Cryptocurrency Zcash Had a Security Flaw (Now Fixed)
If you own Zcash cryptocurrency, a security flaw was found and fixed. Your funds are safe if you keep your software updated.
Source
Schneier on Security
Original headline: Critical Zcash Vulnerability Found and Fixed
Plain-English summary by GetCyberRight. Read the full report at the source above.
On May 29, a security researcher named Taylor Hornby discovered a serious security problem in Zcash, a type of cryptocurrency that focuses on keeping transactions private. The issue was in a system called the Orchard pool, which is the newest part of Zcash designed to protect user privacy.
The good news is that the Zcash team hired Hornby specifically to look for problems like this, and they fixed it quickly. This issue affects people who own or use Zcash cryptocurrency.
If you have Zcash stored in a digital wallet that uses the Orchard privacy feature, this vulnerability could have potentially affected your funds. However, the Zcash team has already released a fix for the problem.
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Here is what you should do right now if you own Zcash. First, update your Zcash wallet software to the latest version immediately. Check the official Zcash website or your wallet provider for update instructions. Second, if you use Zcash through an exchange or online service, make sure they have updated their systems. Most major services update automatically, but you can contact their support to confirm. Third, monitor your Zcash balance and transaction history for any unusual activity. For long term cryptocurrency safety, always keep your wallet software updated. Enable all available security features, including two factor authentication on any accounts that hold cryptocurrency. Only download wallet software from official sources, never from third party websites.
Remember that cryptocurrency investments carry risks beyond just security issues, so only invest money you can afford to lose.
Curated from trusted cybersecurity sources by GetCyberRight
Source: Schneier on SecurityStay ahead of cyber threats
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