Curio, the well-known blockchain-based company, was hit by a reported $16 million exploit which is said to have been caused by a vulnerability in its voting power mechanism. The incident leads to an unauthorized manipulation of the voting process, resulting in an unexpected loss of funds.
The flaw exploited by the bad actor utilized the Delegated Proof of Stake (DPoS) algorithm, which is used to manage voting power based on the quantity of Curio-owned tokens. The attacker somehow managed to gain a significant amount of voting power, which should be impossible under normal circumstances as it should’ve been distributed among several holders.
The $16 million loss constitutes a major blow to the Curio operations and has generated significant concern among its stakeholders and investors.
As of now, the company is working around the clock with cybersecurity experts to patch the vulnerability, to prevent future incidents of this kind, and to recover the lost funds. They are also cooperating with law enforcement to bring the attacker to justice.
Users, stakeholders, and enthusiasts are advised to stay vigilant and adhere strictly to security measures instructed by the company. Curio stated that they will keep the community informed about the progress and next steps regarding this matter.
Curio Hit by $16 Million Exploit Due to Voting Power Vulnerability
Curio, the well-known blockchain-based company, was hit by a reported $16 million exploit which is said to have been caused by a vulnerability in its voting power mechanism. The incident leads to an unauthorized manipulation of the voting process, resulting in an unexpected loss of funds.
The flaw exploited by the bad actor utilized the Delegated Proof of Stake (DPoS) algorithm, which is used to manage voting power based on the quantity of Curio-owned tokens. The attacker somehow managed to gain a significant amount of voting power, which should be impossible under normal circumstances as it should’ve been distributed among several holders.
The $16 million loss constitutes a major blow to the Curio operations and has generated significant concern among its stakeholders and investors.
As of now, the company is working around the clock with cybersecurity experts to patch the vulnerability, to prevent future incidents of this kind, and to recover the lost funds. They are also cooperating with law enforcement to bring the attacker to justice.
Users, stakeholders, and enthusiasts are advised to stay vigilant and adhere strictly to security measures instructed by the company. Curio stated that they will keep the community informed about the progress and next steps regarding this matter.
