Cosmos developers reported a critical security flaw in its IBC-enabled Blockchains. Cosmos founder Ethan Buchman stated that developers would need to deploy a security update on Friday. Developers discovered a critical vulnerability in all Cosmos Blockchains that use the inter-blockchain communications protocol (IBC), which is the network’s crosschain messaging and bridge protocols.
In light of the $100,000,000 bridge hack on BNB Chain (a blockchain that uses Cosmos’ software), the developers discovered the security problem during a software audit of Cosmos. Ethan Buchman, Cosmos cofounder, posted the blog update to the community forum.
“Members from the core Cosmos, Osmosis and Osmosis teams have been thoroughly auditing IBC since the BSC exploit. Buchman stated that we have found a critical security flaw that affects all IBC-enabled Cosmos chains for all versions.
Buchman stated that all Cosmos-enabled Cosmos Blockchains will need to deploy a public security update on Friday at 10 a.m. ET. He also said that validators for various Cosmos chains might stop their networks during Friday’s upgrade.
Buchman wrote that “Given the severeness of the situation, we have been working tirelessly together with core development teams as well as validators from the ecosystem to make this patch available privately and ensure that chains are repaired before communicating publicly.
A critical vulnerability in cybersecurity refers to a software flaw that allows hackers to hack network systems and steal data or money.
Cosmos is a network of interoperable and application-specific blockchains. These chains can be interconnected using the IBC protocol.
According to Map of Zones, 51 blockchains currently support the IBC protocol in the Cosmos ecosystem. These include Osmosis and Cosmos Hub, Axelar and Evmos as well as Injective, Juno and Sifchain.
