Optimism loses 20M tokens after L1 and L2 confusion exploited
Although the airdrop took place less than two weeks ago, problems have already arisen for the vaunted layer-2 scaling solution’s team and market maker. The honeymoon period for the Optimism layer-2 scaling solution has been cut short as an exploit in its market maker’s smart contract led to the loss of 20 million OP tokens.The exploit took place May 26 but has only just been reported to the community. One million tokens valued at about $1.3 million were sold on June 5. An additional one million tokens valued at about $730,000 were transferred to Vitalik Buterin's Ethereum address on....
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Ethereum scaling startup Optimism disclosed a “critical bug” fix in the project’s Geth fork that would have allowed malicious hackers to create infinite ETH Developers from the Ethereum Layer 2 scaling project Optimism announced that a “critical bug” had been identified and subsequently patched earlier this month. The bug, which could have enabled hackers to create as much ‘ETH’ in a Optimism account balance as they wished, was first discovered by white hat hacker and iOS jailbreak software Cydia developer Jay Freeman. Last week, I discovered (and reported) a critical bug (which has been....
Bitmart, a cryptocurrency exchange, suffered an attack yesterday that exploited some security vulnerabilities in order to gain access to the funds of the exchange. The attack targeted the hot wallets of the platform, specifically the Ethereum and Binance Smart Chain-based wallets. The hackers managed to take almost $200 million in tokens from the platform.
Bitmart Hot Wallets Exploited
Bitmart has lost more than $200 million in a hack that involved its hot wallets yesterday. The issue was first identified by Peckshield, a blockchain security and auditing company, that raised the....
The Optimism native token OP is now in the line of fire with millions of tokens set to be released into circulation. This threatens the altcoin’s price which is already on a downward spiral after carrying out its 3rd airdrop. Optimism Set To Unlock 24 Million Tokens In the latest iteration of its token unlock events, the Optimism network is looking at over 24 million tokens being unlocked and brought into circulation. On-chain token tracking website Token Unlocks reports that the 24.16 million token is worth approximately $30.7 million at current prices. Related Reading: Market Analysts....
The inventor of Ethereum Vitalik Buterin was the unintended recipient of 1 million OP tokens from this network’s scalability solution Optimism. The team behind this project addressed concerns about a potential exploit related to the launch of their governance token. Related Reading | TA: Bitcoin Stuck In Key Range, Why A Major Breakout Is Possible As clarified by Optimism, they entered a deal with liquidity provider Wintermute to “facilitate a smoother experience for users” looking to buy OP and participate in the project’s governance model. As part of the agreement, Optimism sent 20....