The news had started to turn in the late afternoon yesterday and now confirmation has arrived directly from Parity Technology; according to Sergio Demian Lerner, security expert, the attack was launched by sending blocks with invalid transactions to the Parity nodes but whose header, instead, taken from other blocks, was found to be valid.
Trivially, therefore, it was precisely this that caused the synchronization of the nodes that use Parity as clients to be lost and, despite being a not particularly sophisticated technique, it could potentially have been enough to break down the entire Ethereum network; to report it was the software developer Liam Aharon, whose statements were raised by cointelegraph in an article published today.
Also according to Aharon, this type of attack could become very common during 2020.
In any case, already last May the security of the Ethereum network had been questioned following what was detected by SRLabs (global research collective in the hacking field) and that is that Ethereum clients had not yet corrected the vulnerabilities that emerged at the beginning of the year, thus endangering the security of the entire network.
In practice SRLabs simply realized that a large part of the Ethereum nodes that used the most popular clients (Parity and Geth) had never been updated after the release of the patches that were supposed to solve the previously identified security defects; it was SRLabs itself to declare that:
According to our data, only two thirds of the nodes have so far been updated with the latest patches. Shortly after reporting this vulnerability, Parity released a security warning, urging participants to update the nodes
The market, as it was easy to understand, responded in a rather nervous way to these news and, despite the large increases recorded by ETH on Sunday, the price began to suffer from bearish pressure from the bears and in this moment it seems to have formed a double top pattern which, probably, could give rise to a heavy dump starting from the next few hours.
When it seemed that ethereum was ready to come out of the quicksand, then "a new tile between head and neck" of the supporters of Ethereum fell, a platform that for some time seems to be navigating in unsafe waters and whose graphics are becoming increasingly disturbing with each passing month.