Zano Faces Major Exploit with Unauthorized Minting of 36.9M ZANO
- An attacker exploited a vulnerability in Zano’s Gateway Address, minting approximately 36.9 million ZANO and Freedom Dollar (fUSD) tokens.
- The first unauthorized mint occurred on August 29, creating 18.4 million ZANO, followed by another mint of the same amount on September 25.
- To address the issue, Zano decided to roll back its blockchain by one month, impacting legitimate transactions to eliminate unauthorized supply.
- The attacker paid a registration fee of 100 ZANO, valued at about $553 at the time, to set up the exploit.
- Zano is working on restoring affected balances using developer funds and contributions from team members.
The incident highlights vulnerabilities in blockchain security, as unauthorized coins appeared similar to legitimate outputs for nearly a month before detection. The rollback aims to restore integrity but may impact user trust.
Zano’s rollback decision follows the creation of 36.9 million unauthorized ZANO, underscoring significant risks associated with blockchain vulnerabilities.(Source)
