Olaoluwa Osuntokun, CTO of Lightning Labs Confirms the Lightening Networks Vulnerabilities

After an Australian coder warned users of the lightning network vulnerabilities on Twitter, a startup claims to have found instances where these vulnerabilities have been capitalized on.

The Lightning Network vulnerabilities were first reported on the 30th of August by Rusty Russell a computer software programmer and LN coder, he took to Twitter to warn users to upgrade their software to avoid loss of funds.

In a brief statement on the Linux Foundation’s domain on the 10th of September, Olaoluwa Osuntokun, the CTO at LN-focused startups Lightning Labs and ACINQ claimed that there are confirmed cases where the LN vulnerabilities have been exploited. He urged users to update their LN versions to avoid loss of funds.

The affected versions of the Lightning Network include eclair nodes version 0.3 and below, c-lightning nodes version 0.7 and below, LND nodes version 0.7 and below.

After the announcement Lightning Labs also tweeted out a warning advising users to be cautious, reminding users that there are limits to what can be done to alleviate fund loss at this stage, and users should not put more money on the LN than they are willing to lose.

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