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You're reading from  Mastering Blockchain - Fourth Edition

Product typeBook
Published inMar 2023
PublisherPackt
ISBN-139781803241067
Edition4th Edition
Concepts
Blockchain
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Author (1)
Imran Bashir
Imran Bashir
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Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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Security

Blockchains are generally secure and make use of asymmetric and symmetric cryptography, as required throughout the blockchain network, to ensure that the core layer of the blockchain is secure. However, there are still a few caveats that can result in the security of the blockchain being compromised.

There have been many high-profile successful attacks on the blockchain ecosystem over the years. Some were outright malicious, and some were accidental; however, they all resulted in significant losses. Some examples include:

  • The attack on Binance Smart Chain, which occurred on October 6, 2022. The hackers infiltrated the BNB cross-chain bridge Token Hub where they were able to mint fraudulent BNB tokens, through fake withdrawal proofs. Initially, the estimated damage was 566 million USD.
  • In August 2021, the Poly Network theft, which resulted in 610 million USD being stolen. This attack exploited a vulnerability that occurred due to mismanaged access rights...
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Mastering Blockchain - Fourth Edition
Published in: Mar 2023Publisher: PacktISBN-13: 9781803241067
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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