Blockchain networks are not immune from cyber attacks that aim to disrupt their work and disrupt their authentication system or control them through a 51% attack.

The larger the blockchain network and the greater the number of its users, the more difficult it becomes to hack it.

According to several analysts, the Ethereum network (ETH) was a prime target of a coordinated attack targeting some of the Ethereum “Parity” nodes on December 31.

In this regard, Parity Technology, the core company of the blockchain framework, stated that it feels there is an ongoing assault and has therefore begun network upgrades to protect against cascading attacks.

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According to Sergio Demian Lerner, a security consultant specializing in cryptocurrency, the attack started in a simple way, and he explained it:

It sends an invalid block of transactions to the Parity node, but the header is valid (borrowed from another block).

Node will mark the block header as invalid and block that block header forever but the header is still valid.

The attack is simple: you send to the parity node a block with invalid parameters, but a valid header (borrowed from another block)
Node will mark the block header as invalid and ban that block header forever but the header is still valid.

– Sergio Demian Lerner (@SDLerner) December 31, 2019

Liam Aharon, a programmer and developer, evaluated the attack and concluded that it was powerful enough to bring down the entire network.

“Aharon” also stated that Ethereum may become a target for more attacks in the future, and according to him the attack did not succeed in destroying the entire network because the network has a feature called “Geth” which is resistant to such attacks.

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However considering Parity’s plan to convert Parity’s Ethereum into a DAO ownership and maintenance structure, Geth may become the only perfectly maintained feature this year.

1/ Ethereum overcame an intentional attack today on NYE that came close to destroying the entire network.

I’d like to talk about the attack and why it didn’t work, but also why I’m concerned that Ethereum could become more vulnerable to similar attacks in 2020.

– Liam Aharon (@liamaharon) December 31, 2019

Aharon noted that these attacks could destroy the network, and said:

If this scenario materializes, attacks similar to today’s attacks would destroy the network, rather than make it through peacefully.

Last year, Parity published several updates aimed at resolving the node vulnerability issue.

In March 2019, Parity CEO Jutta Steiner stated that the controversial new functionality of Create2 Ethereum would have stopped Parity multisig freezing after a user mistakenly killed the Parity multisig library by triggering a vulnerability. To switch to the owner of the library and then make it self “-destruct”.

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In May 2019, the International Study Center on Hacking (SRLabs) confirmed that two-thirds of Ethereum software running on Ethereum nodes had undergone an update to resolve a critical security issue identified earlier this year.

It is assumed that the information indicates that the analogue nodes that have not undergone an update constitute 15% of the total validated nodes, which means that 15% of the total Ethereum nodes are vulnerable to a 51% attack.

On December 29, IOTA token holders were unable to execute any transaction for nearly a day after an unusual batch of deals were frozen, seen as an attack on the mainnet.

IOTA network down for 15 hours due to technical glitch

IOTA has confirmed that the script has not been triggered by any changes to the software or any other network elements.

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