At least fifty-four percent of Ethereum nodes have been affected by a bug in older versions of Ethereum network client, Geth.
The bug has led to the splitting of these versions of the network from the main network.
Specifically, the bug affects version 1.10.7 or earlier versions. And the versions in this category represent about 75% of all Ethereum nodes, and 73% of Geth clients are still running the older versions.
This means that around 54% of Ethereum nodes are running with a major infrastructure bug.
A major concern among stakeholders following the big detection is that it could lead to double spending attacks in situations whereby cryptocurrency is spent but then the transaction is overwritten by the alternative chain.
A research indicated that the bug has the potential to impact other EVM-compatible chains. This particular feature has also been exploited by the same address on platforms like Binance Smart Chain and on Huobi ECO Chain by this address (H/t Peckshield). As at the time of writing this report, it appears that it has yet to have been exploited on Polygon.
Currently, Ethereum, which us the worlds second-largest cryptocurrency network, in terms of market capitalization, is experiencing a chain split due to the software bug because it affected a large quantity of full node clients.
Speaking on the impacts of the bug, Ethereum Foundation security lead Martin Swende, in a tweet, noted that miners were fortunate when it occurred.
“A consensus bug hit #ethereum mainnet today, exploiting the consensus-bug that was fixed in geth v1.10.8. Fortunately, most miners were already updated, and the correct chain is also the longest (canon),” Martin tweeted.
Weighing in on the impacts, Ethereum core developer, Tim Beiko explained that three mining pools appear to have been mining on the wrong version of Geth. These mining pools include Flexpool, BTC.com and Binance.
Tim noted that originally Flexpool reported the issue so was aware of it and that developers are getting in touch with the other two pools.
While a portion of nodes have split off from the network, it doesnt appear to be having huge ramifications yet. It appears that the majority of miners are running updated versions of Ethereum, meaning the hash rate is supporting the longest chain