Network bridges have come into question following several unsuccessful stories of either exploiters commandeering bridges or the funds getting stuck.
The attack, which was detected by PeckShield, and confirmed by De.Fi Web3 antivirus saw exploiters steal 4,323.6 ETH, worth approximately $7.2 million at present rates. After the attack, the hacker used the Across Protocol to move approximately 1,490 Ether, and the 2,832.92 Ether moved through the Optimism Bridge.
In their nascent stages, the bridges have limited liquidity,tokens get locked in smart contracts as a balance between the tokens locked and unlocked on either side of the transaction chain. With this, hackers establish a vector to execute their attack. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exactly Protocol exploited for over $7 million on Optimism Layer 2 network: BlockSecExactly Protocol, a DeFi project that offers interest rate markets on the Optimism Layer 2 network, has become the latest victim of a security attack.
Read more »
Optimism-Based Exactly Protocol Hacked: Over $12M in Ether DrainedThe specifics of the exploit have not been disclosed by the DeFi project.
Read more »
Chrome will soon explain exactly why your extensions were removedIt will apply to ones taken down due to malware, policy violations or a decision by the developer..
Read more »
How Exactly Does a Texan Get an Abortion These Days?We answer your four pressing questions
Read more »
Evan's Story: Children's Memorial Hermann Hospital Gave our Son Renewed Hope and OptimismEvan's Story
Read more »
What Is Magnesium Good for, Exactly?Dietitians and doctors answer the question, 'what is magnesium good for?' and break down all of its health benefits — plus, the best food sources.
Read more »