Riptide, a white hat hacker that found a vulnerability on Arbitrum, tweeted that his discover was eligible for the max bounty reward of $2 million as a substitute of the 400 ETH ($53,000) reward he acquired.
No large deal simply bridging a cool $470mm via the identical Inbox contract 👀
Undoubtedly needs to be eligible for a max bounty
🤯 https://t.co/w7S58QNQZu
— riptide (@0xriptide) September 20, 2022
Ethereum scaling software Arbitrum escaped a multimillion-dollar hack after the hacker noticed a vulnerability within the bridge connecting the layer2 community to ETH’s mainnet. The vulnerability affected how transactions are submitted and processed on the community and would have allowed malicious gamers to steal all of the funds despatched to the layer2 community.
The vulnerability
In accordance to the white hat hacker, incoming transactions to Arbitrum via the bridge might be hijacked by malicious gamers who may set their deal with because the recipient deal with.
Riptide continued that such an exploit may have gone undetected for a very long time if the hacker focused solely massive ETH deposits, or they might have simply front-ran the following main ETH deposit.
On condition that the most important deposit on the inbox contract within the final 24 hours was 168,000 ETH ($250 million), exploiting the vulnerability may have led to a lack of a whole lot of tens of millions.
Bounty reward
Whereas Riptide initially praised Arbitrum for the 400 ETH reward, the white hat hacker later tweeted that his work deserved the utmost bounty of $2 million.
Riptide said:
“My level is that in case you publish a $2mm bounty — be ready to pay it when it’s justified. In any other case, simply say the max bounty is 400 ETH and be performed with it. Hackers watch which tasks pay out and which don’t. IMO not a good suggestion to incentivize a whitehat to go blackhat.”
Riptide’s new feedback have been made after a Twitter consumer confirmed that the bridge was not too long ago used to switch over $400 million.
Doing this once more since my different quote tweet acquired censored by tweeter. Arbitrum bridge bug is important bridge bug #3 brought on by unhealthy initializers, in case we would have liked another excuse to eliminate initializers. Shocked Arbitrum solely paid 400 ETH and never max bounty given deposits like: https://t.co/Lx32UVjDtF pic.twitter.com/cmSx1HMI1k
— smartcontracts.eth (✨🔴_🔴✨) (@kelvinfichter) September 20, 2022
In the meantime, bridge exploits are one of many greatest safety issues within the crypto business presently. Assaults on bridges have led to the lack of virtually $1 billion previously yr alone.
