Plans To Cut Transaction Fees Leave Arbitrum Susceptible To Attacks
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As one of the post-merger solutions, Ethereum added Arbitum layer 2 to its mainnet. The Ethereum network expects the Arbitrum scaling tool to eliminate the problem of high transaction fees and optimize network scalability.
The Arbitrum scaling tool enables users to access DeFi applications. The Arbitrum network makes token exchange almost super cheap at 0.60 cents.
The recent white hat hacking attack on the Arbitrum network indicates the vulnerability of the Arbitrum network. It seems Arbitrum neglects to fire while chasing a rat.
Arbitrum did not notice the anomaly in its latest version in an attempt to help Ethereum lower transaction costs. The vulnerability would have left the network porous and allowed hackers to steal funds from the Ethereum network.
Bridge Attacks $1 Billion Stolen Fund in Crypto Industry
Arbutrum was lucky when Oxriptide broke into the system and found the bug. A white hat hacker was rewarded with 400 ETH for helping to report the bug.
According to Oxriptide, the problem was the way transactions were processed and sent online. The hacker explained that the vulnerability is critical and could allow all ETH deposits arriving at the Layer1-layer2 bridge to be stolen. He made the revelation a to tweet.
A bridge is a tool for sending and processing an event. Bridge allows users to transfer tokens from one blockchain to another. One major security threat in the crypto industry is bridge attacks, which caused the theft of nearly a billion dollars in the past year.
Details of the Arbitrum vulnerability
Oxriptide made an amazing discovery in its attack on the web. One of the most important is the Nitro bug. The hacker found that all incoming transactions go through the bridge with a message to a delayed mailbox on the Arbitrum blockchain.
Arbitrum Nitro is a second generation layer 2 roll-up protocol. It is a newly updated scaling tool that offers more efficient dispute resolution and higher performance than previous collections.
Arbitrum Nitro was implemented in Layer-2 of Ethereum for better scalability. In addition, it is designed to support, among other things, transactions between chains and authentication of transactions.
Delayed Mailbox is a tool for checking all transactions to check the processing status of smart contracts. Oxriptide detected that the save slots were empty due to a Nitro bug. This malfunction could allow anyone to manipulate the bridge’s smart contracts.
The bug was caused by developers removing code that protects against vulnerabilities and enables cheap transactions. However, the developers did not detect the threat.
Failure to detect this problem would have cost Ethereum hundreds of millions of dollars. The arrivals save daily, but the largest is 168,000 ETH (about $ 250 mm).
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