Casper Network Reports Security Breach, Halts All Transactions

This month has seen an increase in crypto hacks, with the latest involving the Casper Network on July 27.

Crypto hacks have been on the rise this month, and the latest victim is the Casper Network, which was breached on July 27.

The Casper Network breach was announced by the network itself via Twitter on July 27. In a bid to prevent further damage, they immediately halted the network at block 3,329,418, which stopped all transactions, minting, and staking activities.

However, the network assured users that the breach was contained and they were working on a solution. They are currently assessing the damage and will share a detailed report once the investigation is complete.

Moreover, only a few major accounts were affected, and trading of the CSPR token remained unaffected.

The Casper Network breach follows other recent hacks, including a major attack on India’s largest crypto exchange, WazirX, and a $7.6 million theft from Scroll Network’s lending protocol.

These incidents have raised serious concerns about the security of investors’ funds, highlighting vulnerabilities in crypto projects and prompting questions about achieving blockchain-level security.

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