IBC has always had the bug but it only recently became exploitable due to developments in the protocol’s codebase, Asymmetric Research said.
Cosmos developers have fixed a “critical” security bug in its Inter-Blockchain Communication (IBC) protocol which put at least $126 million at risk, says a blockchain security firm that privately notified Cosmos of the issue.
“We privately disclosed the vulnerability through the Cosmos HackerOne Bug Bounty program and the issue is now patched,” Asymmetric Research said on April 23.
“No malicious exploitation took place and no funds were lost,” it added.