Casper Network Becomes the New Crypto Victim as Hackers Target the Project

It looks like crypto hackers have become very active this month. We have already seen a few Crypto hacks in the previous weeks of this money.

Cryptocurrency hackers appear to be having a field day this month. We've already seen a handful of crypto hacks over the past few weeks, and another one hit the crypto community on July 27.

Casper Network, the latest victim of a crypto hack, announced the news via its official Twitter account on Saturday evening. The Casper team, along with the Casper Association and Casper Labs, quickly reacted to the breach by halting the network at block 3,329,418 with the help of validators.

According to the team, the network has been down for 13 hours now, which means no transactions, minting or staking are being processed.

"The security breach is contained and the issues have been identified," the team stated via Twitter, adding that they're working on a solution as quickly as possible.

The team is still analyzing the data to determine the extent of the damage, and they've asked the community to be patient while they investigate. Once the investigation is complete, a detailed report will be shared publicly and the code changes will be available on Casper's GitHub repository, they said.

According to the team, only a few major accounts have been impacted. The nature of the attack is still unknown, and it hasn't affected the trading of CSPR, the native token of Casper, on exchanges.

These back-to-back crypto hacks are instilling fear within the crypto community. Just last week, one of India's largest crypto exchanges, Wazirx, was hacked and around 45% of the crypto funds were stolen. The exchange is still working to identify and recover the lost funds, while operations on the crypto exchange have been halted.

In another hack, Scroll Network's lending protocol was exploited, enabling the attackers to access around $7.6 million worth of tokens.

These hacks certainly raise major concerns about the safety of investors' funds. How are these attackers able to break into the wallets or the networks? Sometimes, it's the faulty smart contracts, other times it's the phishing applications. No matter what these projects claim, one question remains unanswered: Can crypto projects become unhackable like the blockchain?