Blockchain safety agency CertiK has acquired a bounty of $500,000 from the Sui community after flagging a risk that had the potential to disrupt Sui’s total layer-1 blockchain.
In an announcement despatched to Cointelegraph, the CertiK staff highlighted that the vulnerability dubbed “HamsterWheel” was totally different from conventional assaults which deal with shutting down blockchains by crashing nodes.
This assault traps nodes, letting them carry out operations with out processing new transactions, much like hamsters jogging on a wheel. The assault has the potential to cripple networks and make them unable to function.
The safety agency found the vulnerability and reported it to Sui forward of its mainnet launch. Responding to the safety risk, the Sui community applied fixes to stop the potential damages that an assault may inflict on the blockchain.
To understand CertiK’s efforts, Sui awarded a $500,000 bounty to the safety agency. In accordance with CertiK, this highlights the significance of bug bounty packages and proactive safety efforts.
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Kang Li, chief safety officer at CertiK, stated that threats to blockchain networks are consistently evolving. “The invention of the HamsterWheel assault demonstrates the evolving sophistication of threats to blockchain networks,” Li defined.
In accordance with the announcement, extra technical particulars can be printed and made accessible quickly. Furthermore, full reviews can be introduced as soon as all mitigations have been deployed and totally examined.
In the meantime, within the decentralized finance (DeFi) area, a crypto buying and selling bot has taken a $200 million mortgage to safe a $3 revenue. On June 14, an arbitrage bot carried out a sequence of difficult transactions, together with borrowing 200 million DAI (DAI) in MakerDAO and ended up with a complete achieve of $3.24. A neighborhood member praised the bot’s efforts and stated “revenue is revenue” whereas one other stated that this was an indication of how dangerous the crypto bear market is.
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