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Latest cryptocurrency news > CRYPTOCURRENCY SECURITY > Io.net Tackles Cybersecurity Incident with Rapid Enhancements
CRYPTOCURRENCY SECURITY

Io.net Tackles Cybersecurity Incident with Rapid Enhancements

BH NEWS
Last updated: 28 April 2024 19:11
BH NEWS 2 years ago
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Io.net, a decentralized physical infrastructure network, recently suffered a cybersecurity breach. Malicious attackers exploited vulnerabilities in user identity disclosures to perform a SQL attack, resulting in unauthorized modifications within the device metadata of the GPU network.

Security Chief’s Immediate Response

In response to the breach, Io.net’s security chief, known as Husky, quickly implemented security enhancements and corrective actions to protect the network. Fortunately, the robust permission layers in place prevented any damage to the actual hardware of the GPUs. The attack was detected during a surge in write operations to the GPU’s metadata APIs and was promptly addressed on the morning of April 25, following triggered alerts.

Contents
Security Chief’s Immediate ResponseDetails of the AttackConsidered Points

Following the incident, Io.net strengthened their security measures by implementing SQL checks on application interfaces (APIs) and enhancing the logging of unauthorized attempts. Additionally, a rapid deployment of a user-specific authentication solution using OKTA and Auth0 was undertaken to close security gaps related to universal authorization processes.

Details of the Attack

The breach resulted from vulnerabilities exposed while implementing a Proof of Work (PoW) mechanism to detect fake GPUs. Prior to the incident, aggressive security patches had been applied which necessitated ongoing security reviews and improvements due to evolving attack methods. Attackers exploited a security flaw in the API to display content in the entry and exit navigator and inadvertently exposed user identities while searching based on device identifiers, compiling this leaked information into a database weeks before the breach.

Considered Points

  • Ensuring robust permission layers can mitigate hardware damage during cyber attacks.
  • Quick deployment of tailored authentication solutions enhances network security post-breach.
  • Continuous security reviews and vulnerability patches are vital in adapting to evolving cybersecurity threats.

Despite the challenges, efforts continue to encourage supply-side participation, restore network connections, maintain platform integrity, and serve tens of thousands of computational hours each month. Husky emphasized the importance of ongoing comprehensive reviews and penetration tests at public access points to detect and neutralize threats early.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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