Dogecoin network exploited by hackers – crashes 69% of nodes

Significant Dogecoin Vulnerability Exploited on December 12

On December 12, a critical vulnerability in the Dogecoin network was exploited, causing 69% of its active nodes to crash. This breach has raised concerns about the cryptocurrency's infrastructure security and resilience against potential future attacks.

Andreas Kohl, co-founder of Bitcoin sidechain Sequentia, revealed his responsibility for the hack via his X account. Kohl claimed he executed the exploit from "an old ThinkPad in rural El Salvador."

Vulnerability and Attack Details

The "DogeReaper" vulnerability, identified by researcher Tobias Ruck, was exploited by Kohl. An X account called "Department Of DOGE Efficiency" had first alerted the public about this issue on December 4.

The vulnerability enabled attackers to remotely crash Dogecoin nodes by targeting their addresses and triggering segmentation faults. In computing, segmentation faults occur when a program accesses unauthorized memory, causing the operating system to halt the program and result in a crash.

Network Impact and Concerns

The "Department Of DOGE Efficiency" account warned of the vulnerability's potential to halt the entire Dogecoin network, disrupting transactions and block generation for days. While Kohl's exploit did not completely halt the blockchain, the significant reduction in active nodes raises concerns about the network's decentralization and robustness. Efforts are underway to patch the issue and restore node functionality.

Dogecoin Price Performance

The security breach occurred during market volatility for DOGE. After a 208% surge in early November, the cryptocurrency has traded within a narrow range of $0.35 to $0.48 in the past month. At the time of writing, DOGE is trading at $0.41.

Some analysts have observed a potential for Dogecoin to rebound, citing a recent reset in its relative strength index (RSI). Santiment, a data analytics platform, also pointed to bullish signals, including a decrease in the "mean dollar invested age" of circulating coins. This trend suggests that previously dormant coins are re-entering circulation, indicating growing investor interest in Dogecoin despite the recent downturn.