Cosmos Developers Patch Critical Flaw in IBC Protocol, Safeguarding $126 Million in Assets

Cosmos developers have successfully rectified a critical security vulnerability in its Inter-Blockchain Communication (IBC) protocol, which had placed assets worth at least $126 million in jeopardy, following a private notification from Asymmetric Research. This flaw, existing in the protocol since its 2021 inception, became exploitable recently with the introduction of new codebase developments but was fixed without any funds being compromised, ensuring no malicious exploitation occurred. Highlighting the incident, Asymmetric Research emphasized the importance of continuous research and development to bolster cross-chain security measures, mitigating potential threats to the multichain ecosystem.

Source