- White Hat recognized the huge Vulnerability in ETH to Arbitrum Bridge.
- White Hat received 400 ETH in reward for recognizing the vulnerability.
Globally popular hacker foundation White Hat hacker has laid bare a “multi-million dollar vulnerability.” on the bridge, which is helping Ethereum and Arbitrum in linking, and the group is rewarded with a huge amount of 400 Ether for recognizing the issue.
White hat hackers are popular on social media with the username Riptide. The hackers define the exploit as the use of an initializing function to set their bridge address which would hijack all incoming ETH deposits from those attempting to bridge funds from Ethereum to Arbitrum Nitro.
On September 20th, Riptide elaborated in its Medium post that “We could selectively target large ETH deposits to remain undetected for a longer period of time, siphon up every single deposit that comes through the bridge, or wait and just front-run the next massive ETH deposit.”
The hack could have netted tens or even hundreds of million worth of ETH as the biggest deposit riptide registered in the inbox was 168,000 ETH worth over $225 million; a typical deposit ranged from 1000 to 5000 ETH in 24 hours, valued between $1.34 to $6.7 million.
Instead of earning from ill-legal and unwanted means, Riptide expressed joy that the “extremely based Arbitrum team” rewarded them with 400ETH, worth over $536,500 but futhure the group posted on Twitter that this kind of find should be awarded a maximum $2 million.
No big deal just bridging a cool $470mm through the same Inbox contract
Definitely should be eligible for a max bounty
— riptide (@0xriptide) September 20, 2022
Arbitrum is the most widely embraced scaling resolution on Ethereum. It presently ranks first overall in Total Value Locked (TVL). TVL is a metric that measures the value stored in a protocol’s smart contracts. And for promising rollups and #7 across all blockchains.
Offchain Labs upgrades its ArbOS(Arbitrum Operating System) component that is now rewritten in the software programming Language Go. The upgraded version of ArbOS will enhance cross-chain communication between Arbitrum and Ethereum, including transaction batching and data compression, which will ultimately help in decreasing the cost of the Ethereum mainnet.
Source: https://www.thecoinrepublic.com/2022/09/21/white-hat-discovers-massive-vulnerability-in-eth-to-arbitrum-bridge/