CrypLogger.com
  • Home
  • Exclusive
  • Learn About Coins
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions
  • Current Prices
No Result
View All Result
  • Home
  • Exclusive
  • Learn About Coins
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions
  • Current Prices
No Result
View All Result
CrypLogger
No Result
View All Result
Home News

Libra-Linked Sui Blockchain Fixes Bug Averting Billions of Risks

by Vaibhav
May 16, 2023
in News
0
Libra-Linked Sui Blockchain Fixes Bug Averting Billions of Risks
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Author Victoria Lyapota Reading 4 min Views 2 Published 05/16/2023 Updated 05/16/2023

Sui’s blockchain network has quietly patched a bug that could have put “billions of dollars” at risk, according to a May 16 filing by Zellic, the security firm hired to audit the network’s security.

Loss of Funds Bug in Aptos and Sui

Quick spotlight on an unpublished (but fixed) loss-of-funds bug in the move verifier that seems to have been found by @zellic_io.

This would have allowed many types of exploits against Aptos or Sui based protocols.

— Jasper | Neodyme (@JasperCPS) April 11, 2023

The bug was dependent on a bytecode verifier that ensures that the human-readable Move language used to write smart contracts in Sui is correctly transcribed into machine code during deployment. If the bug had not been fixed, it could “allow attackers to bypass several security properties, resulting in potentially significant financial damage,” the report says.

Related articles

Michael Saylor: Bitcoin can improve security in cyberspace and bring “cause and legacy”

Michael Saylor: Bitcoin can improve security in cyberspace and bring “cause and legacy”

May 28, 2023
Bitcoin: Cause and Effect in Cyberspace and Increasing Security – Michael Saylor

Bitcoin: Cause and Effect in Cyberspace and Increasing Security – Michael Saylor

May 28, 2023

According to the announcement, developer Sui Mysten Labs fixed the bug on March 30 in the 8bddbe65 commit after Zellic informed them of its existence. The bug could also be present on other Move-based networks, including Aptos and Starcoin. According to the Zellic team, the Aptos version of the bug was fixed with the April 10 patch.

See also  MicroStrategy backs change in accounting for bitcoin value in financial statements Analyst software provider MicroStrategy has backed a FASB proposal to use fair value accounting for cryptocurrencies on the balance sheet.

In a conversation with Cointelegraph, a spokesperson for the Move-based 0L network stated that the bug does not affect its version of Move. On May 15, 0L added a series of tests to its GitHub that it says prove the exploit is not possible in version 0L.

Cointelegraph reached out to Aptos and Starcoin for comment, but received no response in the form of a post.

A blockchain network developed by Mysten Labs, Sui was founded by former Meta Platforms engineers. It is a fork of the open source Libra project created by Meta, the parent company of Facebook. Libra was shut down in 2019.

Some developers prefer the Move smart contract language because its security features are especially useful for the blockchain. For example, it allows developers to create their own data types, including the “coin” type, which cannot be copied or deleted.

See also  "Non-bank options exhausted after investor left in limbo."

Related: Justin Sun apologizes after Sui LaunchPool clashes with Binance CEO

Like other blockchain networks, Sui does not store code in the same language as it is written in. Instead, it converts this code from a human-readable web language into machine-readable bytecode.

While doing this translation, Sui performs a series of checks to ensure that the translated code does not violate the network’s security properties. For example, it ensures that coins cannot be deleted or copied.

According to the Zellic blog post, Mysten Labs hired him to evaluate the security of this verifier program. No errors were found in the verifier itself. However, he found an error in the “Control Flow Graph” or “CFG” file that the verifier uses to perform many of its tasks. Because of the way it was written, CFG can allow certain lines of code to be hidden from the verifier, allowing code that violates network security principles to be saved and run without being caught.

See also  Miners offered computing power to AI developers

In their explanation, the team stated that the most obvious way to exploit this vulnerability is for attackers to obtain instant credits. When quick loans are implemented in Move-based networks, the loan protocol typically sends an asset to the borrower that cannot be removed. If the borrower is able to remove this asset, they “may successfully take out an instant loan and not repay the borrowed funds,” the team said. Other types of exploits are also possible, as the vulnerability allowed the basic security principles of Move to be violated. Thus it is “[поставило] potentially billions of dollars at risk,” the security firm said in a statement.

