CertiK Receives $500k Reward by SUI Network for Finding Vulnerability

• The identified assault can render networks completely inoperable.
• Sui network has deployed precautionary measures to protect the blockchain from harm.

CertiK, a blockchain security company, was awarded a $500,000 prize by the Sui network for reporting a problem that may have affected the whole layer-1 blockchain.

The CertiK team, in a statement, said that the “HamsterWheel” vulnerability was unique in comparison to other assaults that have shut down blockchains by crashing nodes. This attack ensnares nodes, making it so they can’t process any new transactions but may keep running in place like hamsters on a wheel. The assault might even render networks completely inoperable.

Proactive Security Measures

Before Sui’s mainnet launch, the security firm found and reported the flaw to the company. In light of the security risk, the Sui network has deployed precautionary measures to protect the blockchain from harm.

Sui decided to reward the security company CertiK with a $500,000 bounty for all of their hard work. CertiK claims this underlines the need for proactive security measures and bug reward programs. CertiK’s chief security officer Kang Li has said that blockchain network risks are always developing and changing.

The release states that further technical information would be disclosed and made accessible in the near future. In addition, after all, countermeasures have been implemented and rigorously evaluated, complete reports will be made public.

On the other hand, a cyberattack was launched on the European Investment Bank (EIB), the biggest multilateral lender in the world.

The Western banking system is in imminent danger, and Russian hackers are widely suspected as the culprits. In addition, pro-Russian Killnet hackers stated on telegram that they had breached EIB’s network.

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