The Ethereum Foundation published the first report as part of the Trillion Dollar Security initiative, highlighting six key threats to the security of the Ethereum ecosystem. The first issue is the human factor: users often store seed phrases insecurely, writing them down in text files or cloud services, which increases the risk of losing funds due to mistakes or hacks. The second threat is the centralization of staking, particularly due to the dominance of providers like Lido, which may lead to transaction censorship. The third is the insufficient development of the 'social slashing' mechanism to punish malicious validators. The fourth involves vulnerabilities in smart contracts, which are often copied with errors, as shown by a 2018 analysis. The fifth threat involves attacks on wallets, including phishing and transaction replay attacks. Finally, the long-term risk is associated with quantum computers that could break cryptography $ETH .
These challenges underscore the need to enhance security to protect the ecosystem's capital, which exceeds $600 billion. Ethereum developers plan to strengthen security to ensure network resilience. Stay updated on blockchain and security news by subscribing to #MiningUpdates .
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