Cryptocurrency

Cosmos, Osmosis to deploy patch on all major public IBC chains to fix potential exploit

Zegex

Cosmos co-founder Ethan Buckman announced After identifying vulnerabilities that could lead to potential exploits in our October 13th blog post, we plan to roll out patches to all major public Inter-Blockchain Communication (IBC)-enabled chains by tomorrow.

The announcement of the patch deployment deadline could lead to a potential exploit affecting all IBC-enabled chains as core members of Cosmos and Osmosis conducted an extensive audit in the aftermath of the $100 million BNB. It was done after identifying one “critical security vulnerability”. Smart Chain (BSC) exploit on Oct. 6.

patch release deadline

Buchman confirmed that the Cosmos and Osmosis developers will release a public version of the patch in the Cosmos SDK on October 14th at 14:00 UTC. He said the team has already taken the necessary steps, working with developers across the ecosystem to make patches privately available, and chains applying patches before communicating publicly. added.

Throughout the blog post, he reiterated that all chains and validators must be upgraded to newly released patches, and that the patch deployment process does not require stopping chains.

Buchman also informed developers that if a third of the chain’s voters voted to deploy the patch, the chain and their projects would be safe from critical vulnerabilities. The Cosmos and Osmosis teams are aiming to reach two-thirds of the votes as soon as possible when the patch is officially released tomorrow.

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