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The blockchain forensics company AMLBot reveals a vulnerability in the USDT freezing mechanism that resulted in a loss of 78 million USD.
Gate.io News bot news, the blockchain forensics company AMLBot released a report revealing technical vulnerabilities in Tether's USDT freezing mechanism. According to Decrypt, due to latency between freeze requests and execution caused by multi-signature contracts, a total of over $78 million in funds has been lost across Ethereum and Tron networks since 2017.
Specific data shows that the losses on the Tron network reached $49.6 million, while the losses on the Ethereum network amounted to $28.5 million. The report indicates that 4.88% of blacklisted wallets completed 2-3 transactions during this latency period.
The security company PeckShield has confirmed the existence of the vulnerability and suggested to Tether to bundle the freeze requests with signatures into a single transaction to eliminate the time window. Currently, Tether has not responded to this incident.