Hackers steal billions of dollars in cryptocurrency due to cryptocurrency wallet vulnerability

A team of blockchain security experts at Unciphered has discovered a cyber threat that could affect billions of dollars worth of cryptocurrency assets. on November 14, the experts published information about the Randstorm vulnerability, which could affect millions of cryptocurrency wallets created using browsers from 2011 to 2015.

According to the analysts, while working on obtaining a bitcoin wallet, they discovered a potential problem for crypto wallets created using BitcoinJS and derivative projects. According to the company, the issue could affect millions of wallets and about $ 2.1 billion in crypto assets.

The firm also believes that many blockchains and projects could be affected. In addition to Bitcoin BTC $74,809.02 Bitcoin 1.20% Market capitalization $1.48 trillion VOL. 24 hours $3.53 billion , the company emphasized that Dogecoin DOGE $0.08 Department Of Government Efficiency -4.11% Market capitalization $75.27 million VOL. 24 hours $0.92 billion , Litecoin LTC $70.68 Litecoin 1.36% Market capitalization $5.31 billion VOL. 24 hours $35.76 million , and Zcash ZEC $43.76 Zcash 8.77% Market capitalization $0.66 billion VOL. 24 hours $10.44 million wallets could also potentially contain this vulnerability.

In addition, the company reported that millions of people have already received notifications about the problem. For those who use crypto wallets created between 2011 and 2015, Unciphered recommends transferring their assets to wallets created later.

The message reads:

«If you are an individual who created a self-storage wallet using a web browser prior to 2016, you should consider moving your funds to a newly created wallet created using trusted software.»

Although the cyber experts said that not all wallets were affected to the same extent, they do not rule out the possibility of the vulnerability being re-exploited by cybercriminals. However, the analysts did not disclose an algorithm for preventing cyberattacks on crypto wallets so that the instructions do not fall into the hands of attackers.