Red Fox Crypto

Later today, we are officially ending all remaining support for the Iron Fish network. A few days ago, we observed abnormal activity involving wIRON and the ChainPort bridge. After working with ChainPort and reviewing their logs, we discovered that the cause was an inflation bug in the Iron Fish blockchain itself. We traced the bug to a commit from early 2019 in the Merkle tree implementation. The developer at the time implemented a standard Merkle tree. However, because of nuances in how a note’s nullifier is calculated (the mechanism that lets a normal user spend their funds), the attacker was able to spend the same note more than once. The attacker then compounded the exploit, aggregated their notes, and exited through the ChainPort bridge. This code path was within the scope of both our external and internal audits, but the bug wasn’t caught during review. For closure, we’ve committed the patch for the exploit, with a detailed postmortem included in the PR, before shutting down and archiving the ironfish repo. The meta-analysis here is that software that can’t be upgraded immediately (most of crypto), is in an extremely precarious position. The ability to find and exploit vulnerabilities in technically complex code is becoming commoditized. Safety guardrails on US frontier models make it difficult for companies to use them to patch security vulnerabilities, while abliterated open-source models are approaching frontier capabilities. We wish everyone all the best, and we hope crypto finds a path through this. Thank you all.

Elon, have a lot of respect for you, but bad time to troll. Please stop. Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion. Would appreciate if you show a little support. Thanks!

I want to speak to you directly about what happened. Bottom line - your money is safe, and we're covering every loss. Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions. To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual. So far, we have found no evidence of any wallet private key leak. We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete. What you need to know: • Your funds are safe • Binance will cover all losses from the SAFU fund and company funds • Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners • No evidence of any wallet private key leak • Deposits are unaffected and operating as normal What we've done: • Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses • Revoked the affected address authorizations • Engaged law enforcement and blockchain intelligence partners to trace and recover funds Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.

User funds are safe! It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m). I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.

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Future quantum computers could break Bitcoin's cryptography. Quantum-resistant addresses might be essential, but moving old or inactive coins could be a challenge. @RedFoxCrypto 🔗 Watch the full video: youtu.be/Po9DXWeAzgw

Mission S. Authentic. Consistent. Timeless. A glimpse into the future - shaped by our heritage. Mid-engine architecture. A focus on the driver and the driving experience. Call it a love letter.

LATEST: @Ledger announces the Atom, an Android-based device launching mid-2027 that combines everyday smartphone apps with hardware-level crypto security. It features a tamper-proof enclosure designed to block the screen-reader implants used in last week’s attack.