More than half of the nodes in the Ethereum network have been affected by the bug, so it is advisable to temporarily abandon making transactions.
The problem is related to the Ethereum client (Geth). The affected nodes are mainly those using v1.10.7 and earlier versions of the software.
Unexpected problem in the Ethereum network
At 4:37 p.m., Twitter(@go_ethereum) reported that the Ethereum network’s main chain had split. While the issue was resolved in v1.10.8, most nodes have not been updated. Therefore, if anyone has not already done so, they should update immediately.
“A chain split has occurred on the Ethereum mainnet. The issue was resolved in the v1.10.8 release announced previously. Please update your nodes, if you haven’t already!”
In the current situation, nodes running on an older version of Geth (more than half of the devices involved!) may be disconnecting from the Ethereum mainnet. One of the Ethereum developers Marius van der Wijden believes that this is not a coincidence. In his opinion, an unknown person or group of people have exploited a vulnerability present in older versions of the software. He recommends that everyone who has Ethereum validators running should update their software within the next ten hours.
“Users that run validators need to update their nodes quickly (in the next 10h I think) as they would otherwise vote on invalid committees”.
According to data from the EtherNodes website, of all Ethereum nodes, almost 75% run on Geth software. The problem, which could turn out to be one of the biggest such incidents in the network’s history, could affect up to 53% of all nodes.
What can be done in the current situation?
Those who have ETH nodes running should make sure they are using the new software version (v1.10.8). Regular users do not need to take any action, but for their own safety they should temporarily refrain from making any transactions. Such advice was given by Andre Cronje (founder of Yearn.finance), among others:
“Stay away from doing [transactions] for a while till confirmed, unless you are sure you are submitting to latest Geth”.