Core DAO plans emergency hard fork after validators drew excess rewards
The blockchain network takes security measures after validators claimed more rewards than the protocol intended.
1Core DAO's Emergency Response
Core DAO discovered that validators were claiming more CORE rewards than the blockchain protocol intended. This created a vulnerability threatening the network's security. Core DAO officials stated the issue was contained and user assets remained safe. An emergency hard fork is planned to prevent further exploitation of the flaw.
2Validators' Excessive Rewards
A group of validators received significantly more CORE rewards than the protocol allowed. This situation risked destabilizing the network's economic balance. Core DAO announced that these 'malicious validators' can no longer claim excess rewards. A technical postmortem is being prepared to analyze the incident in detail.
3Exchanges' Reactions
Coinbase temporarily paused sends and receives on the Core network. South Korean exchanges Bithumb and Coinone suspended CORE deposits and withdrawals citing suspected security concerns. Bitget halted transactions citing wallet maintenance, while LBank referenced project requirements. These measures aim to protect user assets during the incident.
4Hard Fork Details
The planned hard fork will be implemented as a forward upgrade, meaning it won't reverse any past transactions. Core DAO stated the fork will enhance network security and prevent similar issues. The community awaits to see how the network will evolve post-fork and what additional measures will be implemented.
5User Assets Remain Secure
Core DAO emphasized that the issue only affected reward distribution and user assets weren't at risk. Transaction integrity and security on the network remain intact. However, it's still unknown whether validators who received excess rewards have circulated these tokens in the market.
6Technical Postmortem Expected
Core DAO announced it will publish a comprehensive postmortem report detailing the technical aspects of the incident. The report will cover how the vulnerability occurred, its duration, and the effectiveness of mitigation measures. This analysis will help prevent similar issues in the future.
7Similar Industry Incidents
BNB Chain recently enhanced bridge security through its Pasteur hard fork. Core DAO's situation highlights validator abuse in blockchain networks. Other projects in the space are expected to implement similar safeguards. Security has become the top priority in the cryptocurrency ecosystem.
8Core DAO's Future
This incident demonstrated Core DAO's commitment to network security. While the hard fork resolves the immediate issue, questions remain about validator reliability. The community expects Core DAO to implement stricter measures to prevent similar occurrences. This event underscores the challenges decentralized networks face.