Hacker tries to exploit bridge protocol, fails miserably
The attempt was suppressed within 31 seconds, with the attacker losing their 5 ETH safety deposit. Cross-chain bridges have increasingly become targeted by malicious entities. However, not all hackers can run away with millions in their exploit attempts. Some end up losing money from their own wallets. In a Twitter thread, Alex Shevchenko, the CEO of Aurora Labs, told the story of a hacker who attempted to exploit the Rainbow Bridge but ended up losing 5 Ether (ETH), worth around $8,000 at the time of writing. According to Shevchenko, the hacker has presented a falsified NEAR block to the....
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The exploit took place on the Ethereum-BSC bridge that saw the hacker use $185 million as collateral to steal $80 million worth of tokens from lending pools. The development team behind Bunny Finance and Qubit has decided to disband the protocol and turn it into a decentralized autonomous organization (DAO).In an official medium post published on Friday, The Bunny Finance team announced that the exploit on Qubit that resulted in $80 million worth of loss has made it impossible for the team to operate at full scale. Thus, they have decided to disband the protocols and give authority to the....
Network validators were able to identify unusual activity in the platform’s AMM metapools and prevent the fraudulent transaction. Cross-chain protocols are continuing to face challenges, with Synapse Bridge narrowly averting a multi-million exploit.On Nov. 7, Synapse Bridge announced on Discord they had prevented a hacker from draining approximately $8 million USD from the Avalanche Neutral Dollar (nUSD) Metapool. The hacker attempted to exploit a vulnerability using the bridge to transfer assets from Polygon (MATIC) to Avalanche (AVAX). Synapse is a cross-chain bridge designed to....
Under the agreement, more than $2 million would be returned to Transit Swap users. On Oct. 10, decentralized finance (DeFi) protocol Transit Swap announced that it had reached an agreement with its biggest hacker for the return of funds. Approximately one week prior, a hacker exploited an internal bug on a swap contract within the protocol and caused other individuals to imitate the security breach, leading to a loss of over $23 million in user funds. However, the main hacker has since returned approximately 70% of exploited funds thanks to the help of security companies such as....