After a security breach, the Casper Network is back up and running. On July 31, 2024, all 64 validators, who together hold 85% of the staked CSPR, agreed that network validation would begin again.
The event showed how important it is to be alert and take action in the constantly changing world of blockchain technology. Through an organized and decentralized effort, the network was able to fix the breach by removing two blocks that contained four transactions and the effects they had on the blockchain.
A fresh Casper-node binary and normal configuration files were put in place, and the blockchain was scanned around the world to look for possible security holes. Validators were very important to the healing process because they started the upgrade and put the new version of the software into use by hand.
Once at least 66.7% of the consensus stake agreed to restart the node, the troublesome blocks were taken out and the process of making new blocks began again.
Other crypto companies, like the Indian market WazirX, Compound Finance, Li.Fi, Bittensor, and Rho Markets had similar problems in July.
