Blockchain security firm BlockSec has revealed that hackers used a double-spend mechanism to steal 200 ETHW through a vulnerability in a network bridge.
According to the BlockSec report, the hacker first transferred 200 WETH through the Gnosis gateway, then duplicated the ethers on the PoW blockchain and received an additional 200 ETHW. EtherPoW Development Team statedthat the hackers used the bridge smart contract vulnerability to attack, and not their blockchain.
“We used the EIP-155 against a test attack implemented by ETHW security engineers and did not experience double spending,” they said.
The EtherPoW developers attempted to contact the Omni Bridge team to warn of the risks. The developers of Omni Bridge have not yet commented on their warning. The price of ETHW, launched after the Ethereum merger this week, has fallen by more than 35% since the exploit, according to TradingView.
Ethereum’s switch to the PoS algorithm has caught the attention of hackers. Recently, blockchain security specialist ZachXBT reported that attackers stole almost $3.3 million from Ethereum users who created human-readable addresses using the Profanity service.
Earlier, the EtherPoW team warned the community about the spread of fake accounts and websites posing as an official project on social networks.
Source: Bits
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