Casper Network says security breach contained, network still halted

Blockchain platform Casper Network announced to the community that a “significant security breach” that occurred yesterday has been contained.

Casper Network suspends operations

In an X post today, July 28, the team behind the Casper Network (CSPR) announced that it is still resolving the issue, but that the security breach has been contained. The blockchain network’s official X account also promised further updates within the day. The post from today also notes that “a solution is being worked on.”

Yesterday, July 27, Casper Network — which currently has a market capitalization of just over $230 million — announced to the community on X that the chain had suffered a breach and that network activity had been halted.

However, trading of CSPR, the native cryptocurrency of the Casper Network, continues on exchanges despite the blockchain network’s suspension of operations. CSPR is down more than 15% over the past week.

Other recent crypto hacks

Earlier this month, Indian cryptocurrency exchange WazirX suffered a hack that resulted in the loss of user funds exceeding $230 million. Yesterday, the exchange announced a controversial “socialized” user compensation program that would let affected users recover at least some of their stolen funds.

As crypto.news previously reported, last year, crypto platforms and users lost a total of $1 billion from various hacks and breaches.