- A Twitter user revealed a bug to save the cross-chain bridge from hacking.
- The user tried to notify about the issue, but received no response from the Optimism team.
- This led him to unveil the bug in public.
The Day is Saved
Crypto hackers are trying their best to extract maximum value from the growing sector through vulnerabilities. Though the space persists on blockchain technology, it is not an attackproof shelter for networks. But tech enthusiasts out there are doing whatever they can to aid in software security. Recently, the tech lead of Arbitrum network came flying like Ironman’s Mark 38 “Igor” to reveal a bug on a cross-chain bridge.
BitBTC's Optimism bridge is trivially vulnerable. Their team has ignored my messages, so I'm going to publish the critical exploit here.
— Lee Bousfield (@PlasmaPower0) October 18, 2022
A bug was found crawling the cross-chain bridge connecting ETH L2 network Optimism and BitBTC. The Twitter user explained that it had a potential to allow attackers to mint fake tokens and exchange them for real ones. He said that he previously tried to warn them about the issue but no one replied, leading him to publish the vulnerability there.
According to the reports, the cryptosphere has already witnessed $3 Billion vanished by the attackers in 2022. Bridge attacks account for $2 Billion solely, where the Ronin Bridge remains the biggest hack of the year. In March 2022, North Korean hacker group, Lazarus, compromised the bridge to wipe around $625 Million from the network. Sky Mavis also promised to compensate and reopened the network in June 2022.
Apart from this, hackers compromised Wormhole Bridge in February 2022 and stole $320 Million. In August 2022, some attackers compromised the Nomad Bridge to bag $190 Million. Some malicious actors invaded Beanstalk Farms, a protocol to balance demand and supply of crypto assets, in April 2022 to exploit its governance structure and ran off with $182 Million.
A bridge acts as an intermediary to connect one blockchain to another, allowing transfer of assets among the ecosystems. A network of bridges can help increase the interoperability between different virtual environments.The metaverse platforms may benefit from them as experts think that a metaverse will actually be an interconnected realm of multiple virtual spaces, eventually creating a multiverse.
Crypto hacks are something the sector cannot avoid. No matter how hard the developers try, there’s always these snakes crawling the space to poison the ecosystems. A secure network can attract a lot of users, while the folks will not think about abandoning a vulnerable space for a second.
Developers should maintain their network by constantly updating cybersecurity of the network. The users need to be accountable to their actions too and avoid engaging with suspicious entities and environments in the crypto space. A proper coordination among devs and users can help any network secure and running.
Source: https://www.thecoinrepublic.com/2022/10/21/twitter-user-come-as-a-savior-for-the-cross-chain-bridge/