{"id":24254,"date":"2024-07-03T00:30:42","date_gmt":"2024-07-02T21:30:42","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24254"},"modified":"2024-07-03T21:53:29","modified_gmt":"2024-07-03T18:53:29","slug":"bittensor-halts-network-following-reported-security-attack-on-wallets-zachxbt","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bittensor-halts-network-following-reported-security-attack-on-wallets-zachxbt\/","title":{"rendered":"Bittensor Halts Network Following Reported Security Attack on Wallets: ZachXBT"},"content":{"rendered":"

Bittensor<\/a>, a decentralized AI project, has temporarily suspended its blockchain network after a suspected security exploit targeted users\u2019 wallets. The issue was first highlighted by on-chain analyst ZachXBT. The network halt was a precautionary measure taken by the core developers to investigate the breach.<\/p>\n

The Bittensor<\/a> block explorer shows that the last block was confirmed about three hours ago, indicating the network suspension timeline. According to ZachXBT, the security breach may be linked to leaked private keys. He reported in a Telegram update, “Bittensor was halted due to additional thefts earlier today potentially as a result of private key leakage.”<\/p>\n

A community Discord administrator, const [\u0442, \u0442], confirmed that all transactions have been paused to prevent further unauthorized access. \u201cWe are investigating what appears to have been an attack on a number of Bittensor wallets over the last 3 hours,\u201d the administrator stated. \u201cWe are investigating, and in an abundance of caution, have recently fully halted transactions on-chain until there is more information available to us about the nature of this attack.\u201d<\/p>\n

ZachXBT reported that $8 million worth of TAO tokens, approximately 32,000 native Bittensor (TAO) tokens, were stolen during the attack. This significant theft likely prompted the foundation\u2019s decision to secure the network against further incidents.<\/p>\n

The TAO Foundation has not yet released a detailed statement regarding the thefts, as the investigation is still ongoing. The incident has led to a 15% decline in the value of the TAO token, which is currently trading at $231. The token’s market capitalization stands at $1.6 billion.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bittensor, a decentralized AI project, has temporarily suspended its blockchain network after a suspected security exploit targeted users\u2019 wallets. The issue was first highlighted by on-chain analyst ZachXBT. The network halt was a precautionary measure taken by the core developers to investigate the breach. The Bittensor block explorer shows that the last block was confirmed<\/p>\n","protected":false},"author":6,"featured_media":4923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[7152,7153],"class_list":["post-24254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bittensor","tag-bittensor-hack"],"yoast_head":"\nBittensor Halts Network Following Reported Security Attack on Wallets: ZachXBT - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bittensor-halts-network-following-reported-security-attack-on-wallets-zachxbt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bittensor Halts Network Following Reported Security Attack on Wallets: ZachXBT - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bittensor, a decentralized AI project, has temporarily suspended its blockchain network after a suspected security exploit targeted users\u2019 wallets. 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