 27, 2024

However, Casper Network’s native cryptocurrency CSPR continues to be traded on exchanges despite the blockchain network suspending its operations. CSPR has fallen more than 15% in the past week.

CSPR 4-hour price chart, July 21-28 | Source: crypto.news Other recent crypto attacks

Earlier this month, Indian cryptocurrency exchange WazirX was hit by a hack that resulted in the loss of over $230 million in user funds. Yesterday, the exchange announced a controversial “socialized” user compensation program that will allow affected users to recover at least some of their stolen funds.

As Crypto.news previously reported, last year crypto platforms and their users lost a combined $1 billion due to various attacks and breaches.