According to a security disclosure report provided by decentralized exchange 1inch, certain Ethereum addresses established using a program called Profanity have a significant vulnerability.

In a report on September 15, 1inch said the vulnerability allowed hackers to withdraw tens of millions of dollars over the past few years. 1inch said in its report:

“It’s not a simple task, but at this point, it looks like tens of millions of dollars in cryptocurrency could be stolen, if not hundreds of millions. One good thing is that proofs of hacks are available on-chain forever.”

Profanity, which was released in 2017, is a program that allows Ethereum users to construct “vanity addresses,” which are bespoke wallets that include identifying names or numbers.

According to 1inch, brute force assaults might be used to determine the private keys of these profanity-based addresses. It recommended customers who created addresses using Profanity move their valuables to new wallets.

“Your money is NOT SAFU if your wallet address was generated with the Profanity tool. Transfer all of your assets to a different wallet ASAP,” 1inch wrote.

The anonymous creator of the Profanity program “johguse” on GitHub has also acknowledged the security flaw and advised users not to use Profanity.

Unlike normal Ethereum wallet addresses, vanity wallet addresses have letters and characters according to the needs of the creator. Because the mechanism of mass generation of wallets to filter out the right letters meets the needs of users, 1inch said they can simulate retrieving the private key of the Profanity wallet with a GPU chip.

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

Harold

CoinCu News

1INCH

johguse

Profanity

vanity addresses

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

DeFi

1inch Warns Of Risks Associated With Profanity-Generated Ethereum Addresses

According to a security disclosure report provided by decentralized exchange 1inch, certain Ethereum addresses established using a program called Profanity have a significant vulnerability.

In a report on September 15, 1inch said the vulnerability allowed hackers to withdraw tens of millions of dollars over the past few years. 1inch said in its report:

“It’s not a simple task, but at this point, it looks like tens of millions of dollars in cryptocurrency could be stolen, if not hundreds of millions. One good thing is that proofs of hacks are available on-chain forever.”

Profanity, which was released in 2017, is a program that allows Ethereum users to construct “vanity addresses,” which are bespoke wallets that include identifying names or numbers.

According to 1inch, brute force assaults might be used to determine the private keys of these profanity-based addresses. It recommended customers who created addresses using Profanity move their valuables to new wallets.

“Your money is NOT SAFU if your wallet address was generated with the Profanity tool. Transfer all of your assets to a different wallet ASAP,” 1inch wrote.

The anonymous creator of the Profanity program “johguse” on GitHub has also acknowledged the security flaw and advised users not to use Profanity.

Unlike normal Ethereum wallet addresses, vanity wallet addresses have letters and characters according to the needs of the creator. Because the mechanism of mass generation of wallets to filter out the right letters meets the needs of users, 1inch said they can simulate retrieving the private key of the Profanity wallet with a GPU chip.

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

Harold

CoinCu News

Other Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]