Do not Import Your ChainX 1.0 Wallet into the 2.0 Testnet

ChainX 2.0 main net test net will launch to the public very soon. As a user , Please do keep in mind: Do not import your ChainX 1.0 wallet into the 2.0 testnet. Doing so may result in asset loss.

Prevent Replay Attacks

When the blockchain system is upgraded, an attacker can theoretically perform a replay attack on the blockchain ledger. If a replay attack occurs, your account balance may be maliciously stolen, so do not import your 1.0 mainnet account into the ChainX 2.0 public beta to avoid asset theft.

What is a replay attack?

Replay attacks, also called playback attacks, is a type of network attack where malicious entities will intercept valid data and transmit them repeatedly on the network. Due to the validity of the original data (usually from authorized users), network security protocols usually treat such attacks as normal data transmission. At the same time, since the hacker who performs the replay attack intercepts the original information and retransmits it as it is, the hacker does not need to crack the data.

What damage can be done by replay attacks?

Blockchain ledgers usually undergo protocol changes or upgrades called “hard forks”. When a hard fork occurs, the existing ledger will be divided into two parts, one will run the legacy version of the software, and the other will run the updated version. When these hard forks occur, the attacker can theoretically perform a replay attack on the blockchain ledger. Transactions processed on one ledger may also be valid on another chain after the hard fork. Therefore, a person who accepts a certain amount of cryptocurrency on one ledger can switch to another ledger and copy the transaction, and fraudulently obtain the same amount of cryptocurrency a second time. Users who join the blockchain after the hard fork will not be subject to such attacks because the wallet is not part of the shared history of the ledgers.

In short: To avoid asset loss, do not import your existing wallet into the 2.0 testnet but create a new one instead.

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ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.