Fetch.ai ($FET) Announces Upgrade Plan to Occur on the 1st of April, 2025, at 13:00 UTC

Fetch.ai ($FET), one of the members of the Artificial Superintelligence Alliance, has announced its upgrade plan that will be held on the 1st of April, 2025, at 13:00 UTC if the Governance Proposal #35 will be approved.

Interoperability has been a key focus for blockchain networks in 2024, and protocols like Inter-Blockchain Communication (IBC) have taken center stage. However, vulnerabilities in such protocols can have wider implications, as seen in a recent report by a third-party cybersecurity firm.

According to the report by CertiK, an emerging blockchain security, safety, and analysis company, vulnerabilities in IBC protocols could be exploited by attackers to steal crypto funds.

“A vulnerability in the Inter-Blockchain Communication (IBC) protocol could allow an attacker to gain control of a validator node and steal tokens from the chain, researchers at blockchain security firm CertiK have warned. The vulnerability, dubbed ASA-2025-04, exists in a software library used by several blockchain validators to connect to the IBC network. An attacker could exploit this vulnerability by sending a specially crafted message to the validator node. This message would cause the node to execute arbitrary code, which could allow the attacker to take control of the node and steal tokens,” the report said.

The report comes as several protocols are announcing updates to adjust to changes in the market and technology. Among them is Fetch.ai (FET), one of the members of the Artificial Superintelligence Alliance.

Fetch.ai Upgrade Plan Announced

According to an announcement by Fetch.ai on Friday, its upcoming upgrade is scheduled for April 1, 2025, at 13:00 UTC, subject to the approval of Governance Proposal #35. The update will include essential security and operational enhancements and is set to occur at the block 21,267,067 and last about an hour.

A key focus in the upcoming release will be the fix of ASA-2025-04, a reported vulnerability that affects the Inter-Blockchain Communication (IBC) protocol. The patch is meant to strengthen the network’s defenses against possible threats that might exist in connection with IBC functionality.

The report by CertiK said that the vulnerability is used by several chains, and an attacker could send a specially crafted message to a validator node. This message would cause the node to execute arbitrary code, which could allow the attacker to take control of the node and steal tokens.

“The vulnerability is a buffer overflow vulnerability in the ibc-go library. This library is used by several blockchain validators to connect to the IBC network. The vulnerability occurs in the code that handles messages from other chains. When a validator receives a message from another chain, it is parsed and processed by the ibc-go library.

“If an attacker sends a message that is not properly formatted, it could cause a buffer overflow in the ibc-go library. This could allow the attacker to execute arbitrary code on the validator node. For example, the attacker could add a new command to the validator node’s software that allows them to steal tokens from the chain.

“The vulnerability is serious and could be exploited to carry out various attacks, including a theft of tokens, downtime of the chain, or even a complete takeover of the network. It is important for validators to update their software as soon as possible to patch the vulnerability,” the statement reads in part.

With this solution, Fetch.ai aims to maintain the integrity and safety of its blockchain application and platform.

Validator Functionality Expanded

Besides security improvements, the update allows for importing validator keys based on the secp256k1 and ed25519 encryption standards. This new feature is aimed to simplify crucial management operations for validators, and improve adaptability depending on the type of signature system with which they are operating.

All validators are urged to refer to the upgrade plan in advance of the block to prepare for the update during the network maintenance. The development team has also promised to add a follow-up update once the upgrade process is over.

The technical community has called on all stakeholders in the Fetch.ai network to be up to par with the transition plan in order to not cause downtime in services during the maintenance period.

AI and Price Momentum Align with ASI Push

Subsequently, Fetch.ai is progressing on its core infrastructure and beyond. Recently, the company unveiled the ASI-1 Mini model in partnership with the Artificial Superintelligence Alliance. The model is designed specifically for the Web3 use cases where AI goes further in integrating with blockchain operations.

ASI-1 Mini is designed to have low system demands, but not at the expense of speed. It achieves comparable performance to other AI systems, such as GPT-3.5 Turbo, but at a considerably lower cost. The model also gives the public a role in the development of AI, which disbands domain and brings ownership to the public Web3 community.

This momentum appears to show increased investor interest. According to recent market data, the FET token was priced at $0.4584 and was 4.01% down in the last 24 hours. However, 24-hour volume rose by 7.5