A problem in an earlier version of Geth has led the Ethereum mainnet to divide. Nodes using the outdated client are being blocked from connecting to the main network. This could lead to double-spending and lost funds for those who use the network.
The Ethereum mainnet has forked due to a problem in the old version of Geth, according to Go Ethereum. He urges all nodes to update to the latest version 1.10.8, which was issued just a few days ago. On the Ethereum mainnet, a chain split has happened. The problem was fixed in the previously mentioned v1.10.8 release. If you haven’t already, please update your nodes! — Ethereum (@go ethereum) 27 August 2021
In response to the danger of a hard fork, Ethereum engineer Tim Beiko claims that the Flexpool, BTC.com, and Binance pools have started mining on the old, unprotected version.
Other chains, such as Binance Smart Chain (BSC), Polygon, and DAI, may potentially be affected and vulnerable to exploitation by the issue.
On Twitter, rumors are swirling that the BSC has already been harmed.
According to reports, the fork has prompted 54 percent of nodes to depart from the Ethereum main net.
At the time of writing, ETH gas fees are significantly higher than the industry average.
Developers are advising Ethereum users to postpone any transactions on the Ethereum network until the situation is fixed. It might also be a good idea to avoid any significant transactions on related chains.