Cybersecurity team claims up to $2.1B in crypto stored in old wallets are at risk

On November 14, cybersecurity company Unciphered raised concerns about a potential vulnerability named "Randstorm" that could impact millions of cryptocurrency wallets generated from 2011 to 2015. The company, while attempting to recover a Bitcoin wallet for a customer, identified a possible issue in wallets generated by BitcoinJS and related projects. Unciphered suggests that this vulnerability could affect millions of wallets, potentially putting up to $2.1 billion in crypto assets at risk.

The cybersecurity firm highlights that the vulnerability may extend beyond Bitcoin, impacting other cryptocurrencies such as Dogecoin, Litecoin, and Zcash. While Unciphered claims that not all affected wallets are equally at risk, it confirms that the vulnerability is exploitable. However, specific details about the exploitation were not disclosed to prevent providing information to malicious actors in the crypto space.

In response to this potential threat, Unciphered recommends users who have wallets generated between 2011 and 2015 to transfer their assets to more recently generated crypto wallets. This precautionary measure aims to safeguard users' crypto holdings from potential exploitation due to the identified vulnerability.

The emergence of such vulnerabilities underscores the importance of ongoing vigilance and security measures within the cryptocurrency space. Users and service providers are encouraged to stay informed about potential risks and take proactive steps to mitigate them, ensuring the security of their digital assets.

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