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
MicroStrategy buys 15,350 BTC; Ripple launches RLUSD; Lido exits Polygon; BTC drops post-ATH; reduced liquidity…
Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
This website uses cookies.