Web 3.0 diagram showing up to $2.1B in crypto stored in old wallets is at risk.
Cybersecurity team claims up to $2.1B in crypto stored in old wallets is at risk

What is Randstorm and How it Affects Crypto Wallets?

The crypto community is still reeling from the recent $100 million Poloniex hack, and now blockchain security experts have found another potential cybersecurity threat that could affect billions worth of crypto assets. Unciphered, a cybersecurity company, has uncovered a vulnerability called “Randstorm” that could affect millions of wallets generated using web browsers from 2011 to 2015.

According to Unciphered, while retrieving a Bitcoin (BTC) wallet, it discovered a potential issue for wallets generated by BitcoinJS and derivative projects. This issue could affect millions of wallets and around $2.1 billion in crypto assets, and multiple blockchains and projects could be affected, including Dogecoin (DOGE), Litecoin (LTC) and Zcash (ZEC).

The company confirmed that the vulnerability is exploitable, yet did not give any details on how to exploit it, in order to prevent bad actors from taking advantage of the situation. In addition, it was stated that millions of users have already been informed about the issue, and those who used crypto wallets created between 2011 and 2015 are recommended to transfer their assets to more recent ones.

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