Motion-based networks and their applications have recently made a splash in the fundraising world. On May 8, Sui-based decentralized exchange Cetus raised over $6 million in one minute. The company behind Aptos also raised over $150 million in July 2022.

Share76Tweet47

Related Posts

Michael Saylor: Bitcoin can improve security in cyberspace and bring “cause and legacy”

Michael Saylor: Bitcoin can improve security in cyberspace and bring “cause and legacy”

by Vaibhav
May 28, 2023
0

Author Alexander Zhdanov Reading 2 min Published 05/28/2023 Updated 05/29/2023 Michael Saylor, Chief Executive of MicroStrategy, said Michael Saylor, Chief...

Bitcoin: Cause and Effect in Cyberspace and Increasing Security – Michael Saylor

Bitcoin: Cause and Effect in Cyberspace and Increasing Security – Michael Saylor

by Vaibhav
May 28, 2023
0

Author Victoria Lyapota Reading 2 minutes Published 05/28/2023 Updated 05/29/2023 Bitcoin could be the answer to combat AI cybersecurity threats...

USDT Market Rises During Economic Uncertainty, USDC Declines

USDT Market Rises During Economic Uncertainty, USDC Declines

by Vaibhav
May 28, 2023
0

Author CryptoHamster Reading 3 min Views 2 Published 05/28/2023 Updated 05/28/2023 The market dominance of USD-pegged stablecoins has seen some...

Results of the week: the community celebrated Bitcoin Pizza Day, and Ledger recognized the possibility of government access to assets in the wallet

by Vaibhav
May 28, 2023
0

The cryptocurrency community celebrated Bitcoin Pizza Day, the head of Ledger, Pascal Gauthier, acknowledged the possibility of government access to...

Hackers withdrew over $7.5 million from DeFi project Jimbos Protocol

by Vaibhav
May 28, 2023
0

The Jimbos Protocol project based on the Arbitrum network was attacked, as a result of which unknown people withdrew 4090...

Load More

Recent News

  • Why AI tokens are needed and what are the risks of investing in HYIP projects
  • Michael Saylor: Bitcoin can improve security in cyberspace and bring “cause and legacy”
  • How to start accepting bitcoin payments in Ukraine? Dealing with Whitepay CEO Gleb Udovichenko
  • Bitcoin: Cause and Effect in Cyberspace and Increasing Security – Michael Saylor
  • USDT Market Rises During Economic Uncertainty, USDC Declines
  • Results of the week: the community celebrated Bitcoin Pizza Day, and Ledger recognized the possibility of government access to assets in the wallet
  • Why Crypto Companies Choose Chapter 11 Bankruptcy
  • Hackers withdrew over $7.5 million from DeFi project Jimbos Protocol
  • Voting for the token will regain control of Tornado Cash
  • Arbitrum-powered Jimbos protocol hack resulted in the loss of $7 million in Ethereum
  • Colab learned how to write code, Meta introduced language models and other news from the world of AI
  • Beijing Unveils White Paper for Web3 Innovation and Development
  • The MakerDAO community was asked to increase the rate of return on deposits in DAI
  • Hong Kong Police Launches CyberDefender Anti-Cyber ​​Attack System
  • Ex-Google CEO calls AI an ‘existential threat’
  • Binance Suspends Deposits of 10 Tokens Amid Multichain Issues
  • Sam Altman’s Worldcoin raises $115 million in funding
  • Not USDT Alone: ​​Tether Considers New Lines of Business
  • The expert pointed to the prospects for the resumption of the Bitcoin rally
  • Circle launches euro-pegged stablecoin on Avalanche

Follow Us On Twitter

Twitter feed is not available at the moment.

  • Home
  • About Us
  • CCPA
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms of Use
Email: contact@cryplogger.com

© 2021-23 Cryplogger.com
CrypLogger is a cult magazine about bitcoin, blockchain technology and the digital economy. Every day we supply news and analytics on the cryptocurrency market since 2021.

No Result
View All Result
  • Home
  • Artificial Intelligence
  • Special Projects
  • News
  • Opinions

© 2021-23 Cryplogger.com
CrypLogger is a cult magazine about bitcoin, blockchain technology and the digital economy. Every day we supply news and analytics on the cryptocurrency market since 2021.

Go to mobile version