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Blur Founder: The acceptance of the unit price hanging function has been reactivated and will provide refunds and compensation to affected traders

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On April 22nd, Pacman, the founder of Blur, tweeted that around 11:00 Beijing time on April 22nd, Blur detected a vulnerability in message processing that affected some bids cancel

Blur Founder: The acceptance of the unit price hanging function has been reactivated and will provide refunds and compensation to affected traders

On April 22nd, Pacman, the founder of Blur, tweeted that around 11:00 Beijing time on April 22nd, Blur detected a vulnerability in message processing that affected some bids cancelled within the past 80 hours. After detecting the vulnerability, the team immediately disabled the “accept hanging unit price” feature. Within 30 minutes, 36 affected unit prices were accepted. Afterwards, Blur fixed this issue and enabled the unit price hanging function on April 22nd at 14:05 Beijing time. Before activating the accept unit price, any current unit price higher than the floor price will be automatically cancelled.

Blur Founder: The acceptance of the unit price hanging function has been reactivated and will provide refunds and compensation to affected traders

I. Introduction
– Brief description of the issue
– Importance of addressing the issue
II. The Vulnerability in Message Processing
– Details about the vulnerability
– How it affected bids cancelled within the past 80 hours
– Immediate actions taken by the Blur team in response
III. Disabling the “Accept Hanging Unit Price” Feature
– Reasons for disabling the feature
– Effectiveness of the action
IV. The Acceptance of Affected Unit Prices
– The number of affected unit prices accepted
– Possible consequences of accepting affected unit prices
V. Fixing the Issue and Enabling the Hanging Unit Price Function
– How the issue was fixed
– Timeframe of the fix
VI. Activating the Accept Unit Price
– Conditions before activating the feature
– Automatic cancellation of current unit prices higher than the floor price
VII. Conclusion
– Summary of the issue and actions taken
– Importance of vigilance in cybersecurity
#Table 2: Article
# Pacman’s Tweet Reveals Blur’s Detection and Response to Vulnerability in Message Processing
On April 22nd, Pacman, the founder of Blur, shared on his twitter that the team had detected a vulnerability in message processing that had an adverse effect on some bids cancelled within the past 80 hours. Promptly, the team took action to disable the “accept hanging unit price” feature in response. In this article, we will delve deeper into the issue, the subsequent actions taken by the team, and their effectiveness.

The Vulnerability in Message Processing

According to Pacman’s tweet, there was a vulnerability in message processing that impacted some bids cancelled within the past 80 hours. Details about the vulnerability have not been disclosed, but we can assume that it disrupted the smooth flow of operations within Blur’s ecosystem. The fact that this vulnerability went unnoticed for an extended time makes us question the security protocols and testing methods used by the team at Blur. However, commendable is the swiftness with which the team realized the vulnerability and took appropriate measures.

Disabling the “Accept Hanging Unit Price” Feature

To address the vulnerability, Blur’s team took a cautious approach and promptly disabled the “accept hanging unit price” feature. This feature allows users to bid at a price higher than the current highest bid. While it promotes bidding competition, it also poses a risk of overbidding or accepting offers at exorbitant prices. In disabling the feature, the team prevented further exploitation of the vulnerability in message processing and mitigated the risk posed to users.

The Acceptance of Affected Unit Prices

While the team took swift action to disable the “accept hanging unit price” feature, 36 affected unit prices were already accepted within the 30 minutes following detection of the vulnerability. The implications of accepting the affected unit prices are not clear, but it could have impacted the competitiveness of future bids, and profitability and transparency of the platform. It is unfortunate that the vulnerability, which could have been detected earlier, was not discovered until after users had been adversely affected.

Fixing the Issue and Enabling the Hanging Unit Price Function

The Blur team was proactive in fixing the vulnerability and re-enabled the “accept hanging unit price” feature within the same day the vulnerability was detected. The timeframe highlights the team’s commitment to ensuring a high level of operational efficiency regardless of possible hiccups. The lack of information regarding how the issue was fixed is disappointing, and the lack of transparency does little to engender trust for the platform.

Activating the Accept Unit Price

Before activating the accept unit price function, the Blur team ensured that only the current unit price at or lower than the floor price could be accepted. Any other unit price higher would be automatically canceled. This is an essential measure to prevent the exploitation of the vulnerability similar to what occurred earlier.

Conclusion

In conclusion, the vulnerability in message processing identified by Pacman in his tweet emphasizes the significance of cybersecurity in the blockchain industry. The subsequent actions taken by the Blur team to protect their users from the vulnerability are commendable; however, more details on how the issue was resolved are necessary. Vigilance and prompt action in addressing cybersecurity threats are essential to protect the ecosystem’s integrity and prevent users from significant losses.

Unique FAQs

1. Who is Pacman, and what is his role in Blur?
Pacman is the founder of Blur, a blockchain-based marketplace. As the founder, he oversees the platform’s overall operations, direction, and vision.
2. Were users compensated for accepting the affected unit prices?
There is no information regarding whether users were compensated for accepting the affected unit prices.
3. What security measures does Blur have in place to prevent similar vulnerabilities in the future?
Blur has not disclosed the security measures it has in place to prevent similar vulnerabilities. However, we can assume they have tightened their security protocols following this vulnerability’s detection.

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