HomeBlockchainCrypto news: critical vulnerability discovered in Tron's Multisig mechanism

Crypto news: critical vulnerability discovered in Tron’s Multisig mechanism

The crypto security research team by the name 0d, a division of Dwallet Labs, recently published a report containing some crypto news affecting Tron.

Specifically, it appears that a critical vulnerability has been discovered in the Tron network’s native multi-sig mechanism. 

The team’s experts explained that the above vulnerability may have impacted some digital assets held in multi-sig accounts worth more than $500 million

However, it appears that Tron has fixed the problem by creating a patch for the bug. Full details are below. 

Dwallet Labs’ 0d report explained in detail

As anticipated, on 30 May 2023, the 0d research team at Dwallet Labs released a report denouncing a vulnerability in Tron’s native multisig scheme. 

As the report states, the vulnerability allows any signer of a multisig account to bypass network security measures, regardless of the designated threshold and number of signers. 

“This vulnerability impacts over $500 million of digital assets held in Tron’s multi-sig accounts.”

However, it appears that Tron developers were informed of the bug as early as 19 February 2023 and hence promptly created a patch to fix the problem. 

In addition, 0d said that most Tron validators have already implemented the patch to prevent any potential exploitation of the vulnerability. 

“We received a bounty for a high-severity vulnerability via Tron’s bounty program.”

0d, goes on to explain that the vulnerability originated from the multisig transaction verification process within the Tron network. 

As a reminder, network security is based on the uniqueness of signatures for identical messages from an individual. 

However, because of the deterministic signature generation process described in RFC document 6979, an untrusted signer could use several nonce (random numbers) to generate multiple valid signatures for the same message using the same private key.

The discovery of the bug in Tron’s multi-sig mechanism came at the same time as the discovery of a privacy vulnerability in the Monero blockchain

The bug is believed to have been present on the Monero network for three years and has been fixed since then. 

Speaking about Tron’s multi-sig problem, 0d researcher Omer Sadika explained that thanks to the implementation of the fix, $500 million is now “secured.”

Focus on the price of the crypto Tron (TRX)

Based on the latest data, we see that over the past few days, the price of the crypto Tron (TRX) has begun a steady rise from the $0.0712 support zone against the US dollar.

In fact, the price of TRX has managed to break through the $0.0755 zone.

In addition, TRX has been trading above the $0.0780 and $0.0788 levels to move further into a positive zone. 

Currently, the price is trading below $0.0780 and the 55-period simple moving average (calculated over a 4-hour interval). 

On the upside, TRX is facing resistance near the $0.0770 level. The next major resistance is around the $0.078 level.

A close above $0.078 could push the price toward the $0.0800 resistance zone. While further gains could take the TRX price up to $0.0825, and beyond that level it could also rise toward $0.085

On the downside, however, first support is around the $0.0752 level. Furthermore, there is a major bullish trend line forming with support near $0.0752 on the 4-hour chart. 

The next significant support is forming around $0.0718 or the 61.8% Fibonacci retracement level of the upward wave, ranging from the swing low of $0.0669 to the high of $0.0798.

Should a downward break below the $0.0718 support occur, the price could retest the $0.0700 support. Further losses could push the price towards the $0.0665 area in the short term.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.