Blockchain Ethereum

Etherscan hacked – consequences could have been grave

Etherscan hacked - consequences could have been grave

Blockchain is about transparency and nothing that’s written on the blockchain needs to be hidden. This property led to hack of the popular service Etherscan wherein hackers managed to add a pop-up to the site displaying “1337.”

While the hack was harmless and didn’t have any major repercussions, there could have been major consequences to the extent that it could have disrupted the crypto market for sometime. The hack itself wasn’t exactly revolutionary — the hacker simply added a pop-up to the site displaying “1337,” decades’ old hacker lingo for “you’ve been hacked.”

To get the pop-up hackers left a comment on the site. Users who visited Etherscan were shown the pop-up. Etherscan users took to Twitter to warn other of the hack, and later on Monday, the Etherscan team posted an update on the situation via Reddit.

The company quickly disabled the comments, then developed and tested a patch to address the vulnerability. They confirmed that the “hack” didn’t compromise the funds of any Etherscan users.

Things could have been worse! Hackers could have caused much bigger waves in the crypto community. They could have manipulated graphs or prices on the site and could have caused a buy or sell fury thereby impacting the markets for some time.

About the author

Richard Newman

Richard Newman

Richard is the Editor-in-chief of Bitcoin Journal. He has over 10 years of experience with the news industry mainly handling the editorial cycle.

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