IOTA Foundation, the nonprofit organization behind the IOTA cryptocurrency, has shut down its entire network this week after hackers exploited a vulnerability in the official IOTA wallet app to steal user funds.
The attack happened this week, Wednesday, February 12, 2020.
Within 25 minutes of receiving reports that hackers stole the funds from user wallets.
The IOTA Foundation shut down "Coordinator," a node in the IOTA network that puts the final seal of approval on any IOTA currency transactions.
Hackers used an exploit in a third-party integration of Trinity, a mobile and desktop wallet app developed by the IOTA Foundation.
Hackers targeted at least 10 high-value IOTA accounts and used the Trinity exploit to steal funds.
Source: https://www.zdnet.com/article/iota-cryptocurrency-shuts-down-entire-network-after-wallet-hack/
TPRM report: https://www.rankiteo.com/company/iotafoundation
"id": "iot2037201222",
"linkid": "iotafoundation",
"type": "Vulnerability",
"date": "2/2020",
"severity": "25",
"impact": "2",
"explanation": "Attack limited on finance or reputation"{'affected_entities': [{'industry': 'Cryptocurrency',
'name': 'IOTA Foundation',
'type': 'Nonprofit organization'}],
'attack_vector': 'Third-party integration of Trinity wallet app',
'date_detected': '2020-02-12',
'description': 'IOTA Foundation, the nonprofit organization behind the IOTA '
'cryptocurrency, has shut down its entire network this week '
'after hackers exploited a vulnerability in the official IOTA '
'wallet app to steal user funds.',
'impact': {'downtime': 'Entire network shutdown',
'financial_loss': 'Unknown amount of IOTA currency',
'systems_affected': 'IOTA network Coordinator node'},
'initial_access_broker': {'entry_point': 'Trinity wallet app',
'high_value_targets': 'At least 10 high-value IOTA '
'accounts'},
'motivation': 'Financial gain',
'post_incident_analysis': {'root_causes': 'Vulnerability in Trinity wallet '
'app'},
'response': {'containment_measures': 'Shutdown of Coordinator node'},
'threat_actor': 'Unknown hackers',
'title': 'IOTA Foundation Network Shutdown Due to Wallet App Exploit',
'type': 'Cryptocurrency Wallet Exploit',
'vulnerability_exploited': 'Exploit in Trinity wallet app'}