In the aftermath of the recent $100 million Poloniex hack, the cryptocurrency community faces another potential threat. Blockchain security experts have identified a vulnerability called “Randstorm,” putting crypto assets stored in wallets generated between 2011 and 2015 at risk. This vulnerability, impacting BitcoinJS and its derivatives, could affect millions of wallets, including those on Bitcoin, Dogecoin, Litecoin, and Zcash blockchains.
Take Urgent Action To Secure Your Crypto Assets
On November 14, Unciphered, a cybersecurity company, disclosed details about Randstorm, stressing the need for immediate attention. The company estimates that approximately $2.1 billion in crypto assets could be at risk. Users with wallets generated from 2011 to 2015 should take prompt action.
Unciphered has already alerted millions of users about the potential risk, recommending the transfer of crypto assets to wallets generated more recently using trusted software. Emphasizing urgency, the company states, “If you generated a self-custody wallet using a web browser before 2016, consider moving your funds to a wallet created more recently with trusted software.”
Confirming the Exploitable Vulnerability
While not all affected wallets are equally susceptible, Unciphered confirms the vulnerability’s exploitability. However, the company intentionally omits specific details about exploiting the vulnerability to prevent providing information to potential bad actors.
This discovery underscores the importance of promptly assessing wallet generation methods. Users are encouraged to take immediate steps to secure their digital assets, emphasizing the need to stay vigilant and proactive in the ever-evolving landscape of cryptocurrency security. Transitioning to newer, more secure wallets is not just a suggestion but a critical step in safeguarding against potential threats in the dynamic world of cryptocurrency.
