Io.net CEO Ahmad Shadid has recently provided a detailed account of a Sybil attack that targeted the network. Shadid emphasized the company’s efforts to enhance security in the aftermath of the attack.
In a post published on social media, Shadid explained that the attackers took advantage of vulnerabilities to manipulate GPU availability and receive rewards from the decentralized computing network, which is based on Solana.
Following the discovery of the Sybil attack on April 27, Io.net’s team conducted a thorough analysis to understand how the network was exploited. They noticed a sudden surge in GPU connections, with approximately 1.8 million fake GPUs attempting to connect.
“Over the past 120 hours, we have been working diligently to remove the sybil attackers from the network, implement multiple security patches, and establish a new security model to prevent future incidents,” said Shadid. “During this period, I have been closely collaborating with the team.”
The attackers exploited a vulnerability that allowed them to imitate the signals sent by genuine GPUs, tricking the network into recognizing them as legitimate.
“As is the nature of many startups, we move quickly and sometimes encounter setbacks,” Shadid admitted. “In this case, something went wrong, and someone or a group attempted to exploit it.”
Shadid acknowledged that after launching their fundraising and incentives program in March, Io.net experienced a significant increase in GPU connections. Initially, these connections appeared normal, with stable clustering and valid heartbeats. However, the rapid growth overwhelmed their infrastructure, leaving the team unprepared to detect underlying vulnerabilities.
“This attack has been a painful lesson for me,” the CEO expressed. “I apologize to the community for allowing it to happen. Much of the criticism we have received is valid, and our team is taking it in stride.”
To strengthen network security and restore confidence, Io.net is implementing a series of measures. Firstly, they are enhancing the clarity and transparency of their user interface. The network’s dashboard now displays three key metrics, including the total number of connected GPUs/CPUs and verified GPUs/CPUs that have passed the Proof of Work process.
The technology team is also committed to transparency and will soon publish a list of known issues to keep the public informed about ongoing bugs and necessary updates.
Lastly, the business team is coordinating a network reboot, prioritizing the strengthening of supplier relationships and the swift restoration of the network’s operational capacity.
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