The NEAR Protocol team claimed to have encountered a similar vulnerability to Solana and threatened the Near wallet, but fortunately they were quickly recognized and promptly prevented the problem.

NEAR wallet has the same problem as Solana’s Slope wallet

In an announcement posted on the morning of August 5, NEAR Protocol’s cryptocurrency wallet application NEAR Wallet admitted to having experienced problems similar to what happened with Solana’s Slope wallet in recent days.

Specifically, on June 6, 2022, NEAR Wallet received a report that information about the wallet’s users had been shared externally. Accordingly, a piece of code of the NEAR wallet allowed the collection of personal data about those who tried to recover the wallet by SMS or email.

After the vulnerability was reported, NEAR Wallet quickly changed the code, deleted sensitive data that had been leaked, and identified individuals who could have access to this data as a precaution. The person who reported the vulnerability also received a commensurate bug bounty reward.

NEAR Protocol claims that since then there have not been any incidents related to the leakage of user data, as well as the exploitation of the above vulnerability.

Even so, NEAR Wallet will no longer allow users to use email or SMS to restore wallets. As a precaution, the project also recommends that everyone who has done it in the past change their wallet password. Users should also disable email and SMS wallet recovery.

As updated in the Coincu News article, Solana encountered a very serious security flaw, resulting in more than 8,000 crypto wallets being stolen, with an estimated loss of $ 570 million. After hours of investigation, Solana pinpointed the cause of the Slope wallet app. Slope is said to have inadvertently transferred the user’s wallet private key information to a third party.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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# Cryptocurrencies

crypto

hack

Near Wallet

restore wallet

security flaw

slope wallet

Solana

Author

Victor

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NEAR Wallet Admits Problems Similar To Solana’s Slope Wallet

The NEAR Protocol team claimed to have encountered a similar vulnerability to Solana and threatened the Near wallet, but fortunately they were quickly recognized and promptly prevented the problem.

NEAR wallet has the same problem as Solana’s Slope wallet

In an announcement posted on the morning of August 5, NEAR Protocol’s cryptocurrency wallet application NEAR Wallet admitted to having experienced problems similar to what happened with Solana’s Slope wallet in recent days.

As part of ongoing discussion around the changes to https://t.co/h8J7uvV1SH and recent news stories concerning vulnerabilities on other wallet platforms this week, @NEARFoundation has created a thread discussing the state of security around NEAR’s web wallet.

???? ????

— NEAR Protocol (@NEARProtocol) August 4, 2022

Specifically, on June 6, 2022, NEAR Wallet received a report that information about the wallet’s users had been shared externally. Accordingly, a piece of code of the NEAR wallet allowed the collection of personal data about those who tried to recover the wallet by SMS or email.

On 6/6/2022 a bug was reported in the wallet. There was a potential vulnerability in the security of wallets that used email or SMS recovery as data travelled to the third party service. The bug was patched that same day and no accounts were compromised.

— NEAR Protocol (@NEARProtocol) August 4, 2022

After the vulnerability was reported, NEAR Wallet quickly changed the code, deleted sensitive data that had been leaked, and identified individuals who could have access to this data as a precaution. The person who reported the vulnerability also received a commensurate bug bounty reward.

NEAR Protocol claims that since then there have not been any incidents related to the leakage of user data, as well as the exploitation of the above vulnerability.

Even so, NEAR Wallet will no longer allow users to use email or SMS to restore wallets. As a precaution, the project also recommends that everyone who has done it in the past change their wallet password. Users should also disable email and SMS wallet recovery.

As updated in the Coincu News article, Solana encountered a very serious security flaw, resulting in more than 8,000 crypto wallets being stolen, with an estimated loss of $ 570 million. After hours of investigation, Solana pinpointed the cause of the Slope wallet app. Slope is said to have inadvertently transferred the user’s wallet private key information to a third party.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

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