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NEO witnesses DoS [Denial-of-Service] vulnerability; releases bug fix within an hour

Ajay Narayan

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NEO witnesses DoS [Denial-of-Service] vulnerability; releases bug fix within an hour
Source: Unsplash

On August 15th Neo Smart Economy platform witnessed a DoS [Denial-of-Service] vulnerability. A group of excellent developers from Qihoo 360 Core Securities verified and tested the DoS vulnerability and sent a detailed report to the NEO team.

NEO is a blockchain platform and cryptocurrency which was created with the idea of establishing a scalable network of decentralized applications. While NEO is very close to Ethereum at its core and has 7 master nodes responsible for verifying and packaging the entire network transaction. Malicious users can post malicious contracts resulting in the 7 master nodes to crash and can cause denial of service across the entire NEO network.

Erik Zhang, NEO Founder verified the threat and released a bug fix within an hour, eliminating the possibility of the bug being exploited by attackers. He also rewarded the team 10000 NEO for their contribution. One of the most important preferences NEO has is security, and since its inception in October 2016, they have entered into a strategic partnership with two security companies namely CertiK, a formal verification service platform and Red4Sec, a code auditor. NEO has initiated an incentive policy to reward any contributor that discovers vulnerabilities in the NEO Smart Economy.

Since the deposits and withdrawals are disabled, many individuals are confused whether it is an issue with the exchanges or with the blockchain. Lack of information has flooded the internet with queries. Many exchanges like Binance, Kucoin, and Cobinhood have stopped deposits and withdrawals of NEO coins, which has led many investors astonished as their investments are stuck in these exchange platforms.

a_dodo_stole_my_baby, a Redditor posted his grievance for which Kucoin replied:



Post by Redditor | Source: Reddit

Another Reddit user posted:

“So what gives? It’s been almost 4 days now and withdrawals are still disabled. Anyone know if we should expect them to be back up soon?”





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Guest Author

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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