Ethereum on PoW (ETHW) Users Might Be Vulnerable to New Type of Attack
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Kyber Network (KNC) engineers explained how ETHW holders can protect themselves from re-attacks
- Merge update makes some Ethereum (ETH) backers vulnerable to re-attacks
- Ethereum on PoW (ETHW) Contributors Respond: “No Problem”
After the Ethereum (ETH) Merge was activated, some ETH enthusiasts also decided to claim the tokens of alternative proof-of-work (PoW) chains. For this reason, they should be very careful when buying new property.
Merge update makes some Ethereum (ETH) backers vulnerable to re-attacks
The Team of Kyber Network, a veteran Ethereum-based DeFi protocol and multi-blockchain liquidity center, shared a thread about replay attacks, a common vulnerability of crypto wallets after the fork.
1/ Be aware of re-attacks before use #EthereumPoW! Send @Ethereum #Compound, some users may become victims of repeated attacks and lose their assets. What exactly is a Replay Attack, how does it happen and how can you avoid it? Thread 🧵 pic.twitter.com/L2q9PZ5sbz
— Kyber Network (@KyberNetwork) September 16, 2022
After the fork occurs, there is a significant risk that the event of one chain is exploited in another chain. For example, a money transfer PoS on Ethereum (the “official” post-merger blockchain) can be replicated on a PoW hard fork chain without user permission.
It should also be noted that replay attacks can target both fungible tokens (ERC-20) and non-fungible tokens (NFTs). Therefore, Kyber Network experts recommend using separate wallets for working with ETH and ETHW tokens.
Also, avoiding using Ethereum in PoW (ETHW) and using small PoW versions of Ethereum (ETH) might be a smart bet, at least for the duration of the post-merger euphoria.
Ethereum on PoW (ETHW) Contributors Respond: “No Problem”
KyberSwap, the main protocol of the Kyber Network, allows users to exchange ETHW tokens for 30 days after the merge is activated.
Ethereum Contributors to PoW (ETHW) different opinion With the report of experts from Kyber Network (KNC). They emphasized that their network has built-in protection against such attacks:
ETHW has strong replay attack protection, so don’t worry!
As previously covered by U.Today, the Ethereum (ETH) network activated the Merge update in mainnet on September 15, 2022. Today, the ETHW tokens of its PoW hardfork were distributed among ETH holders.