White hat finds huge vulnerability in ETH to Arbitrum bridge: Wen max bounty?

2 months ago 67

The ethical exploiter thanked Arbitrium for the 400 ETH payday, but said specified a find should beryllium eligible for the max bounty of astir 1,500 ETH, oregon $2 million.

235 Total views

6 Total shares

 Wen max bounty?

A self-described achromatic chapeau hacker has uncovered a “multi-million dollar vulnerability” successful the span linking Ethereum and Arbitrum Nitro and received a 400 Ether (ETH) bounty for their find.

Known arsenic riptide connected Twitter, the hacker described the exploit arsenic the usage of an initializing relation to acceptable their ain span address, which would hijack each incoming ETH deposits from those trying to span funds from Ethereum to Arbitrum Nitro.

Riptide explained the exploit successful a Medium post connected Sept. 20:

“We could either selectively people ample ETH deposits to stay undetected for a longer play of time, siphon up each azygous deposit that comes done the bridge, oregon hold and conscionable front-run the adjacent monolithic ETH deposit.”

The hack could person perchance netted tens oregon adjacent hundreds of millions worthy of ETH, arsenic the largest deposit riptide recorded successful the inbox was 168,000 ETH worthy implicit $225 million, and emblematic deposits ranged from 1000 to 5000 ETH successful a 24-hour period, worthy betwixt $1.34 to $6.7 million.

Despite the earning imaginable from the ill-gotten gains, riptide was thankful that the “extremely based Arbitrum team” provided a 400 ETH bounty, worthy implicit $536,500, nevertheless they added aboriginal connected Twitter that specified a find “should beryllium eligible for a max bounty,” which is worth $2 million.

No large woody conscionable bridging a chill $470mm done the aforesaid Inbox declaration

Definitely should beryllium eligible for a max bounty

https://t.co/w7S58QNQZu

— riptide (@0xriptide) September 20, 2022

Neither Arbitrum nor its creator institution OffChain Labs person publically commented connected the exploit, Cointelegraph contacted OffChain Labs for remark but did not instantly perceive back.

Related: ETHW confirms declaration vulnerability exploit, dismisses replay onslaught claims

Arbitrum is simply a layer-2 Optimistic Rollup solution for Ethereum, clustering batches of transactions earlier submitting it to the Ethereum web successful an effort to minimize web congestion and prevention connected fees. Arbitrum Nitro launched connected Aug. 31st, an upgrade aimed to simplify connection betwixt Arbitrum and Ethereum arsenic good arsenic expanding its transaction throughput astatine little fees.

Similar benignant span hacks person been palmy for exploiters this year, notably the $100 cardinal stolen from the Horizon Bridge successful June and the caller Nomad token span incidental successful August which saw $190 cardinal drained by the archetypal and “copycat” hackers repeating the exploit.

Read Entire Article