Etherscan Security Vulnerability exposed by Hackers

All the good things in this world will come with its own cons. The same is true with cryptocurrency, one of the major features of using blockchain is that anyone, anytime can view your transaction record, even the current and past state of it can be observed. As a result, hackers were able to expose security vulnerability on popular cryptocurrency site Etherscan.

To view, such public transaction records all you have to do is visit any of the BlockExplorers websites. These sites facilitate to view, search or even track specific account activity. Etherscan is one such popular site for ethereum blockchain. Apparently, this site turned out to be the victim of such hack which would have affected the entire crypto market.

The hack involved displaying a traditional alert pop-up with “1337, you’ve been hacked “.  The incident occurred on Monday and users of Etherscan reported the same on social site Twitter. Following which Etherscan team posted an update on Reddit about the situation.

As per team from Etherscan, the hackers left alert popup just by adding a comment on the site. The team quickly disabled the comment section and gave a patch release for the same. Also, they confirmed that this was a traditional attack and none of the user accounts or their funds were been compromised.

Overall, the hackers had a chance to drastically impact on the crypto community. Possibly hacks like these are one of the main challenges to combat in this ecosystem and might adversely affect on investors confidence in the market.

Although hackers might have pulled out this stunt just to draw Etherscan’s team attention, it remains to be seen as how efficiently such hacks can be prevented in future.

What do you think of this attack by hackers? What might be its effect on cryptocurrency market? Share your thoughts in the comment section below