The Rainbow Bridge cross-chain bridge successfully repelled an attack by an unknown hacker on August 20th. Alex Shevchenko, CEO of Aurora Labs, spoke about this.
🧵 on the Rainbow Bridge attack during the weekend
TL; DR: similar to May attack; no user funds lost; attack was mitigated automatically within 31 seconds; attacker lost 5 ETH. pic.twitter.com/clnE2l8Vgz
— Alex Shevchenko 🇺🇦 (@AlexAuroraDev) August 22, 2022
The attacker sent a fabricated NEAR block, which required a deposit of 5 ETH (over $7,850 at the time of writing). According to Shevchenko, the unidentified person expected that it would be difficult for developers to respond to the attack on Saturday morning. ]
The system automatically rejected the fabricated block 31 seconds after the transaction was sent. As a result, the hacker lost his deposit, the users' funds remained safe.
Shevchenko added that they tried to carry out a similar attack on May 1. He suggested that the attacker participate in the NEAR network's Layer 2 (L2) protocol bounty program instead of “stealing users' funds and laundering them.”
The NEAR Protocol team launched the Aurora L2 protocol to interact with Ethereum in May 2021.
What is NEAR Protocol?
In May 2022, Aurora developers opened a fund of about $90 million to accelerate creating DeFi applications. Later, the 1inch Network project announced integration with the virtual machine of the Ethereum platform.
Recall that in August, the head of Aurora Labs products, Matt Henderson, uncovered an “exciting and sophisticated” scheme for fraud with a cryptocurrency OTC transaction, of which he almost fell victim became.
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