A hacker made a failed attack on the Rainbow Bridge and lost several ethers

Aurora Labs CEO Alex Shevchenko spoke about a failed attempt by a hacker to break into the Rainbow Bridge, during which the attacker lost about $8,000 worth of assets.

According to Shevchenko, the hacker submitted a rigged NEAR block to the Rainbow Bridge contract and deposited 5 ETH as collateral. However, within 31 seconds, his attack was thwarted and the hacker forfeited his collateral. User funds are safe. The attacker planned the attack on Saturday, believing that the project team would be slow enough to respond to his actions over the weekend. However, he did not take into account the presence of automatic security services that process malicious transactions.

The CEO of Aurora Labs noted that due to the increase in the number of exploit attempts, the project team was considering increasing the amount of collateral required for safe deposits. However, the proposal was subsequently rejected in order to maintain the commitment to decentralization where possible. Alex Shevchenko publicly addressed the hacker: it is much better for the person who committed the attack to find errors in the protocols and receive a reward for this than to steal user funds. Thus, the CEO of Aurora Labs announced, the hacker will benefit society and will not have problems laundering stolen crypto assets.

On June 7, Aurora Labs paid a $6 million reward to a white hat hacker who discovered a critical vulnerability in the NEAR protocol. The bug was quickly fixed, keeping user funds safe. Otherwise, the protocol could lose more than $200 million.

Meanwhile, the hackers who hacked into the Ronin bridge this spring managed to convert the stolen funds into bitcoin. Using Blender and ChipMixer, hackers are still trying to cover their tracks.