The central theses
- A bug in an old version of the Ethereum software client Geth caused a chain split in the Ethereum mainnet.
- The Flexpool, BTC.com and Binance pools had reportedly taken down the older version.
- Members of the crypto community have advised users to avoid transactions on the network until the problem is resolved.
Share this article
The Ethereum blockchain split due to a bug in the older version of Geth.
Failure leads to Ethereum fork
A bug affecting the older version of the Ethereum network client Geth causes nodes to split off from the main network. There is a risk that the bug could lead to double-spending attacks and loss to users making transactions.
A chain split has occurred in the Ethereum mainnet. The problem was fixed in the previously announced version 1.10.8. Please update your nodes if you haven’t already!
– Go Ethereum (@go_ethereum) August 27, 2021
While the bug has been fixed in Geth version v1.10.8, it is believed that many nodes are running the old, unpatched versions.
Tim Beiko, part of Ethereum’s “AllCoreDevs,” suggested that the Flexpool, BTC.com and Binance pools had mined on the older version of Geth.
The consensus error also affects chains other than Ethereum, including Polygon, Binance Smart Chain, xDAI, and others. Rumors are circulating on Twitter that the bug may already have been exploited by both Ethereum and Binance Smart Chain.
Polygon tweeted that most of the validators on its network have already updated to the latest Geth / Bor version.
Fortunately, the majority of Ethereum miners are running the updated version of the Geth client, which means there is no hard fork risk. As for the non-mining nodes that are running older versions of Geth, they are effectively barred from accessing the main network.
Now that the exploit is in the wild, it can be played on other networks like Polygon, BSC, xDAI, Görli. Be careful, try not to enter into any commercially significant transactions until things are cleared up.
– banteg (@bantg) August 27, 2021
As a precautionary measure, members of the crypto community have advised users against making any significant transactions on Ethereum and other chains until the problem is resolved and the majority of nodes are updated to the latest version of Geth software. “Stay off Txs for a while until confirmed, unless you are sure you are sending yourself to the latest geth file,” wrote DeFi developer Andre Cronje. “Take a walk outside, we all need that.”
Disclosure: At the time of writing, the author of this role was owned by ETH. Andre Cronje is a shareholder in Crypto Briefing.
Share this article
The information on or accessed through this website is obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the currency, completeness, or accuracy of any information on it Website or its access via this website. Decentral Media, Inc. is not an investment advisor. We do not give personal investment advice or other financial advice. The information on this website can be changed without prior notice. Some or all of the information on this website may be or become out of date, incomplete, or inaccurate. We may update outdated, incomplete, or inaccurate information, but we are under no obligation to do so.
You should never make an investment decision on an ICO, IEO or any other investment based on the information on this website and you should never interpret the information on this website as investment advice or rely on it in any other way. We strongly encourage you to consult a licensed investment advisor or other qualified financial professional when seeking investment advice on an ICO, IEO or any other investment. We do not accept compensation in any form for any analysis or reporting on ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
What is MEV? Ethereum’s invisible tax explained
By using their discretion to sequence transactions within blocks, miners can pull value from decentralized application users onto Ethereum, greatly reducing the user experience and increasing the stability of …
What is permanent loss and how can you avoid it?
DeFi has offered traders and investors new ways to make money from their crypto holdings. One of these options is to provide the Automated Market Makers (AMMs) with liquidity. Instead of holding assets …
People are searching Ethereum for lost NFT projects
Early Ethereum projects are exploding amid wild speculation in the NFT market. NFT fans draw archive NFT’s NFT collectors turn their attention to some of the oldest projects …
EIP-1559 has already burned $ 1 million worth of ETH
Since the London hard fork and the implementation of EIP-1559 earlier this morning, $ 1 million worth of ETH has been burned in less than three hours. EIP-1559 increases deflationary pressure on ETH Ethereums …