The hardfork network of Ethereum Constantinople is postponed indefinitely. Blame it – a critical error that was discovered during the audit.
The vulnerability that caused Constantinople to migrate is found in the EIP-1283 algorithm. It was identified by hackers from ChainSecurity. As a result of a smart contract error, third parties could steal funds from network users.
The decision to transfer Constantinople was made by a group with Ethereum leader Vitalik Buterin and leading platform developers. During the discussion, it was decided to postpone the hardfork scheduled for January 17 to an unspecified date in the future.
Found a failure allowed to conduct a re-entry attack. Due to this bug, hackers can enter the same function an infinite number of times, which ultimately allows them to continuously withdraw funds. Experts report that a similar vulnerability was discovered in The Dao three years ago.
The main goal of the hard fork of Constantinople was to reduce transaction costs. However, due to an error in the smart contract, resources saved on transactions can be used by attackers, which undermines network stability.
Against the background of the news of the failed hardfork, the Ethereum rate dropped sharply by 5%: from $ 127 to $ 120.
The exact date of the new hard forks is not called. It is reported that the modified dates for the Constantinople will be announced on Friday at the meeting of the developers of Ethereum.
For normal operation on the platform, users, developers and users are recommended to roll back client programs in order to protect against attackers. As of 16 About 45% of all users have upgraded to the version of Constantinople with a vulnerability in EIP-1283.