Haven Protocol Faces Security Breach Due To Vulnerability

According to Foresight News, Haven Protocol, an algorithmic stablecoin protocol, has issued a warning about a security breach. The breach is attributed to a vulnerability in the 'range proof verification' process, which has allowed hackers to maliciously mint XHV without detection. Reports from exchanges indicate that the number of XHV tokens exceeds 500 million, while audit data shows the current supply is only 263 million. The excess tokens are likely generated through this vulnerability. The Haven Protocol team has identified the issue as stemming from code introduced in Haven 3.2, which was restructured based on Monero. In response to the breach, the team has advised exchanges to halt all trading pairs involving XHV. This precautionary measure aims to prevent further exploitation of the vulnerability and to safeguard the integrity of the token's supply. The incident highlights the challenges faced by decentralized finance protocols in maintaining security and trust. As the team works to address the vulnerability, the focus remains on ensuring that similar issues do not arise in the future. The Haven Protocol community and stakeholders are closely monitoring the situation as the team continues its efforts to resolve the breach and restore confidence in the protocol.